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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 peri… - Gunnar Myrdal
" "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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Karl Gunnar Myrdal
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Additional quotes by Gunnar Myrdal
There is in fact no contradiction at all between the statement of an exact bookkeeping balance ex post and the obvious inference that in a situation when saving is increasing without a corresponding increase of investment, or perhaps with an adverse movement in investment, there must be a tendency ex ante to a disparity.
An important distinction exists between prospective and retrospective methods of calculating economic quantities such as incomes, savings, and investments; and... a corresponding distinction of great theoretical importance must be drawn between two alternative methods of defining these quantities. Quantities defined in terms of measurements made at the end of the period in question are referred to as ex post; quantities defined in terms of action planned at the beginning of the period in question are referred to as .
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