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:
“One classic American landscape haunts all of American literature. It is a picture of Eden, perceived at the instant of history when corruption has just begun to set in. The serpent has shown his scaly head in the undergrowth. The apple gleams on the tree. The old drama of the Fall is ready to start all over again.”
—Jonathan Raban (b. 1942)
“We know only a single science, the science of history. One can look at history from two sides and divide it into the history of nature and the history of men. However, the two sides are not to be divided off; as long as men exist the history of nature and the history of men are mutually conditioned.”
—Karl Marx (1818–1883)
“I am ashamed to see what a shallow village tale our so-called History is. How many times must we say Rome, and Paris, and Constantinople! What does Rome know of rat and lizard? What are Olympiads and Consulates to these neighboring systems of being? Nay, what food or experience or succor have they for the Esquimaux seal-hunter, or the Kanaka in his canoe, for the fisherman, the stevedore, the porter?”
—Ralph Waldo Emerson (1803–1882)