An Old-and-new Aspect for Interpreting the Course of Life of Loránt Hegedüs as an Economist
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Loránt Hegedüs’ oeuvre touches on a surprisingly wide spectrum of economics. Of his writings on economic policy, his drafting of consolidation in 1920 was the best-known, but he also wrote a number of works dealing with theoretical issues, and he also left his mark on the contemporary Hungarian economy as a leader or member of the management of economic and financial institutions. Hegedüs’ multifaceted activities may be behind this diverse economic work, as he was an economist, politician, scientist, belletrist and publicist in one person. The study, therefore, starts from the premise that his economic activity is worth examining in a broader perspective, in connection with his other activities. Its aim is to point out the connection points between economics and his other activities. The study first examines the external conditions of Hegedüs’ economic operation, namely the political and economic environment that greatly influenced the development of his career. It then presents the circumstances of Hegedüs’ career choice, the individuals (family members and professors) who influenced him; in the meantime, it also points to the origins of some of his important economic ideas in connection with his studies. The study analyzes the consequences of Hegedüs’ versatility on his economic work by analyzing specific examples (the issue of emigration, his economic reconstruction plan). Among other things, it concludes that not only Hegedüs’ diverse activities played a decisive role in the development of his oeuvre in economics, but also that he had experience in both theory and practice, and that the latter was decisive.