By the mid-1950s, advocates of floating seem to have won over the two “American Austrians,” Gottfried Haberler and Fritz Machlup, both former students of von Mises and advocates of the gold standard who became key protagonists in the neoliberal crusade for floating exchange rates. They were joined by others from the German tradition of the Freiburg school of ordoliberalism, including Friedrich Lutz and Fritz Meyer. At the discussions within the MPS, however, the position remained unpopular. As reported from the 1957 meeting in St. Moritz, “the advocates of flexible exchange rates [were a] minority” and were “accused of monetary nationalism by Prof. Heilperin.”

Dieter Plehwe, Quinn Slobodian & Philip Mirowski (eds.), Nine Lives of Neoliberalism, loc. 431