History
The Institute was founded by C. Fred Bergsten in 1981, in response to a proposal from the German Marshall Fund. It moved to its current award-winning building on Massachusetts Avenue in 2001.
In 2006, a capital campaign led to the creation of a sizeable endowment, strengthening the Institute's independence. Previously known as the Institute of International Economics, it changed its name that same year in recognition of Peter G. Peterson's role in the capital campaign and for his longstanding support of the Institute since the early 1980s.
In May 2012, the Institute announced that Adam S. Posen would succeed Bergsten as President, with effect on January 1, 2013.
In December 2012, the Institute released Policy Brief December 2012 where they advise to take steps against "eight of the most significant currency manipulators", this list contains Denmark which shows the Institutes lack of knowledge or poor analysis capability. As a part of the EU union but not a part of the currency EURO, The Danish National Bank has to intervene in the currency market as a part of the ERM II agreement, so the "Danish Krone" exchange rate is held within ± 2.25% of EUR - before EUR the "Danish Krone" where bound to "Deutsche Mark" in the same way known as "Fastkurspolitik"
The Institute's annual budget is about $11 million and it is financially supported by a wide range of charitable foundations, private corporations, and individuals, as well as earnings from its publications and capital fund.
Read more about this topic: Peterson Institute For International Economics
Famous quotes containing the word history:
“The disadvantage of men not knowing the past is that they do not know the present. History is a hill or high point of vantage, from which alone men see the town in which they live or the age in which they are living.”
—Gilbert Keith Chesterton (1874–1936)
“Anyone who is practically acquainted with scientific work is aware that those who refuse to go beyond fact rarely get as far as fact; and anyone who has studied the history of science knows that almost every great step therein has been made by the “anticipation of Nature.””
—Thomas Henry Huxley (1825–95)
“There is nothing truer than myth: history, in its attempt to “realize” myth, distorts it, stops halfway; when history claims to have “succeeded” this is nothing but humbug and mystification. Everything we dream is “realizable.” Reality does not have to be: it is simply what it is.”
—Eugène Ionesco (b. 1912)