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{{Short description|Israeli-American economist and university administrator}}
{{Infobox economist
{{Infobox economist
| name = Don Patinkin
| name = Don Patinkin
| school_tradition = [[Neo-Keynesian economics]]
| school_tradition = [[Neo-Keynesian economics]]

| color = darkorange
| image =
| image =
| image_size =
| image_size =
| caption =
| caption =
| birth_date = {{Birth date|1922|01|08}}
| birth_date = {{Birth date|1922|01|08}}
| birth_place = [[Chicago, Illinois]]
| birth_place = [[Chicago]], Illinois, US
| death_date = {{Death date and age|1995|08|07|1922|01|08}}
| death_date = {{Death date and age|1995|08|07|1922|01|08}}
| death_place = [[Jerusalem]], [[Israel]]
| death_place = [[Jerusalem]], Israel
| nationality = [[United States|American]]/[[Israel]]i
| nationality = American/Israeli
| institution = [[Hebrew University of Jerusalem]]
| institution = [[Hebrew University of Jerusalem]]
| field = [[Monetary economics]]
| field = [[Monetary economics]]
| alma_mater = [[University of Chicago]]
| alma_mater = [[University of Chicago]]
| influences = [[Oskar Lange]]<br>[[Frank Knight]]<br>[[John Maynard Keynes]]<br>[[Knut Wicksell]]
| influences = [[Oskar Lange]]<br>[[Frank Knight]]<br>[[John Maynard Keynes]]<br>[[Knut Wicksell]]
| influenced = [[Huw Dixon]]
| contributions =
| contributions =
| awards =
| awards =
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| repec_prefix = | repec_id =
| repec_prefix = | repec_id =
}}
}}
'''Don Patinkin''' ([[Hebrew]]: דן פטינקין) (January 8, 1922 – August 7, 1995) was an Israeli/American monetary economist, and the president of [[Hebrew University]] in Jerusalem.<ref name="palgrave">Nissan Liviatan, 2008. "Patinkin, Don (1922–1995)," ''[[The New Palgrave Dictionary of Economics]]'', 2nd Edition. [http://www.dictionaryofeconomics.com/article?id=pde2008_D000243&edition=current&q=patinkin&topicid=&result_number=2 Abstract.]</ref><ref name="nyt">{{citation|url=http://www.nytimes.com/1995/08/08/obituaries/don-patinkin-israeli-economist-and-university-president-73.html|title=Don Patinkin, Israeli Economist and University President, 73|first=Peter|last=Passell|date=August 8, 1995|journal=[[New York Times]]}}.</ref><ref name="independent">{{citation|title=Obituary: Don Patinkin|journal=[[The Independent]]|first=Tam|last=Dalyell|date=August 10, 1995|url=http://www.independent.co.uk/news/people/obituary--don-patinkin-1595557.html}}.</ref><ref name="jpost">{{citation|title=Israel Prize winner Don Patinkin passes away at 73|journal=Jerusalem Post|date=August 8, 1995}}.</ref>
'''Don Patinkin''' ([[Hebrew]]: דן פטינקין) (January 8, 1922 – August 7, 1995) was an American-born Israeli [[Monetary economics|monetary]] economist, and the President of the [[Hebrew University of Jerusalem]].<ref name="palgrave">Nissan Liviatan, 2008. "Patinkin, Don (1922–1995)," ''[[The New Palgrave Dictionary of Economics]]'', 2nd Edition. [http://www.dictionaryofeconomics.com/article?id=pde2008_D000243&edition=current&q=patinkin&topicid=&result_number=2 Abstract.]</ref><ref name="nyt">{{citation|url=https://www.nytimes.com/1995/08/08/obituaries/don-patinkin-israeli-economist-and-university-president-73.html|title=Don Patinkin, Israeli Economist and University President, 73|first=Peter|last=Passell|date=August 8, 1995|journal=[[The New York Times]]}}</ref><ref name="independent">{{citation|title=Obituary: Don Patinkin|journal=[[The Independent]]|first=Tam|last=Dalyell|date=August 10, 1995|url=https://www.independent.co.uk/news/people/obituary--don-patinkin-1595557.html}}</ref><ref name="jpost">{{citation|title=Israel Prize winner Don Patinkin passes away at 73|journal=Jerusalem Post|date=August 8, 1995}}</ref>


