Rueff
From Wikipedia, the free encyclopedia
Jacques Rueff (born August 23, 1896 in Paris - April 23 1978) is a distinguished French civil servant and a brilliant economist, who was said to be De Gaulle only finance's advisor. Nicknamed the "Piggy-box of the Republic" (translate "tirelire de la république").
Summary
- 1 Bio
- 2 Work
- 3 Quotations
- 4 External links
Jacques Rueff graduated at the distinguished French "École polytechnique" (Class "X" of 1919, along with L.Leprince-Ringuet or Saint-Gobain, among countless otherpresigious alumni like Carlos Ghosn. In 1926, Raymond Poincaré, president of France ("Président du Conseil") and Minister of Finances appoints him as a "chargé de mission", to head an economic task force. Later, Jacques Rueff becomes ""attaché financier", at the french embassy in London. In 1939, he is appointed under-governor of the [Union Bank of Switzerland] (translation "sous-gouverneur). He then becomes head of the general supervising of funds transfers (translate "Mouvement général des fonds"). Starting from 1945, he heads the French Conference of Reparations.
Co-founder of the Society of Mount Pèlerin, in (translate "Société du Mont Pèlerin"). During the roaring fifties, he occupies various functions in the European bodies, at the Court of Justice of the European Coal and Steel Community(ECSC) and at the European court of justice.
In order for the Fifth Republic ("La Cinquième République") to start with a healthy clean slate, he is appointed Head of the Special Task Force, which aims at sobering up public finances. This task force leads to the "Rueff plan", which is applied by Antoine Pinay, under the supervision of Charles De Gaulle, as Head of the Council ("Président du Conseil"). The "franc" becomes convertible again at last. The exchange control becomes a bit looser.
Foreseeing the emerging European Community Common Market, Rueff recommands cutting barriers to competition in his second report. Along with co-writer Louis Armand and helped by an ad-hoc comittee of experts, the "plan Rueff-Armand" - as the press would call it - is published in 1960. The full title of the report is "Rapport du Comité pour la suppression des obstacles à l'expansion économique", which translates as "Report on supressing barriers to economic growth".
Jacques Rueff is elected a member of the Academy of Moral and Political Science and, in 1944 at the "Académie Française".
Jacques Rueff has always remained a firm opponent of Lord Keynes ideas. His antagonistic viewpoints first appeared in the Economics Journal, on the issue of transfers, in relationship with German war reparations. Jacques Rueff refused such transfers in the late 30's and in 1947, against the General Theory of Employment, Interest and Currency. James Tobin becomes his main contradictor in 1958, in the Quarterly Journal of Economics. Almost thirty years later, he explained his beliefs once more in "The End of the Keynesian Era", first published in the authoritative French newspaper "Le Monde".
