For these anticipations determine the behaviour of the economic subjects and consequently those changes in the whole price system which during a peri… - Gunnar Myrdal

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For these anticipations determine the behaviour of the economic subjects and consequently those changes in the whole price system which during a period actually occur as a result of the actions of individuals.

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About Gunnar Myrdal

Karl Gunnar Myrdal (6 December 1898 – 17 May 1987) was a Swedish economist, sociologist, and politician, best known in the United States for his study of race relations, which culminated in his book . In 1974, he received the Nobel Memorial Prize in Economic Sciences with Friedrich Hayek for "their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the interdependence of economic, social and institutional phenomena." (Nobel Memorial Prize, 1974)

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Alternative Names: Karl Gunnar Myrdal
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Some of these quantities refer directly to a point of time. That is true of "capital value" as also of such quantities as demand and supply prices. Other terms – as e.g. "income", "revenue", "return", "expenses", "savings", "investments" – imply, however, a time period for which they are reckoned. But in order to be unambiguous they must also refer to a point of time at which they are calculated.

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