At the beginning of the depression, Ohlin was quite optimistic in his outlook. But as the downturn in the world economy deepened, his optimism waned. He dealt with proposals for bringing the Swedish economy out of the depression, and reported positively on the policy views of Keynes. At an early stage, he recommended expansionary fiscal and monetary policies including public works. This approach permeated the contributions of the young generation of Swedish economists arising in the 1930s, eventually forming the Stockholm School of Economics. He was critical of passive Manchester liberalism, ‘folded-arms evangelism’ as well of socialism while promoting his own brand of ‘active social liberalism’.
We have received generous support from the Tore Browaldh Foundation for compiling the newspaper articles by Ohlin and for translating this sample of articles. The late Geoffrey French skillfully translated the articles from Swedish into English.
Carlson, B. and Jonung, L. (2015), "Ohlin on the Great Depression: Ten Newspaper Articles 1929–1935", A Research Annual (Research in the History of Economic Thought and Methodology, Vol. 32), Emerald Group Publishing Limited, Bingley, pp. 299-348. https://doi.org/10.1108/S0743-415420140000032008
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