==Biography==
==Biography==
Patinkin was born January 8, 1922, in Chicago, to a family of Jewish emigrants from [[Poland]].{{cn|date=May 2016}} While doing his undergraduate studies at the [[University of Chicago]], he also studied the [[Talmud]] at the [[Hebrew Theological College]] in Chicago. He continued at Chicago for his graduate studies, earning a Ph.D. in 1947 under the supervision of [[Oskar R. Lange]]. Patinkin was a strong [[Zionist]] and, while doing his graduate studies, already planned to emigrate to [[Palestine (region)|Palestine]]; in his graduate research he studied Palestinian economics, with a view to making his emigration case stronger, although he did not complete his thesis in this subject. After graduating he held lecturer positions at the University of Chicago and the [[University of Illinois]] until he succeeded in emigrating to Israel in 1949, where he was hired by the Hebrew University in Jerusalem. In 1956 he was appointed the research director of the Falk Institute for Economic Research, which established by [[Simon Kuznets|Simon Kuznetz]] with the support of the Falk Foundation.<ref>Krampf, A. 2010. '[http://journals.cambridge.org/action/displayAbstract?fromPage=online&aid=7928279 Economic Planning of the Free Market in Israel during the First Decade: The Influence of Don Patinkin on Israeli Policy Discourse]', Science in Context 23(4): 507–534.</ref> He remained at the Hebrew University for the rest of his career and was university president from 1982 to 1986, but resigned due to the poor state of the university's finances. He retired in 1989, and died August 7, 1995 in Jerusalem.<ref name="nyt"/><ref name="independent"/><ref name="new school">{{citation|contribution=Don Patinkin, 1922–1995|publisher=[[The New School]]|url=http://www.newschool.edu/nssr/het/profiles/patinkin.htm|title=History of Economic Thought and Critical Perspectives in Economics|accessdate=2011-10-04|first=Gonçalo L.|last=Fonseca|year=2009}}.</ref><ref name="ejhet"/>
Don Patinkin was born January 8, 1922, in Chicago, to a family of Jewish emigrants from Poland.{{citation needed|date=May 2016}} While doing his undergraduate studies at the [[University of Chicago]], he also studied the [[Talmud]] at the [[Hebrew Theological College]] in Chicago. He continued at Chicago for his graduate studies, earning a Ph.D. in 1947 under the supervision of [[Oskar R. Lange]]. Patinkin was a strong [[Zionist]] and, while doing his graduate studies, planned to [[aliyah|immigrate]] to [[Palestine (region)|Palestine]]; in his graduate research he studied Palestinian economics, although he did not complete his thesis in this subject.
After graduating he held lecturer positions at the University of Chicago and the [[University of Illinois]] until he succeeded in emigrating to Israel in 1949, where he was hired by the Hebrew University in Jerusalem. In 1956 he was appointed the research director of the Falk Institute for Economic Research, which was established by [[Simon Kuznets|Simon Kuznetz]] with the support of the Falk Foundation.<ref>Krampf, A. 2010. '[http://journals.cambridge.org/action/displayAbstract?fromPage=online&aid=7928279 Economic Planning of the Free Market in Israel during the First Decade: The Influence of Don Patinkin on Israeli Policy Discourse]', Science in Context 23(4): 507–534.</ref>
==Academic career==
He remained at the Hebrew University. becoming university president from 1982 to 1986, following [[Avraham Harman]]. He resigned due to the poor state of the university's finances and was succeeded by [[Amnon Pazy]].<ref>{{cite web|url=https://new.huji.ac.il/en/page/454 |title=Office of the President &#124; האוניברסיטה העברית בירושלים &#124; The Hebrew University of Jerusalem |publisher=New.huji.ac.il |date=2017-09-01 |access-date=2020-02-18}}</ref> He retired in 1989, and died August 7, 1995, in Jerusalem.<ref name="nyt"/><ref name="independent"/><ref name="new school">{{citation|contribution=Don Patinkin, 1922–1995|publisher=[[The New School]]|url=http://www.newschool.edu/nssr/het/profiles/patinkin.htm|title=History of Economic Thought and Critical Perspectives in Economics|access-date=2011-10-04|first=Gonçalo L.|last=Fonseca|year=2009|url-status=dead|archive-url=https://web.archive.org/web/20111031071609/http://www.newschool.edu/nssr/het/profiles/patinkin.htm|archive-date=2011-10-31}}</ref><ref name="ejhet"/>


