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Marshall’s Influence on Swedish Economic Thought


  • Sandelin, Bo

    () (Department of Economics, School of Business, Economics and Law, Göteborg University)


Alfred Marshall was by no means ignored, but his influence on Swedish economic thought at the end of the 19th and beginning of the 20th century was limited. On the general level,science and culture in Sweden were more dependent on the German-language countries. In a small country like Sweden, where there were only two chairs in economics in 1900, and eight in 1940,a few individuals embodied the development of the discipline. Knut Wicksell’s theory of value and capital was mainly influenced by Jevons, Menger, Walras and, especially, Böhm-Bawerk. Gustav Cassel was inspired especially by Walras, but preferred Marshall to Böhm-Bawerk. There are not many references to Marshall in Heckscher's writings, but there may have been an indirect influence. Myrdal was well aware of Marshall's positions, but Marshall does not seem to have been an especially important source of inspiration. Marshall's Principles and Economics of Industry can be found in students' reading lists at Swedish universities during the first decades of the 20th century, often as optional literature.

Suggested Citation

  • Sandelin, Bo, 2006. "Marshall’s Influence on Swedish Economic Thought," Working Papers in Economics 187, University of Gothenburg, Department of Economics.
  • Handle: RePEc:hhs:gunwpe:0187

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    References listed on IDEAS

    1. Mauro Boianovsky & Hans-Michael Trautwein, 2001. "An Early Manuscript by Knut Wicksell on the Bank Rate of Interest," History of Political Economy, Duke University Press, vol. 33(3), pages 485-508, Fall.
    2. Torsten Gårdlund, 1996. "The Life of Knut Wicksell," Books, Edward Elgar Publishing, number 1017.
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    More about this item


    Marshall; Sweden; Wicksell; Cassel; Heckscher; Myrdal;

    JEL classification:

    • B13 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Neoclassical through 1925 (Austrian, Marshallian, Walrasian, Wicksellian)
    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals

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