Science/Economics paper by Rab, Virág
The Originality of Loránt Hegedüs
Type of Abstract (select):Abstract (max. 250 words):
While analyzing the crises of the 20th century and their effects on the Hungarian society, I became aware of a stereotypic characteristic of the Hungarian society, namely: passivity. The reason behind this could be that “We can never decide our own destiny”, since our revolutions failed and we got the circumstances shaping our lives ready, just as we did with our paternalistic leaders. As Loránt Hegedüs Minister of Finance 1920/21 was nearly fifty years old when he witnessed the dissolution of the Austro-Hungarian Monarchy, the First World War, the Bourgeois Democratic Revolution, the Hungarian Soviet Republic and the collapse of the world economy in 1929, he followed a different behavioral pattern, or rather, a different coping strategy. From his writings and economic plans, a different world view and set of values stand out. Because of these special personal characteristics he was able to effectively react and respond to the challenges of that time. The significance of his plans for the economic and financial reconstruction was recognized by American economists as well and the Columbia University requested his help to overcome the postwar financial challenges in the USA. The originality of Hegedüs’s work is originated in the fact that when he considered the crises as challenges, he mostly focused on the possible solutions instead of the failures while realized the importance of taking up responsibility and adaptation in solving the problem.
Brief Professional Bio (max. 100 words):
Virág Rab is an assistant professor at the University of Pécs, Hungary. She holds a PhD in History. The title of her doctoral dissertation was: "Diagnoses and Therapies: Financial Experts’ Ideas to Solve the Post-war International Financial Problems, 1919-1920".(2007). She has been involved in both teaching activities and research at the Department of contemporary History. Her courses include lectures on political and economic history of 20th century Hungary and Central-Europe. Her current research focuses on Hungarian economy from a global perspective.