==Economic research==
==Research==
Patinkin's work explored some of the [[microfoundations]] of [[Keynesian economics|Keynesian macroeconomics]], particularly the role of money demand. His monograph ''Money, Interest, and Prices'' (1956) was for many years one of the most widely used advanced references on monetary economics.<ref name="ejhet">{{citation|url=http://economics.barnard.edu/sites/default/files/inline/don_patinkin_origins.pdf|first=P.|last=Mehrling|year=2002|title=Don Patinkin and the origins of postwar monetary orthodoxy|journal=The European Journal of the History of Economic Thought|volume=9|issue=2|pages=161–185|doi=10.1080/09672560210129668}}.</ref>
Patinkin's work explored some of the [[microfoundations]] of [[Keynesian economics|Keynesian macroeconomics]], particularly the role of money demand. His monograph ''Money, Interest, and Prices'' (1956) was for many years one of the most widely used advanced references on monetary economics.<ref name="ejhet">{{citation|url=http://economics.barnard.edu/sites/default/files/inline/don_patinkin_origins.pdf|first=P.|last=Mehrling|year=2002|title=Don Patinkin and the origins of postwar monetary orthodoxy|journal=The European Journal of the History of Economic Thought|volume=9|issue=2|pages=161–185|doi=10.1080/09672560210129668|s2cid=154959883|access-date=2011-10-04|archive-date=2016-03-04|archive-url=https://web.archive.org/web/20160304034259/http://economics.barnard.edu/sites/default/files/inline/don_patinkin_origins.pdf|url-status=dead}}</ref>


[[Huw Dixon]] believes that:<ref>[[Huw Dixon|Dixon H]], [http://huwdixon.org/SurfingEconomics/index.html Surfing Economics], Chapter 3</ref> "''Money, Interest and Prices'' is perhaps as great in its vision as Keynes’ ''General Theory''. Whilst the latter has a greater abundance of originality, the former has a greater clarity of insight and formal expression. Don Patinkin states his theory of the labour market and corresponding notion of the full employment equilibrium in just three pages of ''Money, Interest and Prices'' (in the 1965 edn. pp.&nbsp;127–30). These pages deserve great attention: they state the labour market model that became the standard foundation for the aggregate supply curve in the aggregate demand/aggregate supply (AD/AS) model. Although Patinkin himself did not formulate the AD/AS representation, it is implicit in his ''Money, Interest and Prices''."
[[Huw Dixon]] believes that: "''Money, Interest and Prices'' is perhaps as great in its vision as Keynes' ''General Theory''. Whilst the latter has a greater abundance of originality, the former has a greater clarity of insight and formal expression. Don Patinkin states his theory of the labour market and corresponding notion of the full employment equilibrium in just three pages of ''Money, Interest and Prices'' (in the 1965 edn. pp.&nbsp;127–30). These pages deserve great attention: they state the labour market model that became the standard foundation for the aggregate supply curve in the aggregate demand/aggregate supply (AD/AS) model. Although Patinkin himself did not formulate the AD/AS representation, it is implicit in his ''Money, Interest and Prices''."<ref>[[Huw Dixon|Dixon H]], [http://huwdixon.org/SurfingEconomics/index.html Surfing Economics], Chapter 3</ref>


