Economic doctrines of Knut Wicksell

Although Knut Wicksell's work has received increasing atten tion in economic literature in recent years, thus far no systematic account and evaluation of his scientific contributions as a whole has appeared. This study is intended to fill that gap. It was written with the conviction that there is still much to be learned from the way he formulated and struggled with fundamental economic problems. His major works, all of which have now been translated into English, speak for themselves. Still they do not reveal the background and context of doctrinal history from which they sprang. Neither do they show the further development in several branches of economic theory which Wicksell's ideas stimulated in the minds of his followers in Sweden and, not least, among British and Austrian economists who had no direct contact with him. It is therefore hoped that the present study will prove helpful to students of the history of economic thought, monetary theory, capital theory, and public finance.

This book is an outgrowth of a doctoral dissertation begun at the suggestion of the late Professor Leo Rogin (1893-1947) and completed under the guidance of Professor William J. Fellner in 1950. Since then it has been completely rewritten and revised to incorporate new materials which have appeared in the interim, to achieve more effec tive organization of its contents, and to make changes in the exposi tion which suggested themselves on further reflection.

In writing the present work I have had generous assistance and advice from several persons. The late Professor Emil Sommarin, Lund University, Sweden, supplied me with valuable biographic informa tion concerning Wicksell's life and career as well as with many of his tracts, which had long since disappeared from print. The late Pro fessor Erik Lindahl, University of Uppsala, gave me further help along these lines, and read my dissertation in its final form. He also suggested the main lines of its revision, which I have carried out here.