The fact that he died last Thursday, the same day of Manoel de Oliveira, this legend of cinema, could have caused the obituary José da Silva Lopes were scarce. Fortunately this has not been the case, coming from all walks, one of our best economists, that combined a deep knowledge to a rare independence of judgment. Despite being on the left, never avoided saying inconvenient truths, even against himself. I think that was the only one now retired economist who defended the cuts in higher pensions, obviously knowing that this would harm, standing out clearly from all the others who put their personal interests above the interests of the country.
He was also an engaging speaker and I remember vividly his speech in thanking a conference organized by the Bank of Portugal in his honor. The central bank has already announced, in fact, in good time, which will organize another conference in the economist memory.
At the conference spoke of his professional and political experience, having said that began a good time, with the demand for qualified technicians getting higher and the limited supply.
Following the April 25 was briefly finance minister during a troubled period and was Governor of the Bank of Portugal between 1975 and 1980. During this period had to contend with the obvious need to devalue the shield and opposition politicians, who feared that undermine the popular support to the new regime. It can be said that, at least to some extent, were politicians who, by ignoring the warnings of economists, forced the first coming of the IMF shortly after.
In 1976, an MIT team led by Eckhaus and including Paul Krugman, was in Portugal, at the request of Silva Lopes, to help at that stage of great change. In the obituary already written to you on your blog, Krugman points out that this one said to have only six months of reserves [currency] is like not having any reservations. According to the American economist, the idea was a key inspiration in one of his early work on currency crises.
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