==Publications==
==Published works==
* "Mercantilism and the Readmission of Jews in England", 1946, ''Jewish Social Studies''
* "Mercantilism and the Readmission of Jews in England", 1946, ''Jewish Social Studies''
* "Multiple-Plant Firms, Cartels and Imperfect Competition", 1947, ''QJE''.
* "Multiple-Plant Firms, Cartels and Imperfect Competition", 1947, ''QJE''.
Line 46: Line 51:
* "Keynesian Economics and the Quantity Theory", 1954, in Kurihara, editor, ''Post-Keynesian Economics''.
* "Keynesian Economics and the Quantity Theory", 1954, in Kurihara, editor, ''Post-Keynesian Economics''.
* "Monetary and Price Developments in Israel", 1955, ''Scripta Hierosolymitana''.
* "Monetary and Price Developments in Israel", 1955, ''Scripta Hierosolymitana''.
* "Money, Interest and Prices: An integration of monetary and value theory", 1956.
* ''Money, Interest and Prices: An Integration of Monetary and Value Theory'', 1956.
* "Liquidity Preference and Loanable Funds: Stock and flow analysis", 1958, ''Economica''.
* "Liquidity Preference and Loanable Funds: Stock and Flow Analysis", 1958, ''Economica''.
* "Secular Price Movements and Economic Development: Some theoretical aspects", in Bonne, editor, ''The Challenge of Development''.
* "Secular Price Movements and Economic Development: Some Theoretical Aspects", in Bonne, editor, ''The Challenge of Development''.
* "The Israel Economy: The first decade", 1959.
* ''The Israel Economy: The First Decade'', 1959.
* "Keynes and Econometrics: On the Interaction of the Macroeconomic Revolutions of the Interwar Period", 1976, ''Econometrica''.


==Awards and honors==
==Awards and recognition==
Patinkin was awarded the [[Israel Prize]] in 1970.<ref name="jpost"/>
Patinkin was awarded the [[Israel Prize]] in 1970.<ref name="jpost"/>
In 1989, a conference was held in honor of Patinkin's retirement.<ref name="independent"/>
In 1989, a conference was held in honor of Patinkin's retirement.<ref name="independent"/>
Line 57: Line 63:
==See also==
==See also==
* [[List of Israel Prize recipients]]
* [[List of Israel Prize recipients]]
* [[Disequilibrium macroeconomics]]


==References==
==References==
Line 63: Line 70:
==Further reading==
==Further reading==
* R. Dimand (2008), [http://www.dictionaryofeconomics.com/article?id=pde2008_M000394 Monetary economics, history of], article in The New Palgrave Dictionary of Economics
* R. Dimand (2008), [http://www.dictionaryofeconomics.com/article?id=pde2008_M000394 Monetary economics, history of], article in The New Palgrave Dictionary of Economics
* N. Liviatan (2006), [http://www.bankisrael.gov.il/deptdata/mehkar/iser/07/iser_1.pdf Don Patinkin's contribution to monetary theory], Israel Economic Review
* N. Liviatan (2006), [http://www.bankisrael.gov.il/deptdata/mehkar/iser/07/iser_1.pdf Don Patinkin's contribution to monetary theory] {{Webarchive|url=https://web.archive.org/web/20111128054429/http://www.bankisrael.gov.il/deptdata/mehkar/iser/07/iser_1.pdf |date=2011-11-28 }}, Israel Economic Review
* D. Rozborilova (2003), [http://www.nbs.sk/_img/Documents/BIATEC/BIA09_03/22_26.pdf Profiles of World Economists: Don Israel Patinkin]
* D. Rozborilova (2003), [http://www.nbs.sk/_img/Documents/BIATEC/BIA09_03/22_26.pdf Profiles of World Economists: Don Israel Patinkin]


==External links==
==External links==
* [http://www.library.duke.edu/rubenstein/findingaids/patinkin/ Don Patinkin Papers, 1870-1995], Rubenstein Library, Duke University. Also includes life chronology.
* [https://web.archive.org/web/20120915030612/http://library.duke.edu/rubenstein/findingaids/patinkin/ Don Patinkin Papers, 1870-1995], Rubenstein Library, Duke University. Also includes life chronology.
* [http://press.princeton.edu/titles/7603.html References to Patinkin's 'classic' work (on dust jacket of Woodford textbook)]
* [http://press.princeton.edu/titles/7603.html References to Patinkin's 'classic' work (on dust jacket of Woodford textbook)]


