Bertil ohlin biography samples

Bertil Ohlin (April 23, 1899 – August 3, 1979), was a Swedish economist and winner of the 1977 Nobel Memorial Prize in Economics.

He began as a scholar, then wandered back and forth for a time across the boundary between the academic and political worlds, eventually becoming a full-time politician.

Bertil ohlin biography samples

His work on macroeconomics, with its use of such concepts as the propensity to consume, the liquidity preference and the multiplier, made him an important precursor of Keynes.

Ohlin's name will, however, always remain associated with the standard mathematical model of international free trade, the Hecksher-Ohlin model.

This theory, based on work with his colleague and former professor Eli Heckscher, states that countries naturally produce and export goods that make the most use of the factor of production in greatest abundance within the country.

As such, it predicts a natural equilibration of the economic exchange between c