Antal E. Fekete

Antal Endre Fekete, born on December 8, 1932, in Budapest, Hungary, was a renowned mathematician and monetary economist whose contributions left a lasting impact in both fields. After completing his education at Loránd Eötvös University in Budapest, where he earned a degree in mathematics in 1955, Fekete emigrated to Canada in 1957, seeking new opportunities following the political unrest of the Hungarian Revolution.

In 1958, Fekete began his academic career at Memorial University of Newfoundland, where he dedicated 35 years to teaching and research. His tenure culminated in 1993 with his retirement as a full professor. Along the way, he also served as a visiting professor at prestigious institutions such as Columbia University, Trinity College Dublin, Acadia University, and Princeton University. Notably, his 1974 lecture at Princeton in a seminar led by Paul Volcker marked his initial steps into the realm of monetary economics.

Although his formal training was in mathematics, Fekete was largely self-taught in economics, developing a profound interest in the gold standard and monetary theory. In 1984, he joined the American Institute for Economic Research as a Visiting Fellow and later provided consultation on fiscal and monetary policy in Washington, D.C., collaborating with Congressman William E. Dannemeyer. His expertise also took him to Francisco Marroquín University in Guatemala City, where he taught economics as a visiting professor in 1996.

A vocal advocate for the gold standard and Adam Smith’s Real Bills Doctrine, Fekete often challenged prevailing economic doctrines. His essay “Whither Gold?” earned first prize in a competition organized by Bank Lips. He also contributed to public understanding of sound money principles as Senior Editor for the American Economic Foundation, creating the widely circulated “Ten Pillars of Sound Money” pamphlets.

Even after retiring from his academic roles, Fekete remained active as a writer, lecturer, and consultant. He collaborated with notable institutions like the Foundation for Economic Education and Sapientia University in Romania. His work also extended into practical applications of his economic theories, such as advising Mexican entrepreneur Hugo Salinas Price on initiatives to introduce a silver-based monetary system.

Antal E. Fekete passed away on October 14, 2020, in Budapest, Hungary. His extensive writings and lectures continue to inspire discussions on monetary reform, the role of gold in global finance, and the value of sound economic principles.