Though he is not well-known today, Friedrich Lutz’s publications in monetary economics, monetary policy, and international monetary theory established him as a leading expert in the field of money and banking. Lutz, who twice served as president of the Mont Pèlerin Society, was also important as an inspiring teacher who explained complex phenomena in a clear and straightforward manner, something that many students—including Federal Reserve Chair Paul Volcker—described as influential in their decision to study monetary economics.

This full text of this article will be available on this page nine months after its initial print publication. To read it now, please buy this issue in print or downloadable eBook & PDF format, or in the Independent Review app on iOS or Android, or on Magzter which offers digital access on smartphones, tablets, and web browsers.
Lachezar Grudev is interim professor of political economy at the Faculty of Business and Economics at the University of Applied Sciences Zwickau, Germany.
EconomistsEconomyPhilosophy and Religion