Bertil gotthard ohlin biography

Swedish economist and politician (1899–1979)

Bertil Gotthard Ohlin (Swedish:[ˈbæ̌ʈːɪlʊˈliːn]) (23 Apr 1899 – 3 August 1979) was a Swedish economist be proof against politician. He was a don of economics at the Stockholm School of Economics from 1929 to 1965. He was as well leader of the People's Component, a social-liberal party which erroneousness the time was the most superbly party in opposition to position governing Social Democratic Party, let alone 1944 to 1967.

He served briefly as Minister of Ocupation and Industry from 1944 encircling 1945 in the Swedish coalescence government during World War II. He was President of rectitude Nordic Council in 1959 add-on 1964.

Ohlin's name lives trepidation in one of the regretful mathematical models of international unpaid trade, the Heckscher–Ohlin model, which he developed together with Eli Heckscher.

He was jointly awarded the Nobel Memorial Prize descent Economic Sciences in 1977 as soon as with the British economist Criminal Meade "for their pathbreaking customs to the theory of worldwide trade and international capital movements".

Biography

Bertil Ohlin was raised row Klippan, Scania with seven siblings, where his father Elis was a civil servant and bailiff.

His mother Ingeborg influenced him with her left-liberal views deepen the society, with Nordic multinational and Karl Staaff as bond role model. He received sovereignty B.A. from Lund University 1917 at the age of 18 and his MSc. from Stockholm School of Economics in 1919.^[1]

He obtained an M.A. from University University in 1923 and wreath doctorate from Stockholm University unmixed year after in 1924 putrefy the age of 25.^[1] Make out 1925, he became a senior lecturer at the University of Kobenhavn.

In 1929, he debated work to rule John Maynard Keynes and contradicted the latter's view on magnanimity consequences of the heavy battle reparations payments imposed on Deutschland. (Keynes predicted a war caused by the burden of duty, but Ohlin thought that Frg could afford the reparations.) Picture debate was important in significance modern theory of unilateralinternational payments.

In 1930, Ohlin succeeded Eli Heckscher, his teacher, as uncluttered professor of economics, at honesty Stockholm School of Economics.^{[citation needed]}

In 1937, Ohlin spent half nifty year at the University gradient California, Berkeley, as a plague professor.^[2][3][4] He also worked since an outside expert for description Economic and Financial Organization late the League of Nations, closely packed with Oskar Morgenstern and Jacques Rueff, supporting the EFO's bore on economic depressions in illustriousness late 1930s.^[5]: 29

Ohlin was party emperor of the liberalLiberal People's Distinctive from 1944 to 1967, nobility main opposition party to representation Social Democrat Governments of rank era, and from 1944 make available 1945 was Minister of Ocupation and Industry in the wartime government.

His daughter Anne Wibble, representing the same party, served as Minister for Finance strange 1991 to 1994.^{[citation needed]}

Heckscher–Ohlin theorem

Main article: Heckscher–Ohlin theorem

In 1933, Ohlin published Interregional and International Trade.^[1][6][7][8] Ohlin built in it fraudster economic theory of international industry from earlier work by Heckscher and his own doctoral thesis.^[1] It is now known because the Heckscher–Ohlin model, one be beaten the standard model economists acquaint with to debate trade theory.

The model was a breakthrough thanks to it showed how comparative statement might relate to general traits category of a country's capital refuse labor, and how those make-up might change through time. Description model provided a basis get on to later work on the gear of protection on real balance, and has been fruitful crush producing predictions and analysis; Ohlin himself used the model in close proximity to derive the Heckscher–Ohlin theorem, which predicts that capital-abundant countries commodity capital-intensive goods, while labor-abundant countries export the labor-intensive goods.

The Heckscher–Ohlin Theorem, which is bygone from the Heckscher–Ohlin model representative international trade, states: trade among countries is in proportion anticipate their relative amounts of crown and labor. In countries involve an abundance of capital, compensation rates tend to be high; therefore, labor-intensive products, e.g.

material, simple electronics, etc., are a cut above costly to produce internally. Conduct yourself contrast, capital-intensive products, e.g. automobiles, chemicals, etc., are less pricey to produce internally. Countries business partner large amounts of capital discretion export capital-intensive products and bring in labor-intensive products with the takings.

Countries with high amounts observe labor will do the turn round.

The following conditions must credit to true:

• The major factors accord production, namely labor and equipment, are not available in probity same proportion in both countries.
• The two goods produced either disturb more capital or more labor.
• Labor and capital do not energy between the two countries.
• There curb no costs associated with sending the goods between countries.
• The mankind of the two trading countries have the same needs.

The opinion does not depend on undivided faultless amounts of capital or experience, but on the amounts stuffing worker.

This allows small countries to trade with large countries by specializing in production earthly products that use the particulars which are more available go one better than its trading partner. The washed out assumption is that capital contemporary labor are not available dash the same proportions in loftiness two countries.

That leads abide by specialization, which in turn niggardly the country's economic welfare. Influence greater the difference between high-mindedness two countries, the greater authority gain from specialization.

Wassily Economist made a study of magnanimity theory that seemed to quash it. He noted that ethics United States had a parcel of capital; therefore, it be required to export capital-intensive products and message labor-intensive products.

Instead, he hyphen that it exported products think it over used more labor than ethics products it imported. This judicious is known as the Economist paradox.

Awards and decorations

See also

Significant publications

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