Bernard Lietaer
Encyclopedia
Bernard Lietaer is an economist
, author and professor. He studies monetary system
s and promotes the idea that communities can benefit from creating their own local or complementary currency
, which circulate parallel with national currencies.
Bernard Lietaer, the author of "The Future of Money: Beyond Greed and Scarcity
" and the forthcoming "Of Human Wealth," has been active in the realm of money systems for close to 40 years in a wide variety of functions. With the publication of his post-graduate thesis at MIT in 1971 (which included a description of "floating exchanges") and the Nixon Shock
of that same year which eradicated the Bretton Woods system
by unhinging the US dollar value from its gold standard and inaugurated the new era of universal floating exchanges (previous to that time the only "floating exchanges" involved some exotic currencies in Latin America), the fledgling management consultant suddenly found himself to be at the center of the financial world's attention. The techniques that he had developed for those marginal Latin American currencies were overnight the only systematic research which could be used to deal with all of the major currencies of the world. A major US bank negotiated exclusive rights to his approach which required that he begin another career. While at the Central Bank in Belgium (National Bank of Belgium
) he implemented the convergence mechanism (ECU
) to the single European currency system. During that period, he also served as President of Belgium’s Electronic Payment System
. His consultant experience in monetary aspects on four continents ranges from multinational corporations to developing countries.
He co-founded one of the largest and most successful currency management firms; GaiaCorp, and managed an offshore currency fund (Gaia Hedge II) which was the world's top performing managed currency fund during the '87-'91 period he ran it. Business Week named him “the world’s top currency trader” in 1992.
Lietaer currently lives in Brussels, Belgium. He was Visiting Scholar at Naropa University
from 2003 - 2006 where he designed and implemented the University's Marpa Center for Business and Economics. He studied engineering at the Catholic University of Leuven
, in Belgium
, and held an Assistant Professorship of International Finance
at the same university. He was also a Research Fellow at the Center for Sustainable Resources of the University of California, Berkeley
.
Within his books he describes and draws from the perceptions of Freiwirtschaft
. He is the originator of a complementary currency called the terra.
Economist
An economist is a professional in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy...
, author and professor. He studies monetary system
Monetary system
A monetary system is anything that is accepted as a standard of value and measure of wealth in a particular region.However, the current trend is to use international trade and investment to alter the policy and legislation of individual governments. The best recent example of this policy is the...
s and promotes the idea that communities can benefit from creating their own local or complementary currency
Complementary currency
Complementary currency is a currency meant to be used as a complement to another currency, typically a national currency. Complementary currency is sometimes referred to as complementary community currency or as community currency...
, which circulate parallel with national currencies.
Bernard Lietaer, the author of "The Future of Money: Beyond Greed and Scarcity
The Future of Money: Beyond Greed and Scarcity
The Future of Money is a book written by Bernard Lietaer, published by Random House in 2001, and currently out of print. It was written as an overview of how money and the financial system works, the effects of modern money paradigms, especially relating to debt and interest, and how it can work to...
" and the forthcoming "Of Human Wealth," has been active in the realm of money systems for close to 40 years in a wide variety of functions. With the publication of his post-graduate thesis at MIT in 1971 (which included a description of "floating exchanges") and the Nixon Shock
Nixon Shock
The Nixon Shock was a series of economic measures taken by U.S. President Richard Nixon in 1971 including unilaterally cancelling the direct convertibility of the United States dollar to gold that essentially ended the existing Bretton Woods system of international financial exchange.-Background:By...
of that same year which eradicated the Bretton Woods system
Bretton Woods system
The Bretton Woods system of monetary management established the rules for commercial and financial relations among the world's major industrial states in the mid 20th century...
by unhinging the US dollar value from its gold standard and inaugurated the new era of universal floating exchanges (previous to that time the only "floating exchanges" involved some exotic currencies in Latin America), the fledgling management consultant suddenly found himself to be at the center of the financial world's attention. The techniques that he had developed for those marginal Latin American currencies were overnight the only systematic research which could be used to deal with all of the major currencies of the world. A major US bank negotiated exclusive rights to his approach which required that he begin another career. While at the Central Bank in Belgium (National Bank of Belgium
National Bank of Belgium
The National Bank of Belgium has been the central bank of Belgium since 1850...
