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One of the Bretton Woods boys. Article gives a much-needed 25-words-or-less definition of BW. [EMAIL PROTECTED] Ezra Solomon, Who Shaped Finance Theory, Dies at 82 December 19, 2002 By PAUL LEWIS Ezra Solomon, an economist at Stanford University whose work helped shape modern theories of corporate finance, died on Dec. 9. He was 82. The cause was a heart attack, said the Stanford Graduate School of Business, which announced his death on Tuesday. Dr. Solomon's best-known book, "The Theory of Financial Management," appeared in 1963, shortly after he became a professor at Stanford. It is regarded as having helped change the study of finance from a descriptive process into a more rigorous, theory-based discipline. He served on the president's Council of Economic Advisers from 1971 to 1973, when the Nixon administration suspended the dollar's convertibility into gold and imposed an import surcharge and wage and price controls to try to recast the international financial system. A result was the end of the so-called Bretton Woods system of fixed but adjustable exchange rates for major currencies. That system, established at the end of World War II, was eventually replaced by the present system of floating exchange rates. Dr. Solomon was recruited to the council by its chairman, Paul W. McCracken. At his Senate confirmation hearings in June 1971, Dr. Solomon hinted at the startling economic moves to come that August when he indicated support for a floating dollar instead of one tied to gold. "I am not against letting the dollar float; it is one way of finding parity," he said. "It may become necessary that in the future we take the initiative and let the dollar float." Ezra Solomon was born on March 20, 1920, in Rangoon, Burma, when it was a part of British India. He graduated from the University of Rangoon in 1940 and then fled the Japanese army by going to India, where he joined the Royal Navy. In 1950, he received his doctorate from the University of Chicago. In 1956, he joined the graduate business school there as a professor of finance. He moved to Stanford in 1961. He was the author of 13 books. His wife, Janet, died last month. He is survived by three daughters, Catherine Shan Solomon of Newark, Calif.; Ming Solomon Lovejoy of Eureka, Mont.; and Laura Solomon-Oyarce of Stanford, Calif. http://www.nytimes.com/2002/12/19/obituaries/19SOLO.html?ex=1041294535&ei=1&en=d2e83c29c59c2492 HOW TO ADVERTISE --------------------------------- For information on advertising in e-mail newsletters or other creative advertising opportunities with The New York Times on the Web, please contact [EMAIL PROTECTED] or visit our online media kit at http://www.nytimes.com/adinfo For general information about NYTimes.com, write to [EMAIL PROTECTED] Copyright 2002 The New York Times Company <A HREF="http://www.ctrl.org/";>www.ctrl.org</A> DECLARATION & DISCLAIMER ========== CTRL is a discussion & informational exchange list. Proselytizing propagandic screeds are unwelcomed. Substance�not soap-boxing�please! These are sordid matters and 'conspiracy theory'�with its many half-truths, mis- directions and outright frauds�is used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. That being said, CTRLgives no endorsement to the validity of posts, and always suggests to readers; be wary of what you read. CTRL gives no credence to Holocaust denial and nazi's need not apply. Let us please be civil and as always, Caveat Lector. ======================================================================== Archives Available at: http://peach.ease.lsoft.com/archives/ctrl.html <A HREF="http://peach.ease.lsoft.com/archives/ctrl.html";>Archives of [EMAIL PROTECTED]</A> http:[EMAIL PROTECTED]/ <A HREF="http:[EMAIL PROTECTED]/";>ctrl</A> ======================================================================== To subscribe to Conspiracy Theory Research List[CTRL] send email: SUBSCRIBE CTRL [to:] [EMAIL PROTECTED] To UNsubscribe to Conspiracy Theory Research List[CTRL] send email: SIGNOFF CTRL [to:] [EMAIL PROTECTED] Om
