Famous Hungarian Economists

Apart from being a political economist, Karl Polanyi was also a prominent Hungarian political leader. The Great Transformation remains his best-known work. He taught at institutes such as the Columbia University and is known for proposing the idea of a cultural version of economics known as substantivism.

Gyula Andrássy not only served as Hungary’s prime minister but also created the 1879 the Austro-German alliance with German chancellor Otto von Bismarck. He remained associated with Hungarian public affairs even after his retirement. He was the first Magyar statesman to hold a long-term European position.

Renowned Cambridge economist Nicholas Kaldor was one of the key figures in the post-Keynesian era of economics. He is best remembered for his contribution to the endogenous business cycle theory and the Cambridge version of the growth theory. He is also credited with coining the term convenience yield.

Not only did István Tisza serve as the Hungarian prime minister, but he also supported the Austro-Hungarian dualist government. A qualified lawyer, he also had doctorate degrees in economics and political science and also dealt with macroeconomic issues. His father, Kálmán Tisza, too, had been the prime minister of Hungary.

A seasoned Hungarian economist, Gordon Bajnai has not just led his country as its prime minister but has also been associated with various investment and equity companies, such as CA IB Securities, the Wallis Group, Campbell Lutyens, and Meridiam. He is also a skilled soccer player.