The Academy 
of Sciences 
of Lisbon
Corresponding (Full)

member since 1997 (2008)

Chair 18L (2013)

Last updated 20 November, 2019

Missed meeting of full members 19 November due to a road hazard, and Angolan member Manuel Alves da Rocha also missed it, sorry to disappoint.

Book launch on 31 October, Salazar and financial cleansing by João Sousa da Câmara with my preface. This special launch took place at the Academy, in the same room as the joint session below because the author father and grandfather were members of the Science class as the President recalled at the beginning to yield the chair to Pedro Martínez, from the Humanities class (Law section) and dean of the Academy. The book was presented by Gonçalo Sampaio e Melo, Law section, and as prefacer I presented a few slides. After a comment from his son, who wrote an afterword, the author made a short statement, thanking participant and the numerous public to enjoy drinks which lasted well into the evening!

Aside from remembering the negotiations of the so-called League of Nations loan (which never materialized) and the article by Salazar for Foreign Affairs (which was never published), I took a public choice perspective on the interplay between financial constitution and reputation in 20th century Portugal, contrasting reforms by several Finance Ministers (one of them my predecessor in chair 18L). This “postface I did not write” draws on the item 526 of the list of publications.


Joint session on 31 October  (it was originally scheduled for May 16, canceled abruptly, rescheduled for May 30 and then again with apologies in writing from the Secretary General): dedicated to tropical agricultural research by M.M. Romeiras and my overview of Science, Business and Culture for Development, with some reminiscence from our time at IICT.


Report on World Meeting Paris 2019 Heritage Sciences and Technologies, where I signed the (amended) Declaration of behalf of ACL; see the very short presentations of 12 slides used at the 21 & 28 February sessions (respectively Sciences and Humanities) and cut in half at the Royal Academy of Belgium on 27 April.


Summary of launches dubbed ABCDE in 2019

After launch of red book at Academy (10 May), Porto (27 September) and Coimbra (17 October), as mentioned below, three others followed, with Banco de Portugal to follow in 2020:

Nova on 22 January (one year after WP # 619) an initiative of the Economics Club (NEC) powered by Pita Barros, one of the authors, graced by the presence of the secretary general and tireless José Andrade, who sold a total of four books! My presentation here.

Católica Lisbon on 10 April

Católica Luanda on 2 May


Elections on 20 December: common sense prevailed and the incumbent withdrew at the last minute, allowing a smooth transition. I welcomed the result and called for an ethic committee in the spirit of Mandela. My statement is reproduced below.

After a long tenure of three years there is high drama with contenders, which can be summarized as follows: in one of the classes he who wants can’t; those who can won’t with possible knock-on effects on the other class. In effect everything went smoothly with Carlos Salema being elected President by unanimity, Artur Anselmo not standing and his vice-president Jorge Gaspar being elected by a wide margin. Having argued in the meeting of the Humanities Class the week before that Anselmo could not stand again after five years, I read a statement making a wish for renewal, which turned out to be carried forth.


Alexandre Castro Caldas Honors Daniel Serrão (1928-2017) and is received by José Manuel Toscano Rico on 6 December, made me think of my own reception, joint with Armando Lencastre, b. 1918 who died on the same year but I did not find out until a few months ago…


20 November attended Colloquium on Nelson Mandela (with South African and Algerian Ambassadors also present, aside from speakers): recalling his admirably succinct proclamation by Mário Júlio de Almeida Costa on 13 November, 2008 (very different from my introduction to the panel at the conclusion of his Centennial, on 5 December)

Will new by-laws be approved before elections? No

Note to 2011 presentation by Jean-Pierre Contzen to appear in print  (23/09/18)


Book launch on 10 May


IMG_1662.JPGClick for Macro de Economia Aberta: Ensino e prática depois de Abril


Building on a Workshop to celebrate the 40th anniversary of the last conference at the Symposium on Keynesian Studies by my predecessor - who organized the volume - I gathered additional contributions into Open economy macro: teaching and practice after April (a reference to new entrants after the 1974 revolution).  The authors include the 17 fellows - P. Pitta e Cunha (13L, FDUL); José Luís Cardoso (15L, ICS); J. Braga de Macedo (18L, UNL); Manuel Porto (FDUC); Jaime Reis (8L, ICS); António Pinto Barbosa (UNL); Manuel Pinto Barbosa (UNL); Diogo Lucena (UNL); J. A. Sousa Andrade (FEUC); Isabel Horta Correia (UCP); Pedro Pita Barros (UNL); Eduardo Paz Ferreira (FDUL); Teodora Cardoso (CFP); Maria de Fátima Bonifácio (ICS); José Alves da Rocha (UCAN); Fátima Moura Roque (UCP); Renato Flores (FGV). There are also 8 guest contributors: Carlos Bastien (ISEG); Fernando Brito Soares (UNL); João César das Neves (UCP); João Rodrigues (FEUC); Luís Máximo dos Santos (BdP); Maria Eugénia Mata (UNL); Miguel Cadilhe (FEP). This is part of the new project on economic education agreed at the section meeting of 27 June 2017.

