Al-Obaid has affirmed that history of the economic models date back to the 1930s, when the Dutch economist, Jan Tinbergen
, drew up the first macroeconomic model, designed at the time to tackle an issue in the monetary policy -- whether a currency in a liberal economy should be devalued with aim of shoring up the economy.
As an academician, he taught Economics at the University of Lucknow before proceeding to the Netherlands, where Mitra got his doctorate in 1953 from University of Rotterdam (now The Netherlands School of Economics) under Jan Tinbergen
(who later won the Nobel Prize).
Nobel laureate Jan Tinbergen
had warned in the 1950s itself that 'the use of one policy instrument to achieve more than one objective will invariably end up in failure'.
Ragnar Frisch and Jan Tinbergen
were the first winners of what, in 1969?
The economic theory of productivity measurement goes back to the work of Jan Tinbergen
(1942) and independently, to Robert Solow (1957).
Convergence theory officially debuted in 1961 with a short but influential article by Jan Tinbergen
. Communism and capitalism, the Dutch economist argued, would learn to overcome internal problems by borrowing from each other.
Thore and Tarverdyan present students, academics, researchers, policy makers, and professionals working in a variety of contexts with an examination of diagnositic tools for evaluating the accomplishments and failures of social and economic policies, arguing for the development of a new tool not rooted in the inherited theory of economic and social policy codified by Jan Tinbergen
in the 1950s.
Seeing Kalecki's interactions with not only those such as Keynes and Richard Kahn but also with economists like Jan Tinbergen
and Ragnar Frisch helps us to appreciate what was going on in economics in the 1930s, which was not solely due to the advent of 'Keynesian' macroeconomics.
Friedman's early perspective on business cycle analysis is evident in his review of Jan Tinbergen
's Business Cycles in the United States of America, 1919-1932.
Prominent residents include Nobel laureate Jan Tinbergen
, film director Paul Verhoeven (Total Recall), philosopher Baruch Spinoza, Punjabi singer Imran Khan (Ni Nachleh), etc.
Indeed, as we know from Keynes's critique of Jan Tinbergen
's econometric work on investment expenditure in the 1930s, the very idea of a dependable long-run relationship, lasting over long periods of time, which could be used as the basis for policy proposals, was thoroughly alien to Keynes's thought (and, I suspect, to Bill Phillips's also) (Harcourt 2001: 183-187).
Ten Nobel prize winners in economics worked closely with the UN--either as staff (for instance, Arthur Lewis, the first prize winning economist from a developing country) or as associates (for instance, Dutchman Jan Tinbergen
, notable for expressing his disappointment at winning the prize for economics--he said he had hoped to win the peace prize!)