Michel Albert
Encyclopedia
Michel Albert is a French economist
. He was born 25 February 1930 at Fontenay-le-Comte (Vendee) and is the Permanent Secretary of the Académie des Sciences Morales et Politiques since 1 January 2005.
Michel Albert graduated from the Institut d'Études Politiques de Paris
and is an alumnus of the École Nationale d'Administration
. He became an inspector of finance in 1956.
He was Chairman of the Board and CEO of Assurances Générales de France (AGF)
between 1982 and 1994. From 1990 to 1993 he was president of the International Christian Union of Business Executives or UNIAPAC
On March 28, 1994 he was elected to the Académie des Sciences Morales et Politiques to the chair left vacant by the death of Henri Guitton. President of the Academy in 2004. Permanent Secretary for 2005-2010.
In 2009 he was decorated with the Grand Cross of the National Order of Merit
He married Claude Albert (née Balland). He has four sons, Jean-Marc, Eric, Pierre-Emmanuel and Christopher and is grandfather of nine children.
In his 1991 book Capitalisme contre Capitalisme, Michel Albert coined the term Rhine Capitalism
and warned that “The largest banks know, however, that they are literally 'too big to fail
' and can count on a helping hand from government if the worst comes to the worst... Thus, in yet another intriguing but ominous irony of history, 10 years of ultra-liberalism have resulted in a US financial system whose future may only be assured with the help of federal government handouts” (p. 61).
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...
. He was born 25 February 1930 at Fontenay-le-Comte (Vendee) and is the Permanent Secretary of the Académie des Sciences Morales et Politiques since 1 January 2005.
Michel Albert graduated from the Institut d'Études Politiques de Paris
Institut d'Études Politiques de Paris
The Institut d'études politiques de Paris , simply referred to as Sciences Po , is a public research and higher education institution in Paris, France, specialised in the social sciences. It has the status of grand établissement, which allows its admissions process to be highly selective...
and is an alumnus of the École Nationale d'Administration
École nationale d'administration
The École Nationale d'Administration , one of the most prestigious of French graduate schools , was created in 1945 by Charles de Gaulle to democratise access to the senior civil service. It is now entrusted with the selection and initial training of senior French officials...
. He became an inspector of finance in 1956.
He was Chairman of the Board and CEO of Assurances Générales de France (AGF)
AGF (company)
AGF is a French insurance company, headquartered in Rue de Richelieu, Paris. The holding company is called Assurances Générales de France, but the company only refers to itself as AGF. Having held a majority stake in AGF since 1998, Allianz SE of Germany achieved 100% ownership of the company in...
between 1982 and 1994. From 1990 to 1993 he was president of the International Christian Union of Business Executives or UNIAPAC
UNIAPAC
The International Christian Union of Business Executives or UNIAPAC is an ecumenical organization for Christian businesspeople.-History:...
On March 28, 1994 he was elected to the Académie des Sciences Morales et Politiques to the chair left vacant by the death of Henri Guitton. President of the Academy in 2004. Permanent Secretary for 2005-2010.
In 2009 he was decorated with the Grand Cross of the National Order of Merit
Ordre National du Mérite
The Ordre national du Mérite is an Order of State awarded by the President of the French Republic. It was founded on 3 December 1963 by President Charles de Gaulle...
He married Claude Albert (née Balland). He has four sons, Jean-Marc, Eric, Pierre-Emmanuel and Christopher and is grandfather of nine children.
In his 1991 book Capitalisme contre Capitalisme, Michel Albert coined the term Rhine Capitalism
Rhine Capitalism
Rhine capitalism or Rhenish capitalism is a contemporary economic order existing primarily in Western Europe. The term originates from the French economist and Chairman of the Board and CEO Assurances Générales de France , Michel Albert who first used it in his book Capitalisme contre Capitalisme...
and warned that “The largest banks know, however, that they are literally 'too big to fail
Too Big to Fail policy
"Too big to fail" is a colloquial term in regulation and public policy that refers to businesses dealing with market complications related to moral hazard, macroeconomics, economic specialization, and monetary theory....
' and can count on a helping hand from government if the worst comes to the worst... Thus, in yet another intriguing but ominous irony of history, 10 years of ultra-liberalism have resulted in a US financial system whose future may only be assured with the help of federal government handouts” (p. 61).