The workshop followed a meeting with Banco de Portugal, where I agreed to write on “Alfredo de Sousa and the four aces”; draft minutes were completed, sent to participants and funder on 30 December and published as NSBEWP 619. The publication by the Academy counted on CEIC/UCAN and BFAngola support and further launches (with contributors listed above) have taken place in Porto (at FEP moderated by J. Varejão on 27/09) and Coimbra (at FEUC with FDUC and J. Reis on 17/10).


18 May, 2017 @16:30: Olivier Blanchard inducted as fellow as announced on 16 September 2010

Letter to Queen Lusophonia drafted on Easter Sunday (with motivation) and posted for discussion on Mayday in anticipation of a presentation at the University of Lisbon.


All economics and finance section and Portuguese-speaking foreign members meet on 19 May, 2016 and plan future meetings as described in the minutes.

Lusopheconomic luncheon on 7 January, with all members plus Alves da Rocha (Angola) and Renato Flores (Brazil), at Pão com Canela the same place where we met with Silva Lopes last year.


17 December 2015 Elections according to new by-laws: Anselmo elected President for three years, with Carlos Salema becoming President of Science Class and new vice-president


Tribute to Jean-Pierre Contzen (12 February 1935 - 27 October 2015) and Mariano Gago (16 May 1948 - 17 April 2015) at ACL on 26 November, the latter based on NSBEWP#595 and Nova Cidadania 57


Note on section meeting of 25 June, new members.


28 May Greeting José Luís Cardoso upon taking Armando Gonçalves Pereira chair (15L)


21 May launch of 2nd edition of Writing to Queens while Crises Proceed in memory of Manuel Jacinto Nunes at NOVASBE Biblioteca Almada Negreiros with Paulo de Pitta e Cunha (section dean), Francisco Costa (CEO SDM), Kirsty Hayes (British Ambassador), Lutgarda Nunes (founding BAN librarian), students in the G&G course and IICT researchers (see below).


Note on section meeting of 14 May, new members, book launch announced


Mariano Gago, who had served for 12 years as Minister of Science died suddenly on 17 April. He had been a great friend of IICT after Jean Pierre Contzen’s second evaluation in 2005.


Silva Lopes dies on 2 April. He had been elected to Jacinto Nunes chair on 24 February and when I called to inform him and asked about attending the Energy@CPLP seminar, he told me he could not because of ill health. On the following day he underwent neurosurgery and died in hospital. This generated widespread bereavement among economists including a heartfelt post from Paul Krugman “The world has lost a great, good, and incredibly likable man” and the decision of Banco de Portugal to host a conference in his memory.

The dean of the 6th section attended the funeral on 8 April and evoked his memory at the 9 April session. I had just finished and expanded edition of Writing to Queens, dedicated to the memory of Jacinto Nunes, where I mentioned several contributions of Silva Lopes to the LQL project. While I decided to leave the book, sponsored by the Madeira Development Company (SDM), as is, I made myself available to his son and daughter for whatever they felt could be done on his contribution to the Academy, where he left many friends.


Workshop on energy@CPLP announced at 8 (C) and 15 (L) Jan sessions

"A energia: presente e futuro numa perspectiva da CPLP "

Academia das Ciências de Lisboa, Dia 25 de Fevereiro de 2015


1 - Potencial energético dos países lusófonos (Manuel Ferreira de Oliveira*, comenta Rui Vilela Mendes**)

2 – Crise financeira e sustentabilidade (Jorge Braga de Macedo**, comenta José da Silva Lopes)

3 - Combustíveis fósseis na CPLP (Manuel Alves da Rocha, comenta Jean Pierre Contzen)


4 - A opção nuclear (José Carvalho Soares)

5 - Energias renováveis (Manuel Collares Pereira)

6 - A fusão nuclear: Trazer o Sol para a Terra (Carlos Varandas)

* convidado; ** organizadores


Note on section meeting of 5 January, with follow-up project LQL on energy@CPLP


Elections December 18, 2014: no surprises

Greeting the new section dean, Paulo de Pitta e Cunha, November 27 upon his taking Teixeira Ribeiro’s chair, 13L


Note on section meetings after the dean’s death, convened by the new dean (including correspondence with the class president).


Manuel Jacinto Nunes (1926-2014), dean of Portuguese economists, died on 14 July. On the way to Cemitério dos Prazeres, a short distance from the Basílica da Estrela, where he had officiated the funeral mass, Vitor Melicias accepted to help honor his memory in collaboration with the economics and finance section of the Lisbon Academy of Science, of which he was the dean.


On 14 November, 2013 I became the fourth to receive a numbered chair. I was received by the third Pedro Soares Martinez (chair 11L), while the first was the dean of section 6 Manuel Jacinto Nunes (8L). Our testimonies are in NOVASBE Working Paper nº 577 version 2, December.



