Ib E. Eriksen (University of Agder, Faculty of Economics and Social Sciences, Kristiansand, Norway) Tore Jørgen Hanisch (University of Agder, Faculty of Economics and Social Sciences, Kristiansand, Norway) Arild Sæther (University of Agder, Faculty of Economics and Social Sciences, Kristiansand, Norway)
Abstract
In 1931 Ragnar Frisch became professor at the University of Oslo. By way of his research, a new study programme and new staff he created the ”Oslo School”, characterised by mathematical modelling, econometrics, economic planning and scepticism towards the market economy. Consequently, detailed state economic planning and governance dominated Norwegian economic policy for three decades after WWII. In the 1970s the School’s dominance came to an end when the belief in competitive markets gained a foothold and the economy had poor performance. As a result a decentralized market economy was reintroduced. However, mathematical modelling and econometrics remain in the core of most economic programmes.
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Find related papers by JEL classification: B23 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Quantitative and Mathematical B29 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Other B31 - Schools of Economic Thought and Methodology - - History of Thought: Individuals - - - Individuals B59 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Other O21 - Economic Development, Technological Change, and Growth - - Development Planning and Policy - - - Planning Models; Planning Policy P41 - Economic Systems - - Other Economic Systems - - - Planning, Coordination, and Reform P51 - Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems
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