{{Keynesians}}
{{Keynesians}}
{{Presidents of the Econometric Society}}


{{Authority control}}
{{Authority control}}
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[[Category:1922 births]]
[[Category:1922 births]]
[[Category:1995 deaths]]
[[Category:1995 deaths]]
[[Category:People from Chicago, Illinois]]
[[Category:Educators from Chicago]]
[[Category:American people of Russian-Jewish descent]]
[[Category:American people of Russian-Jewish descent]]
[[Category:Jewish American social scientists]]
[[Category:University of Chicago alumni]]
[[Category:University of Chicago alumni]]
[[Category:Hebrew University of Jerusalem faculty]]
[[Category:Academic staff of the Hebrew University of Jerusalem]]
[[Category:Presidents of universities in Israel]]
[[Category:Israel Prize in social sciences recipients]]
[[Category:Israel Prize in social sciences recipients]]
[[Category:Israel Prize in social sciences recipients who were economists]]
[[Category:Israel Prize in social sciences recipients who were economists]]
[[Category:Members of the Israel Academy of Sciences and Humanities]]
[[Category:Members of the Israel Academy of Sciences and Humanities]]
[[Category:Neo-Keynesian economists]]
[[Category:Neo-Keynesian economists]]
[[Category:Fellows of the Econometric Society]]
[[Category:Presidents of the Econometric Society]]
[[Category:Presidents of the Econometric Society]]
[[Category:20th-century economists]]
[[Category:20th-century Israeli economists]]
[[Category:Patinkin family]]
[[Category:Corresponding Fellows of the British Academy]]
[[Category:American emigrants to Israel]]
[[Category:20th-century American Jews]]
[[Category:Burials at Har HaMenuchot]]

Latest revision as of 19:36, 30 October 2023

Don Patinkin
Born(1922-01-08)January 8, 1922
Chicago, Illinois, US
DiedAugust 7, 1995(1995-08-07) (aged 73)
Jerusalem, Israel
NationalityAmerican/Israeli
Academic career
InstitutionHebrew University of Jerusalem
FieldMonetary economics
School or
tradition		Neo-Keynesian economics
Alma materUniversity of Chicago
InfluencesOskar Lange
Frank Knight
John Maynard Keynes
Knut Wicksell

Don Patinkin (Hebrew: דן פטינקין) (January 8, 1922 – August 7, 1995) was an American-born Israeli monetary economist, and the President of the Hebrew University of Jerusalem.[1][2][3][4]

Biography

[edit]

Don Patinkin was born January 8, 1922, in Chicago, to a family of Jewish emigrants from Poland.[citation needed] While doing his undergraduate studies at the University of Chicago, he also studied the Talmud at the Hebrew Theological College in Chicago. He continued at Chicago for his graduate studies, earning a Ph.D. in 1947 under the supervision of Oskar R. Lange. Patinkin was a strong Zionist and, while doing his graduate studies, planned to immigrate to Palestine; in his graduate research he studied Palestinian economics, although he did not complete his thesis in this subject.

After graduating he held lecturer positions at the University of Chicago and the University of Illinois until he succeeded in emigrating to Israel in 1949, where he was hired by the Hebrew University in Jerusalem. In 1956 he was appointed the research director of the Falk Institute for Economic Research, which was established by Simon Kuznetz with the support of the Falk Foundation.[5]

Academic career

[edit]

He remained at the Hebrew University. becoming university president from 1982 to 1986, following Avraham Harman. He resigned due to the poor state of the university's finances and was succeeded by Amnon Pazy.[6] He retired in 1989, and died August 7, 1995, in Jerusalem.[2][3][7][8]

Economic research

[edit]

Patinkin's work explored some of the microfoundations of Keynesian macroeconomics, particularly the role of money demand. His monograph Money, Interest, and Prices (1956) was for many years one of the most widely used advanced references on monetary economics.[8]

