We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.
We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.
Published online by Cambridge University Press: 05 July 2013
“Tis a pitiful tale,” said the Bellman, whose face
Had grown longer at every word:
“But now that you've stated the whole of your case,
More debate would be simply absurd.”
Lewis Carroll, The Hunting of the SnarkIn a 1972 volume of economic essays, Gunnar Myrdal describes the Keynesian Revolution as “mainly an Anglo-American occurrence. In Sweden, where we grew up in the tradition of Knut Wicksell, Keynes' works were read as interesting and important contributions along a familiar line of thought, but not in any sense as a revolutionary break-through” (Myrdal, 1972, pp. 4–5). This description applies with particular force to Bertil Ohlin, as indicated by the concluding paragraph of his 1937 “Notes on the Stockholm Theory of Savings and Investment”:
In his attempt to bring about a coordination of economic theory Keynes does not – at least from the Stockholm horizon – appear to have been radical or revolutionary enough. The equilibrium method instead of process analysis in which not more of the equilibrium idea is left than consideration of more or less stable positions, the insufficient distinction between “realisations” and “expectations,” the retaining of physical marginal productivity, the disutility analysis of labour supply, in a way also the aggregate supply function, are all evidence of an exaggerated conservatism in method which has hampered his work.
To save this book to your Kindle, first ensure [email protected] is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.
Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.
Find out more about the Kindle Personal Document Service.
To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.
To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.
