Jelle zal wel zien: Jelle Zijlstra, een eigenzinnig leven tussen politiek en economie

This biography sketches the life of Jelle Zijlstra. The youth of this economist from the village of Oosterbierum was marked by the crisis of the 1930s. This period shaped his ambition, motivation and thinking about economics and politics. Zijlstra’s career took off with the ‘hour of economists’, following the Second World War.

After building himself a reputation as professor at the Free University, Zijlstra became Minister of Economic Affairs in 1952. In 1959 he switched to Finance. As an expert, he managed to rise above party politics. His authority increased rapidly. The high point was reached in 1966. As prime minister of an interim cabinet, he was widely seen as the only one who could solve the financial problems of the country: ‘Jelle sorts it out’.

All this time, his policies as minister were guided by an overarching vision on the relationship between government and the market, economic freedom and planning. Influenced by the harsh realities of politics, the Keynesian accents slowly faded from his thinking. Increasingly his views were determined by his classic-monetarist training.

Between May 1967 and December 1981, Zijlstra watched over the Dutch economy as president of De Nederlandsche Bank. Becoming president of Bank for International Settlements as well, Zijlstra became a key player in global monetary diplomacy. He witnessed the world of money and capital change radically. His knowledge and influence transcended national borders. Crowning his extraordinary career, the presidency of Bank and BIS made Zijlstra one of the most powerful Dutch politicians after the war.