Huw Dixon believes that: "Money, Interest and Prices is perhaps as great in its vision as Keynes' General Theory. Whilst the latter has a greater abundance of originality, the former has a greater clarity of insight and formal expression. Don Patinkin states his theory of the labour market and corresponding notion of the full employment equilibrium in just three pages of Money, Interest and Prices (in the 1965 edn. pp. 127–30). These pages deserve great attention: they state the labour market model that became the standard foundation for the aggregate supply curve in the aggregate demand/aggregate supply (AD/AS) model. Although Patinkin himself did not formulate the AD/AS representation, it is implicit in his Money, Interest and Prices."[9]

Published works

[edit]
  • "Mercantilism and the Readmission of Jews in England", 1946, Jewish Social Studies
  • "Multiple-Plant Firms, Cartels and Imperfect Competition", 1947, QJE.
  • "Relative Prices, Say's Law, and the Demand for Money", 1948, Econometrica.
  • "Price Flexibility and Full Employment", 1948, AER.
  • "The Indeterminacy of Absolute Prices in Classical Economic Theory", 1949, Econometrica.
  • "Involuntary Unemployment and the Keynesian Supply Function", 1949, EJ.
  • "A Reconsideration of the General Equilibrium Theory of Money", 1950, RES.
  • "The Invalidity of Classical Monetary Theory", 1951, Econometrica.
  • "Further Considerations of the General Equilibrium Theory of Money", 1951, RES.
  • "The Limitations of Samuelson's `Correspondence Principle'", 1952, Metroeconomica.
  • "Wicksell's `Cumulative Process'", 1952, EJ.
  • "Dichotomies of the Pricing Process in Economic Theory", 1954, Economica.
  • "Keynesian Economics and the Quantity Theory", 1954, in Kurihara, editor, Post-Keynesian Economics.
  • "Monetary and Price Developments in Israel", 1955, Scripta Hierosolymitana.
  • Money, Interest and Prices: An Integration of Monetary and Value Theory, 1956.
  • "Liquidity Preference and Loanable Funds: Stock and Flow Analysis", 1958, Economica.
  • "Secular Price Movements and Economic Development: Some Theoretical Aspects", in Bonne, editor, The Challenge of Development.
  • The Israel Economy: The First Decade, 1959.
  • "Keynes and Econometrics: On the Interaction of the Macroeconomic Revolutions of the Interwar Period", 1976, Econometrica.

Awards and recognition

[edit]

Patinkin was awarded the Israel Prize in 1970.[4] In 1989, a conference was held in honor of Patinkin's retirement.[3]

See also

[edit]

References

[edit]
  1. ^ Nissan Liviatan, 2008. "Patinkin, Don (1922–1995)," The New Palgrave Dictionary of Economics, 2nd Edition. Abstract.
  2. ^ a b Passell, Peter (August 8, 1995), "Don Patinkin, Israeli Economist and University President, 73", The New York Times
  3. ^ a b c Dalyell, Tam (August 10, 1995), "Obituary: Don Patinkin", The Independent
  4. ^ a b "Israel Prize winner Don Patinkin passes away at 73", Jerusalem Post, August 8, 1995
  5. ^ Krampf, A. 2010. 'Economic Planning of the Free Market in Israel during the First Decade: The Influence of Don Patinkin on Israeli Policy Discourse', Science in Context 23(4): 507–534.
  6. ^ "Office of the President | האוניברסיטה העברית בירושלים | The Hebrew University of Jerusalem". New.huji.ac.il. 2017-09-01. Retrieved 2020-02-18.
  7. ^ Fonseca, Gonçalo L. (2009), "Don Patinkin, 1922–1995", History of Economic Thought and Critical Perspectives in Economics, The New School, archived from the original on 2011-10-31, retrieved 2011-10-04
  8. ^ a b Mehrling, P. (2002), "Don Patinkin and the origins of postwar monetary orthodoxy" (PDF), The European Journal of the History of Economic Thought, 9 (2): 161–185, doi:10.1080/09672560210129668, S2CID 154959883, archived from the original (PDF) on 2016-03-04, retrieved 2011-10-04
  9. ^ Dixon H, Surfing Economics, Chapter 3

Further reading

[edit]
[edit]
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