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International trade theory has, in my opinion, given far too much attention to the effects of certain variations, for example, in duties, on the nati… - Bertil Ohlin
" "International trade theory has, in my opinion, given far too much attention to the effects of certain variations, for example, in duties, on the national incomes, and too little to the effects on individual incomes. In many cases, changes in the sums count for very little, while changes in the individual incomes are distinctly relevant.
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About Bertil Ohlin
Bertil Gotthard Ohlin (23 April 1899 – 3 August 1979) was a Swedish economist and politician, who together with developed one of the standard mathematical model of international free trade, the . He was jointly awarded the Nobel Memorial Prize in Economic Sciences in 1977 together with the British economist James Meade "for their pathbreaking contribution to the theory of international trade and international capital movements".
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Bertil Gotthard Ohlin
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Additional quotes by Bertil Ohlin
The origin of this research was an attempt to extend Cassel’s system of equations of price determination in one market to that of several trading countries. Although the point of departure is totally different, the results of that attempt (presented in chapter III) exhibit important similarities to Heckscher’s treatment in ‘‘The Effect of Foreign Trade on the Distribution of Income,’’ published one year earlier in Ekonomisk Tidskrift, 1920. There is no doubt that the author was unconsciously influenced by Heckscher’s paper both at this and at later stages of the work. The influence of this pathbreaking paper, both conscious and unconscious, has surely been particularly decisive in the development of the material in chapters I–III.
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The economic history of the last half century offers two cases of serious international depressions in countries with an essential orientation towards a market economy: In the first half of the 1930ies and in the middle of the 1970ies. With some simplification one can say that in the former case recovery started after a few years without the aid of much conscious expansionist policy.
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