By Lars Jonung, Ronald Findlay, Mats Lundahl

Bertil Ohlin, overseas exchange theorist, winner of the 1977 Nobel Prize in Economics, and chief of the Swedish Liberal celebration for greater than twenty years, is taken into account to be the foremost unmarried impression at the improvement of foreign economics within the 20th century. This quantity, celebrating the centennial of Ohlin's start, examines his existence and his effect on glossy financial proposal. It additionally includes the 1st English translation of his licentiate thesis, in which he first set out his concept of foreign alternate.

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Extra resources for Bertil Ohlin: A Centennial Celebration (1899-1999)

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Half of his contributions, appearing as articles, editorials, and comments, emerged in the 1920s and 1930s, before he moved finally into politics. Introduction 17 The Great Depression became the major intellectual challenge for the economics profession in Sweden, in particular, for the younger generation of economists. This generation, later to be regarded as the ‘‘Stockholm School’’ of economists, aimed at working out a ‘‘new’’ economics that could be used to counter the effects of the depression.

He criticized the text in many details, but added constructive comments, and ended with a positive statement about the possibility of increased use of local advisory citizen referendums—in words that I still remember clearly. He had been positive to efforts to promote such increased participation much earlier (documented in a book of his from 1956), but at that time there was no technology around to support local democracy. He often took an active interest in my later work on several government commissions on information technology policies in Sweden.

They go on to plead for a closer integration of theoretical and empirical research in the trade field, in particular, castigating the theorists for their egregious neglect of empirical findings that run counter to the implications of their favored models. They also point out that a new generation of researchers is rapidly rectifying the problem. Heckscher and Ohlin themselves would presumably heartily have endorsed the program called for by Davis and Weinstein. They would also be gratified to note, as Davis and Weinstein point out, that factor endowment differences are widespread in the world, not only between developed and developing countries but even within the OECD itself.

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