I started [in 1921] to write on the foundations of an approach to international trade theory that was to some extent new and for which I received the… - 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.

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.

To me it is a riddle that , who for most of his life was a fanatical representative of extreme opinions in the social debate, could present a completely different personality in the scholarly context. During the period when I knew him he was the diffident seeker after scientific truth.