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Wolfgang Kasper has throughout his career made significant contributions to the field of economics through his research, publications, and advocacy work.
His institutional economics textbook has had a lasting impact internationally, while in Australia, he is remembered for his relentless efforts in promoting market deregulation.
His work has been translated into multiple languages, reflecting the global recognition and influence he had on the field of economics.
Wolfgang Kasper’s legacy as an economist, linguist, and traveller will continue to inspire and shape economic thought for years to come.
Wolfgang Kasper Biography
Wolfgang Kasper, born on 18 March 1939 in Germany, was a renowned Australian economist, linguist, and traveler.
Throughout his career, he made substantial contributions to the area of economics and rose to become Australia’s foremost advocate for market deregulation. He is also well-known internationally for his textbook on institutional economics.
Kasper’s schooling began at the University of the Saar’s Interpreters’ Institute in Saarbrücken, Germany, where he studied modern languages. He later studied law and economics at Saarbrücken and Kiel Universities, as well as academic institutions in London and Paris. During this time, he learned a lot about money and international economics.
Kasper began working for the German Council of Economic Advisors in the mid-1960s before joining the Kiel Institute of World Economics.
He received his Ph.D. summa cum laude in international finance from Kiel University. Under the auspices of Harvard University, he served as an advisor to Malaysia’s Minister of Finance in Kuala Lumpur in the early 1970s.
Kasper eventually made his way to Australia and enrolled at the Australian National University in Canberra. He was the University of New South Wales foundation professor of economics from 1977 to 1999. He served in this capacity at the Royal Military College, Duntroon, and afterwards at the Australian Defence Force Academy (ADFA) in Canberra.
Kasper also worked at prestigious institutions such as the Reserve Bank of Australia, the Organisation for Economic Co-operation and Development (OECD) in Paris, and the Federal Reserve Bank of San Francisco.
Kasper’s knowledge went beyond academics, as he conducted research and consultancy for multinational corporations and governments.
He acquired an early interest in international monetary reform and was a member of the famous Bürgenstock Group, which was instrumental in creating floating exchange rates in the late 1960s and early 1970s. He also did research and wrote books on themes such as international migration, industry relocation, and institutional economics.
He felt that a community’s economic growth potential was shaped by its habits, work practises, customs, legislation, and regulations.
Kasper’s push for market deregulation in Australia and New Zealand was one of his most remarkable accomplishments. He was a fervent believer in factor and product market liberalisation as a means of improving international competitiveness and long-term growth potential.
From 1999 until 2006, he was a senior fellow at the Centre for Independent Studies, a famous free-market think tank in Sydney, as a result of his advocacy work and expertise. In 2003, the Commonwealth government gave Kasper the Centenary Medal in honour of his services to economics.
Kasper spent his retirement on the remote south coast of New South Wales, away from his professional life.
Kasper died on 13 August 2023, while on a long winter sun holiday in Port Douglas, after a stroke at the age of 84.
Wolfgang Kasper’s Cause of Death
Wolfgang Kasper’s cause of death is reported to have been due to a stroke which he suffered leading to his demise.
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