In This Review

A Life for Sound Money: Per Jacobsson, His Biography
A Life for Sound Money: Per Jacobsson, His Biography
By Erin E. Jacobsson
Oxford University Press, 1979, 413 pp

The Swedish economist started work at the League of Nations in 1920; from 1931 to 1956 he was Economic Adviser to the Bank for International Settlements, and he spent the last seven years of his life as Managing Director of the International Monetary Fund. His economist daughter has chronicled this remarkable career with the help of his diaries and notes from other people. Perhaps space made it inevitable that events should be rather personalized and Jacobsson's thought sometimes oversimplified. A continental neo-liberal who fought the inflationary bias he found in much British and American thinking, he had a gift for the pragmatic and eclectic, and mixed the medicine to suit the case. The chapter summarizing his thought is particularly useful since this influential talker and doer wrote no books-except two detective stories. There are no extraordinary revelations, but the record is a valuable one that could have come from nowhere else.