MALKIEL, Burton G.
The Journal of Finance: The Rejection of the Triffin Plan and the Alternative Accepted.
University of Chicago: The Journal of Finance , 1963.
We're sorry, this item has sold.
+$450
An Offprint of the September 1963 Issue of The Journal of Finance, Containing Burton Malkiel's "The Rejection of the Triffin Plan and the Alternative Accepted"; Signed by Him and From His Own Personal Collection
Rare offprint of the September 1963 issue of The Journal of Finance, containing Burton Malkiel's article "The Rejection of the Triffin Plan and the Alternative Accepted." Octavo, original wrappers, volume 18. Boldly signed by Burton Malkiel on the front wrapper. Burton Gordon Malkiel (born 1932) is one of the most consequential financial economists of the postwar American academy, whose career as scholar, institutional leader, and public intellectual has made him a central figure at the intersection of investment theory, market efficiency, and public policy. Educated at Harvard and Princeton, where he spent the most productive decades of his career as Chemical Bank Chairman’s Professor of Economics, Malkiel also served as Dean of the Yale School of Management from 1981 to 1988 and as a member of the President’s Council of Economic Advisers under Gerald Ford from 1975 to 1977. His scholarly output encompasses foundational contributions across the term structure of interest rates, convertible security valuation, corporate capital structure, closed-end fund discounts, mutual fund performance, and gender pay differentials in professional employment, producing a body of work whose empirical breadth places him among the most versatile financial economists of his generation. His long service on the board of directors of The Vanguard Group connects his academic advocacy for passive investing to the institutional infrastructure that has most fully realized it in practice. It is nevertheless A Random Walk Down Wall Street, first published in 1973 and now in its thirteenth edition, that secured his place in the broader culture: a work of lucid, empirically grounded argument for market efficiency and index fund investing that has sold over 1.5 million copies and permanently altered the investment behavior of millions of individual investors worldwide. From the personal collection of Burton Malkiel. In fine condition.
"The Rejection of the Triffin Plan and the Alternative Accepted," published in The Journal of Finance, Volume 18, September 1963, is an early and notably wide-ranging contribution by Burton G. Malkiel, written at a moment when the international monetary system was under sustained pressure and the debate over its reform had become one of the central preoccupations of the economics profession. Robert Triffin of Yale University had proposed, in his celebrated 1960 work Gold and the Dollar Crisis, that the structural defects of the Bretton Woods gold exchange standard made a fundamental reform of international reserve arrangements both necessary and urgent, calling for the transformation of the International Monetary Fund into something resembling a world central bank capable of creating international reserve assets independent of any single national currency. Malkiel's paper engages directly with the rejection of that proposal by policymakers and the international monetary community, analyzing the political and economic forces that made the Triffin Plan unacceptable to the major powers and examining the alternative framework that was adopted in its place. The paper reflects a breadth of intellectual interest that extended well beyond the fixed income and capital markets questions that would come to define Malkiel's subsequent scholarly reputation, demonstrating at the outset of his career a willingness to engage with the largest questions in monetary economics and international finance at a moment when those questions carried immediate and consequential policy stakes.
The Journal of Finance: The Rejection of the Triffin Plan and the Alternative Accepted.
Out of Stock
Other Books by this Author
