Leonhard Gleske

Leonhard Gleske (born September 18, 1921 in Bromberg , Poland; † November 25, 2019 in Bad Homburg ) was a German economist .

Life

Gleske came from Bromberg, studied economics in Hanover and Heidelberg and received his doctorate in 1952. rer. pole. From 1951 to 1955 he was a research assistant in the economics department of the Bank deutscher Länder , and then worked in the private banking industry. From 1958 to 1964 he worked as director for currency issues at the Commission of the European Economic Community .

In 1964 he was appointed President of the Landeszentralbank Bremen and in this function was a member of the Central Bank Council of the Deutsche Bundesbank . He later moved up to the board of directors of the Bundesbank and was responsible for the foreign exchange market, currency reserves and international currency issues until his departure in autumn 1989. He then worked as a senior advisor to the three German branches of the Bank of Tokyo and as an advisor to the International Monetary Fund in setting up a modern banking system in Poland. Gleske was a long-time member of the CDU's Economic Council and chairman of the Federal Commission “Economy and Currency”.

From the mid-1980s he taught as an honorary professor at the Universities of Münster and Mannheim .

Act

In Liquidity in the Banking Industry , Gleske deals with the mechanism of granting credit ( credit mechanics ), the necessary liquidity of the banking system for granting credit, and confirms from a banking and economic perspective that investments finance savings and not the other way around.

honors and awards

• 1981: Great Cross of Merit of the Order of Merit of the Federal Republic of Germany
• 1985: Honorary doctorate from the economics faculty of the University of Münster
• 1986: Large Cross of Merit with Star of the Order of Merit of the Federal Republic of Germany
• 1989: Large Cross of Merit with Star and Shoulder Ribbon of the Order of Merit of the Federal Republic of Germany
• 1999: Ludwig Erhard Commemorative Medal from the Economic Council of the CDU
• 1999: Honorary membership of the CDU Economic Council

Web links

• Leonhard Gleske 90 years old , in: Frankfurter Allgemeine Zeitung, September 16, 2011
• Literature by and about Leonhard Gleske in the catalog of the German National Library

Individual evidence

1. ^ Obituary notice Leonhard Gleske , FAZ from November 30, 2019
2. ^ Mourning for honorary professor Dr. Leonhard Gleske. University of Mannheim, November 28, 2019, accessed on November 28, 2019 . 
3. ^ Leonhard Gleske: The liquidity in the credit industry. Frankfurt 1954. p. 53:
   “The amount of money created by the banking system through the granting of credit depends crucially on whether the payments of the debtors flow to other debtors or to creditors or, conversely, on whether the payments of the creditors flow to other creditors or debtors. As a rule, an increased granting of credit, an increased use of credit by the banks leads to an increase in the volume of money, but it need not be so. "
4. ^ Leonhard Gleske: The liquidity in the credit industry. Frankfurt 1954. p. 41:
   “The term bank credit has a further content in this context. It does not only include short-term bills of exchange and overdrafts, but also long-term loans and investments of all kinds in the bank balance sheets, insofar as they are offset by deposits and obligations of the banks not arising from the issue of securities. In this sense, bank loans also include the mortgages and securities listed on the assets side of the bank balance sheet, in particular mortgage bonds, industrial and municipal bonds, government bonds and stocks. It is not customary to include securities in the bank loan volume, but if they are in possession of the banking system, their economic character allows such an interpretation. "
5. ^ Leonhard Gleske: The liquidity in the credit industry. Frankfurt 1954. p. 59:
   "Investments in the economy are financed by bank loans and the amount of the financing is equal to the savings made by the factors of production."
6. ^ Leonhard Gleske: The liquidity in the credit industry. Frankfurt 1954. p. 64:
   “The accumulation of liquid funds, which flowed into the economy as surplus revenues and“ invested ”in deposit accounts, as well as the formation of savings in the production factors, insofar as they take place in savings accounts in the credit system, initially mean the shutdown of money was previously tied in the money cycle. The continuation of the production process at the previous level is only possible with such a set-aside through a "compensatory" money creation of the banking system, because this is necessary in order to keep the "active" money supply serving the satisfaction of the circulatory money requirement at its old level. The total volume of money increases accordingly, with the increase - provided that the level of employment and wage rates remain the same - only extends to the "inactive" part of the volume of money. "