Bernard A. Lietaer

Bernard Lietaer (7 February 1942 – 4 February 2019) was a Belgian civil engineer, economist, author and professor. He studied monetary systems and promoted the idea that communities can benefit from creating their own local or complementary currency, which circulate parallel with national currencies.

Bernard Lietaer was born on 7 February 1942 in Lauwe, Belgium. He attended College of St Paul, Godinne from 1955 to 1961. He studied engineering at the Catholic University of Leuven, in Belgium, where, later in life, he held an assistant professorship of international finance. During his engineering studies, he was a member of the debating union Olivaint Conference of Belgium. After obtaining his M.Sc. in 1967, he went on to continue his studies at the MIT until 1969.

Lietaer's post-graduate thesis, published in 1971, included a description of "floating exchanges". The Nixon Shock of that same year eradicated the Bretton Woods system by decoupling the US dollar from the gold standard and inaugurated an era of "universal floating exchanges". Prior to that time, the only "floating exchanges" involved some Latin American currencies. The techniques which he had developed for marginal, Latin American currencies were for a time the only systematic research that could be used to deal with the major currencies of the world. A US bank negotiated exclusive rights to his approach and Lietaer began another career.