Per Jacobsson

Per Jacobsson (5 February 1894 – 5 May 1963) was a Swedish economist who served as the first and longstanding chief economist of the Bank for International Settlements from 1931 to 1956, and as the managing director of the International Monetary Fund (IMF) from 1956 until his death in 1963. Early life Per Jacobsson was born in Tanum, Bohuslän, in Sweden. His parents were Carl Julius Jacobsson, a veterinary surgeon, and Emma Kristina Jacobsson (maiden name Melander). His family moved to Vasteras, where he attended Rudbeckianska a secondary school founded in 1623. He then went to Uppsala University from 1912 - 1919. In his first term he studied economics, statistics and sociology, among other topics, but then in his second term switched to studying law. He received two law degrees from the university, in 1917 and 1919 respectively. However, he was able to undertake extensive studies in economics, mastering the subject. In 1914 he had an oral examination in economics given by David Davidson an economics professor. After that, Davidson told Per Jacobsson to consider succeeding him as an economics professor at the University. In the course of his studies, Per Jacobsson was highly influenced by Knut Wicksell. Over time at university he became more sociable. In 1917 he became president of the student club linked to his home town, Vastmanland-Dala Nation and in 1918 president of a student liberal political club, Verdandi. Before he obtained his last degree, he spent a considerable amount of time in Stockholm. There he came into frequent contact with leading Swedish economists, joining an economics club started in 1917. Its senior members were Gustav Cassel, David Davidson, Knut Wicksell, and Eli Heckscher. He also had diverse work experiences, drawing on his knowledge of law and economics. He was variously: researcher for a commission on the post-war Swedish economy, assistant in the Court of Appeals, clerk at the Ministry of Finance, assistant teacher at the School of Forestry, and writer for various newspapers. In the latter role he wrote a review of a book by Gustav Cassell, who was Impressed by it. When Marcus Wallenburg Sr. asked Cassell to recommend a Swede to join the Secretariat of the League of Nations, he suggested Per Jacobsson. He was offered the post and accepted it.