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Thomas Balogh, 1905-1985.
Hungarian-born, L.S.E.-trained, economist and British economic adviser.
Born in Budapest, Thomas Balogh studied law and economics at the universities of Budapest and Berlin. In 1928, Balogh spent two years on a Rockefeller fellowship in the United States, and passed as a financial analyst through various central banks - the Reichsbank, Banque de France and Federal Reserve, before emigrating to England, armed with a letter of introduction from Joseph Schumpeter. With the assistance of Keynes (who was much impressed by his expertise on banking and the financial system), Balogh got a job with the banking firm of O.T. Falk & Co.
In 1934, Balogh became a lecturer at UCL, and in 1940, became a lecturer at Balliol College, Oxford, subsequently elected in 1945. .Balogh was instrumental in established the Oxford Institute of Statistics, which would host several European emigré economists. He served as the economic advisor to Harold Wilson from the 1964 Labour government.
Of somewhat Keynesian stripe (he was a friend of Kaldor), Thomas Balogh saw economic growth as the key to all policy. Vociferously opposed the rise of the Monetarists, and denounced their rising influence in economic policy.
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