Allan H. Meltzer

Allan Meltzer, an internationally renowned monetary policy economist, is a legend both for his ground-breaking work and in the greater Carnegie Mellon University community. He is recognized for his role in ending the Great Inflation of the 1980s and in shaping both U.S. and foreign economic policy.

The Allan H. Meltzer University Professor of Political Economy is heralded for his role in reversing practices leading to higher inflation over four decades. He was a valued advisor to multiple government administrations (including as a member of the President’s Council of Economic Advisers), the Federal Reserve System, the Treasury Department, the World Bank, foreign governments, and central banks.

Meltzer authored 10 books and 400 papers during his 60 years at CMU, including his seminal text “Why Capitalism” and the two-volume work that is recognized as the definitive history of the Federal Reserve. His writings have additionally appeared in numerous journals, including the business press both in the U.S. and abroad.

A Boston native, Meltzer earned his undergraduate degree in economics from Duke University in 1948 and did graduate work at UCLA. He received a Fulbright Scholarship to study French inflation during WWII.

After a year as a lecturer at Wharton, he joined the Tepper School faculty in 1957. In 1973, he co-founded the Shadow Open Market Committee, serving as its chair until 1999.

Among other honors, Meltzer was awarded: CMU’s 2014 Faculty & Staff Impact (Faculty Service) Award, UCLA’s distinguished professional achievement medal, the International Mensa Foundation’s Distinguished Teacher Award, the Bradley Award, the Harry Truman Medal for Public Policy, and the Truman Medal for Economic Policy.

He was named a distinguished fellow by the American Council for Capital Formation and the American Economic Association.