Selected Papers on Economic Theory

Selected Papers on Economic Theory

Selected Papers on Economic Theory

Selected Papers on Economic Theory

Excerpt

KNUT WICKSELL'S most important works in economic theory--the earlier German publications Value, Capital and Rent (1893) and Interest and Prices (1898) and the later Lectures on Political Economy, published in Swedish (1901-4)--have been translated into English and thus make it possible for English readers to study his main contributions. The object of the present volume is to supplement these works with a selection of various articles, mostly published in the Swedish Ekonomisk Tidskrift during the first quarter of this century, and hitherto not available to the English-speaking public. In this way the reader may obtain a fuller picture of Wicksell as an economist than is possible merely by reading his major works.

The collection includes only articles that have not previously been available in English. I have also excluded articles which deal with problems of more domestic or temporary importance, and which therefore cannot be fully appreciated without a fairly detailed knowledge of their background. This selection thus contains articles of a more general interest that can be read with profit even now, half a century after their first publication.

The papers have been divided into four groups. The first contains two early lectures, one explaining Wicksell's views on Economics in general, the other giving a summary of his monetary theory. The second group consists of three papers containing the kernel of Wicksell's contributions to the theory of production and distribution. Wicksell's theories in this field are, of course, more fully developed in the other works mentioned above, especially in his Lectures, but the inclusion of these articles here may nevertheless be justified since they give a more readable exposition of his views, and also contain some interesting comments not included in the Lectures. Some articles in which Wicksell expresses his opinions on the works of other well-known economists of his time have been put together as a third group. The first two on Pareto and the last one on Bowley seem to be of value from the scientific point of view as they also contain original contributions to economic theory by Wicksell himself. The others, dealing with the Austrian economists Böhm-Bawerk and Carl Menger, are of interest as throwing light both . . .

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