Nadler, Marcus

Nadler, Marcus

 

Born Aug. 29, 1895, in Cimpulung, in present-day Rumania; died Apr. 24, 1965. American economist.

An expert on banking, Nadler was associated with the US Federal Reserve system in 1926–27 and was a professor of financial theory at New York University from 1927. He was one of the founders of the “theory of people’s capitalism” and the author of works on the theory of credit and monetary circulation. His treatment of money came close to quantitative theory. Nadler recognized that under capitalism it is impossible to eliminate cyclical fluctuations of production but mistakenly believed that they can be softened through a “correct” credit and monetary policy. He recommended introducing credit restrictions when there was danger of inflation. Nadler’s basic concept reflected the interests of banking monopolies and their fear of an “excessive” inflationary cycle.

WORKS

Foreign Securities. New York, 1929. (With J. Madden.)
The Money Market and Its Institutions. New York, 1955. (With S. Heller and S. S. Shipman.)
People’s Capitalism. New York, 1956.
U.S. Economic Growth. New York, 1960.
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