Unlike Knut Wicksell, Eli Heckscher did not believe the time had arrived for “managed money” to replace the gold standard after World War I. The war had shown that only a gold standard could bind the central bank to a time-consistent policy with reasonable price stability. Heckscher likened...

Asea Brown Boveri, Mannheim, is considering the purchase of an East Berlin maufacturer of turbines from the Treuhandanstalt. It is an opportunity to start in East Germany and to work for markets in Eastern Europe. Low productivity, high pollution, potential inablity of Eastern customers to buy,...

The ‘Swedish Model’ of the welfare state was born from a confluence of geographic, cultural, political, and economic factors in the immediate post-war period. Its intellectual history, however, lay in a much longer tradition that originated with the economist Knut Wicksell (1851 – 1926). A...