Arnold Harberger 101: The Famous Economist

Zatrun Published at November 15, 2023

Arnold Harberger 101: Who is the Famous Economist? In our article of Zatrun.com, we will cover in detail everything you need to know about the famous economist and writer Arnold Harberger, which our readers are curious about.

Who is Arnold Harberger?

Arnold Carl Harberger is an American economist born on July 27, 1924. His approach to teaching and practicing economics emphasizes the direct application of analytical tools to real-world problems.

Harberger is credited with popularizing the concept of the “Harberger triangle,” which refers to the standard graphical depiction of the cost of efficiency losses due to distortions in competitive equilibrium. His influence on economic policy can be seen through his followers who have obtained high positions in national institutions such as central banks, finance ministries, and international organizations like the World Bank.

Harberger received his undergraduate degree in economics from Johns Hopkins University, and his master’s degree in international relations and Ph.D. in economics from the University of Chicago. After teaching at Johns Hopkins University, he taught full and part-time at the University of Chicago from 1953 to 1982 and 1984 to 1991. He has been a professor at the University of California Los Angeles since 1984 and a professor emeritus since 2014. Harberger married Anita Valjalo, a Chilean, in 1958, and they remained together until his death.

Arnold Harberger and His Impact:

Arnold Harberger, known for his fluency in Spanish, maintains close relationships with his former students, thanks to his influential government roles in Latin American countries, particularly in Chile. Among his former students are 15 central bank presidents and about 50 ministers. Harberger takes pride in his work developing sound economic policies in numerous countries.

However, he has faced criticism for providing economic advice to some authoritarian governments in Latin America. The impact of the “free market” reforms carried out by the Pinochet regime in Chile (through the so-called “Chicago Boys,” who were his former students) was controversial, given the failure of earlier direct economic control policies. Nevertheless, these reforms have been continued by a series of democratically elected governments since the end of the Pinochet regime.