The Swedish School

Guglielmo Chiodi
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Guglielmo Chiodi: University of Perugia

Chapter 8 in Wicksell’s Monetary Theory, 1991, pp 104-121 from Palgrave Macmillan

Abstract: Abstract Lindahl, Myrdal and Ohlin are usually known in the literature as the most outstanding economists of the so-called Swedish School of the first generation after Wicksell’s death. If, however, by the denomination of Swedish School one means a strand of thought almost homogeneous and compact, having in common some cultural roots, it is crucially important to note the reference assumed. Compared with Keynes, for example, there is no doubt that the above-mentioned economists do constitute a group or a ‘school’, often viewed as alternative and generally in opposition to him. But compared with Wicksell, it does not seem legitimate, strangely and paradoxically enough, to treat the Swedish School in terms referred to above. Lindahl and Ohlin, in fact, far beyond their own formal declarations have substantially given a content and a development to their contributions which seem quite different from the Wicksellian ‘base’ from which they start. Moreover their respective works are profoundly different from each other, not only in approach but also in their interpretation of Wicksell. In what follows, then, an attempt will be made to give evidence to such statements.

Keywords: Monetary Policy; Natural Rate; Loan Rate; Real Capital; Bank Rate (search for similar items in EconPapers)
Date: 1991
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-12155-7_8

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DOI: 10.1007/978-1-349-12155-7_8

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