Gunnar Myrdal: An Intellectual Biography by William J. Barber (auth.) PDF

By William J. Barber (auth.)

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Sample text

7 million kronor in fiscal 1936. Capital spending in the ‘productive’ Structuring Counter-Cyclical Fiscal Policies in the 1930s 43 category also increased, though much less dramatically. The structure of the Swedish economy – in which the state functioned as an entrepreneur in the railway, electric power, post and telegraph, mining, and forestry sectors – lent itself to governmentally managed guidance on counter-cyclical investment policies. 9 The upshot of this activity was increased deficits in the public accounts which, this time, were deliberate rather than unintended (as was the case with the former government).

A. Schumpeter, History of Economic Analysis (Oxford University Press, 1954), p. 1085. As reported by Jonung, op. , p. 28. Theorizing About Macro-Economic Instability 37 32. A few illustrative examples will suffice. Ohlin set this debate in motion with two articles that appeared in the Economic Journal, 47: ‘Some Notes on the Stockholm Theory of Savings and Investment - I’ (March 1937) 53–69, and ‘Some Notes on the Stockholm Theory of Savings and Investment - II’ (June 1937) 221–40. ’ Exchanges with Patinkin date from the collection edited by Patinkin and J.

I remember that I received an invitation from the International Labor Bureau to publish in their journal a translated version of my appendix to the Social Democratic government’s budget that was presented in January 1933. 31 But what should one make of the broader issue of claims to analytic priorities on the part of champions of the Stockholm School, on the one hand, and the Keynesians, on the other? 33 It would be idle to pretend that this controversy will be resolved by consensus any time soon.

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