Letter to Queen Lusofonia (LQL) project in association with DES/IICT and CG&G/FEUNL



13 December, 2012 Moreira and Arantes step down

Luis Aires de Barros (as noted below the president of Lisbon Geographical Society ) and Artur Anselmo are elected president and vice-president respectively while reform of statutes remains on the agenda

15 December, 2011 the longest elections in (my) memory…

17 December, 2009 I invoked Paul Samuelson’s death and announced on behalf of Manuel Jacinto Nunes, who could not attend and gave me his proxy vote, an initiative of the economics section for 2010 (code name LQL as above).




                click to enlarge book cover                                   


Gradual transition to full member

I was proposed to full member in mid 2007 by the dean of the section Manuel Jacinto Nunes and accepted by unanimity. Due to procedural oversight, the formal election (still by unanimity) was not carried out until 29 January 2008 under the chairmanship of the newly elected President Adriano Moreira.

Other presentations and events

Upon returning from the OCDE, I presented addresses on the global partnership for development in mid 2004 and on the 15th anniversary of entry of the escudo in the European Monetary System in April 2007.

On 14 March, 2002 the President, Professor Pina Martins, offered condolences to the family of Professor James Tobin, who had just passed away and  read a message I had sent invoking his memory.

On 8 February, 2002 I was asked by the President, Professor Pina Martins, to serve in the committee for the Fogaça award, chaired by Professor Veríssimo Serrão. The commitee met on 20 February, 19 March and again on 12 April.

On 31 May, 2000 I presented a revised version of my maiden presentation to the Academy From the real to the euro, via the escudo at ISEG in Lisbon. The seminar featured  Álvaro Ferreira da Silva and Rita Martins de Sousa, my co-authors in the paper War, Taxes and Gold: the inheritance of the realNova Economics Working Paper nº 318, March 1998, revised as ISEG Working Paper  WP 8/2000/DE, which appeared in Transferring Wealth and Power from the Old to the New World, edited by Michael Bordo and Roberto Cortes-Conde, Cambridge University Press, 2001 pp. 187-228.

On 18 May, 2000 I had made a shorter presentation with the same title From the real to the euro, via the escudo at  a conference on Atlantic Portugal sponsored by the Portuguese Cultural Center of the Gulbenkian Foundation in Paris. The text is available here.

Book launch
On 13 May, 1999 I launched my new book
Bem Comum dos Portugueses in the main hall of the Academy.

Having been proposed as corresponding member of the 6th section (Economics) by the late António Manuel Pinto Barbosa, Manuel Jacinto Nunes, Paulo de Pitta e Cunha and others, I was unanimously elected at the plenary session of November 27, 1997. In the first session I participated, on 12 February, 1998, Paulo de Pitta e Cunha presented a text on the euro and the stability pact.

Maiden presentation
My first presentation, on 18 June, 1998, was titled From Real to Euro, via Escudo. It was based on a conference presented at Turf Club in Lisbon on November 27, 1997 titled
The forgotten inheritance of the real (1435-1911) and on the paper War, Taxes and Gold: the inheritance of the real (with Álvaro Ferreira da Silva e Rita Martins de Sousa), Nova Economics Working Paper nº 318, March 1998, revised as ISEG Working Paper  WP 8/2000/DE, to appear in Transferring Wealth and Power from the Old to the New World, edited by Michael Bordo and Roberto Cortes-Conde, Cambridge University Press, 2001. This paper was also presented  at the 12 IHEC in Madrid in August 1998 and at a pre-conference in Buenos Aires, April 1997. It is dedicated to the memory of Professor Teixeira Ribeiro, Coimbra University, long-time member of the Academy who died at the time we were completing the first draft.
Other useful references for my maiden presentation including more recent work on real exit from the gold standard 1854-1891 and excerpts from chapter by Eugenia Mata and Nuno Valerio in Currency Convertibility (quoted below):

·  Europa e Lusofonia, Política e Financeira: Uma Interpretação, in Ensaios de Homenagem a Manuel Jacinto Nunes, Lisboa: Instituto Superior de Economia e Gestão, 1996 (item 142 in my bibliography ).

·  Portugal and European Monetary Union: Selling Stability at Home, Earning Credibility Abroad, in Monetary Reform in Europe, edited by Francisco Torres, Lisbon: Universidade Católica 1996 (item 136 in my bibliography ).

·  Currency Convertibility: The Gold Standard and Beyond, editor (with Barry Eichengreen and Jaime Reis), London: Routledge 1996 (item 135 in my bibliography ).

·  Convertibility and Stability 1834-1994: Portuguese Currency Experience Revisited, in Ensaios de Homenagem a Francisco Pereira de Moura, Lisbon: Instituto Superior de Economia e Gestão, 1995 (item 130 in my bibliography ).

·  Portuguese Currency Experience: An Historical Perspective, in Estudos em Homenagem a J. J. Teixeira Ribeiro, vol. IV, Coimbra: Boletim da Faculdade de Direito, 1980 (item 25 in my bibliography ).

Carregue aqui para ver uma versão em português 
Press here to see a version in Portuguese

Click here to return to my other activities

Click here to return to my homepage