Johan Gustaf Knut Wicksell

Picture of Johan Gustaf Knut Wicksell

Date of Birth: 12/20/1851

Age: 74

Place of birth: Stockholm

Citizenship: Sweden


Knut Wicksell was born December 20, 1851 in Stockholm (Stockholm). His father was quite a successful entrepreneur and broker of real estate. Knut lost both parents too early - his mother died when he was only six years old and his father died when his son was fifteen. Significant state father helped orphaned Wicksell, hoping to study mathematics and physics to become a student at Uppsala University (University of Uppsala) in 1869. Two years later he received his first academic degree, but continued to study in graduate school until 1885, when he defended his doctoral thesis in mathematics. In 1887, Wicksell received a scholarship to the continent, where he attended lectures economist Carl Menger (Carl Menger) in Vienna (Vienna). In subsequent years, his interest switched to the social sciences, and in particular the economy.

Lecturing at the University of Uppsala, Wicksell has attracted attention with its point of view on labor issues. In one of his lectures, he condemned drunkenness and prostitution as actions that contribute to the alienation, degradation and poverty. Although it is sometimes defined as the socialist views, the decision Wicksell its stated objectives was decidedly Malthusian and lay in the promotion of birth control - the theory he would defend to the end of life. And although he drew his fiery ideas of some public attention, his first work in the field of economics, `The cost of capital and renta` (Value, Capital and Rent), published in 1892, has passed largely unnoticed.

In 1896 he published `Studies in the theory of Public Finance` (` Research in the field of social theory finansov`) using marginalist ideas to progressive taxation, public goods, and other aspects of public policy. This book caused a much greater interest.

In 1887 he appeared in Wicksell`s common-law wife, Anna Bugge (Anna Bugge), a Norwegian feminist, although it was difficult to support a family on income from occasional assignments and publications. The economy in Sweden (Sweden) at the time taught in the framework of the law school, iViksell could not get a chair as a professor until he received a law degree. He returned to Uppsala University and for two years was a four-year course of legal education, and subsequently, in 1899, became an associate professor at the university. The following year he was appointed a full professor at Lund University (Lund University), where he wrote his most important works.

After reading in 1908 lecture in which the professor expressed his satirical attitude toward the concept of the Immaculate Conception, Wicksell was found guilty of blasphemy, and for two months landed in jail. Eight years later, in 1916, Wicksell, resigned from his post at Lund University and took a position at Stockholm advising the government on financial and banking issues. In Stockholm, Wicksell maintained ties with other future great economists of the so-called Stockholm School that included Bertil Ulin (Bertil Ohlin) and Gunnar Myrdal (Gunnar Myrdal). He was also a teacher of Dag Hammarskjold (Dag Hammarskj & # 246; ld), the future of the United Nations Secretary-General (United Nations).

Knut Wicksell died on May 3, 1926 in Stoksunde (Stocksund), a suburb of Stockholm, working on his latest essay on the theory of interest. His ideas concerning the state policy in the field of economics, was a well-received and put into practice by the Swedish government, including the rule of targeting the price level in the 30s, and his vision of a limited welfare state `blagosostoyaniya`. Wicksell`s contribution to the economy is described by some economists, including economic historian Mark Blaug (Mark Blaug), as a fundamental to modern macroeconomics.

In his works, Wicksell also expressed views on many social phenomena and often criticized the status quo. He questioned the institutions rank, marriage, the church, the monarchy and the army. Although Wicksell fought for a more equal distribution of wealth and income, he considered himself primarily a mentor society and hoped to have an impact not only in the field of monetary economics.