Gunnar Myrdal (1898-1987): A Memorial Tribute

Nicholas Balabkins

Eastern Economic Journal, 1988, vol. 14, issue 1, 99-106

Abstract: Gunnar Myrdal won the 1974 Nobel Prize for his work in the theory of money and economic fluctuations. At the age of 30, Myrdal had contributed three significant concepts to the economist's tool box. The first was his separation of ex ante and ex post concepts in macroeconomic theory. The second was the postulate of the explicit value premise. The third was the rejection of the practice of what he called the "illegitimate isolation" of economic variables from the surrounding social phenomena.

Date: 1988
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