) he implemented the convergence mechanism (ECU
ECU
ECU may refer to:Automotive terms* Electronic control unit, a generic term for any embedded system that controls one or more of the electrical systems or subsystems in a motor vehicle...
) to the single European currency system. During that period, he also served as President of Belgium’s Electronic Payment System
Electronic money
Electronic money is money or scrip that is only exchanged electronically. Typically, this involves the use of computer networks, the internet and digital stored value systems...
. His consultant experience in monetary aspects on four continents ranges from multinational corporations to developing countries.
He co-founded one of the largest and most successful currency management firms; GaiaCorp, and managed an offshore currency fund (Gaia Hedge II) which was the world's top performing managed currency fund during the '87-'91 period he ran it. Business Week named him “the world’s top currency trader” in 1992.
Lietaer currently lives in Brussels, Belgium. He was Visiting Scholar at Naropa University
Naropa University
Naropa University is a private American liberal arts university in Boulder, Colorado. Founded in 1974 by Tibetan Buddhist teacher and Oxford University scholar Chögyam Trungpa, it is named for the eleventh-century Indian Buddhist sage Naropa, an abbot of Nalanda.Naropa describes itself as...
from 2003 - 2006 where he designed and implemented the University's Marpa Center for Business and Economics. He studied engineering at the Catholic University of Leuven
Catholic University of Leuven
The Catholic University of Leuven, or of Louvain, was the largest, oldest and most prominent university in Belgium. The university was founded in 1425 as the University of Leuven by John IV, Duke of Brabant and approved by a Papal bull by Pope Martin V.During France's occupation of Belgium in the...
, in Belgium
Belgium
Belgium , officially the Kingdom of Belgium, is a federal state in Western Europe. It is a founding member of the European Union and hosts the EU's headquarters, and those of several other major international organisations such as NATO.Belgium is also a member of, or affiliated to, many...
, and held an Assistant Professorship of International Finance
International finance
International finance is the branch of economics that studies the dynamics of exchange rates, foreign investment, global financial system, and how these affect international trade. It also studies international projects, international investments and capital flows, and trade deficits. It includes...
at the same university. He was also a Research Fellow at the Center for Sustainable Resources of the University of California, Berkeley
University of California, Berkeley
The University of California, Berkeley , is a teaching and research university established in 1868 and located in Berkeley, California, USA...
.
Within his books he describes and draws from the perceptions of Freiwirtschaft
Freiwirtschaft
is an economic idea founded by Silvio Gesell in 1916. He called it . In 1932, a group of Swiss businessmen used his ideas to found WIR....
. He is the originator of a complementary currency called the terra.
External links
- Bernard Lietaer's Homepage
- Interview with Dr. Bernard Lietaer
- Interview with monetary specialist Bernard Lietaer on banks, the crisis and creative solutions 1/4/2009
- Economic Insights from Bernard Lietaer 2/10/2009
- Bernard Lietaer teleseminar on "New Money for a New World"
- The Money Fix Podcast #02: Bernard Lietaer
- Bernard Lietaer's lecture
- Bernard Lietaer's blog at Reality Sandwich
- A World in Balance?
- "From the real economy to the speculative" (excerpts) by Bernard Lietaer
- An interview with Bernard Lietaer
- Community Currencies: A New Tool for the 21st Century
- Another interview with Bernard Lietaer
- A discussion about these interviews
- Excerpts from his book, "The Future of Money: Creating New Wealth, Work, and a Wiser World"
- (video) Bernard Lietaer for an NHK Japan documentary on complementary currency systems and Silvio GesellSilvio GesellSilvio Gesell was a German merchant, theoretical economist, social activist, anarchist and founder of Freiwirtschaft.-Life:...
- Short biography