The Rise and Fall of the Oslo School

Ib E. Eriksen, Tore Jørgen Hanisch and Arild Sæther
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Ib E. Eriksen: University of Agder, Faculty of Economics and Social Sciences, Kristiansand, Norway
Tore Jørgen Hanisch: University of Agder, Faculty of Economics and Social Sciences, Kristiansand, Norway
Arild Sæther: University of Agder, Faculty of Economics and Social Sciences, Kristiansand, Norway

Nordic Journal of Political Economy, 2007, vol. 33, 1

Abstract: In 1931 Ragnar Frisch became professor at the University of Oslo. By way of his research, a new study programme and new staff he created the ”Oslo School”, characterised by mathematical modelling, econometrics, economic planning and scepticism towards the market economy. Consequently, detailed state economic planning and governance dominated Norwegian economic policy for three decades after WWII. In the 1970s the School’s dominance came to an end when the belief in competitive markets gained a foothold and the economy had poor performance. As a result a decentralized market economy was reintroduced. However, mathematical modelling and econometrics remain in the core of most economic programmes.

JEL-codes: B23 B29 B31 B59 O21 P41 P51 (search for similar items in EconPapers)
Date: 2007
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Citations: View citations in EconPapers (2)

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