Aladár Madarász is a senior research fellow at the Institute of Economics of the Hungarian Academy of Sciences, where he has been working since his graduation from the Budapest (then Karl Marx) University of Economics in 1969. He begun to study the theories of Marx, Schumpeter, Keynes and the economi utopias of the Victorian age, later his research interest was focused on mercantilist ideas and classical political economy. He has been participating in different international research projects on shaping the Scottish political economy in the XVIII. century, on the institutionalization of economics in the XVIII-XIX. centuries, on the emergence of “Historical Economics”, on the history of political and social concepts etc. He was wisiting research fellow at the IISH in Amsterdam, at John’s Hopkins University,at the IWM in Vienna, at Kings’ College in Cambridge, SCASSS in Uppsala, at Collegium Budapest. He published several essays in books and articles on different topics in the history of economic thought and edited Hayek, Hirschman, Keynes and Schumpeter in Hungarian. He taught at Roland Eotvos University (1985-1990), University of California, University of Wisconsin Education Abroad program (1989-1991), Rajk László College 1988-1994), Central European University (1995-1996), Invisible College (1996) and now is teaching at the Budapest University of Economics. In 1998 he got the Széchenyi Professorial Scholarship. Since 1990 he is actively participating in the Budapest local government:
1991-93 he was Economic Adviser to the Mayor of Budapest.
1993-94: Director of the EBRD-World Bank Public Transport Project.
1994-: Member of the City Council and Deputy Chairman of the Committee of Finance.
He is regularly invited by different institutions (World Bank, EBRD, Euromoney, etc.) as an expert on local finances and infrastructural projects.