The Rise and Fall of the Oslo School
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.
References listed on IDEAS
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- Filippo Cesarano, 2006. "Economic history and economic theory," Journal of Economic Methodology, Taylor & Francis Journals, vol. 13(4), pages 447-467.
- McCloskey, Donald N, 1976. "Does the Past Have Useful Economics?," Journal of Economic Literature, American Economic Association, vol. 14(2), pages 434-61, June.
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