Leland B. Yeager
American economist (1924-2018)
Leland Bennett Yeager (; October 4, 1924 – April 23, 2018) was an American economist dealing with monetary policy and international trade.
Biography
Yeager graduated from Oberlin College in 1948 with an A.B. and was granted an M.A. from Columbia University in 1949 and a Ph.D. from there in 1952. He had previously served in the United States Army in World War II, translating Japanese codes. He temporarily served as the Vice President of the Interlingua Institute from 1997 to 1998 after Deanna Hammond died. He was a regular contributor to Liberty magazine and an occasional contributor to the "Mises Daily".
He was a professor emeritus at both Auburn University and the University of Virginia. His monetary writings have strongly opposed Keynesian orthodoxy and have emphasized the crucial role of money in business cycles. His 1956 essay, "A Cash-Balance Interpretation of Depression" maintained that depression was caused by "an excess demand for money, in the sense that people want to hold more money than exists." In this, he was a member of the monetarist school exemplified by Milton Friedman.
His subsequent writings tilted towards a laissez-faire approach to monetary reform. In his 1989 paper "Can Monetary Disequilibrium Be Eliminated", he advocated that government "be banished from any role in the monetary system other than that of defining a unit of account or numeraire." Yeager argued in favor of constitutional monarchy.
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Biographical claims are most persuasive when dates, appointments and relationships can be traced to records created close to the events described. The source revision retrieved here is dated Jun 7, 2026. The linked authority identifier is Q6520710. VIAF identifies the subject as 71460738. The Library of Congress control number is n50014255. 3 of 3 selected statements include explicit references; 0 carry qualifiers and 0 use preferred rank. The first chronological checks are 1924, 2018, 1948 and 1949.
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