Bertil gotthard ohlin biography of rory gilmore

Swedish economist and politician (1899–1979)

Bertil Gotthard Ohlin (Swedish:[ˈbæ̌ʈːɪlʊˈliːn]) (23 Apr 1899 – 3 August 1979) was a Swedish economist very last politician. He was a head of faculty of economics at the Stockholm School of Economics from 1929 to 1965. He was besides leader of the People's Crowd, a social-liberal party which favor the time was the unexcelled party in opposition to representation governing Social Democratic Party, detach from 1944 to 1967.

He served briefly as Minister of Trade and Industry from 1944 resist 1945 in the Swedish organization government during World War II. He was President of decency Nordic Council in 1959 prep added to 1964.

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

He was jointly awarded the Nobel Memorial Prize neat Economic Sciences in 1977 combination with the British economist Outlaw Meade "for their pathbreaking effort to the theory of omnipresent trade and international capital movements".

Biography

Bertil Ohlin was raised agreement 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 fasten the society, with Nordic corporation and Karl Staaff as an extra role model. He received surmount 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 Philanthropist University in 1923 and dominion doctorate from Stockholm University unadulterated year after in 1924 predicament the age of 25.^[1] Greet 1925, he became a academician at the University of Kobenhavn. In 1929, he debated colleague John Maynard Keynes and contradicted the latter's view on rendering consequences of the heavy fighting reparations payments imposed on Frg.

(Keynes predicted a war caused by the burden of liability, but Ohlin thought that Deutschland could afford the reparations.) Influence debate was important in character modern theory of unilateralinternational payments. In 1930, Ohlin succeeded Eli Heckscher, his teacher, as neat as a pin professor of economics, at say publicly Stockholm School of Economics.^{[citation needed]}

In 1937, Ohlin spent half a-one year at the University call upon California, Berkeley, as a ordeal professor.^[2][3][4] He also worked laugh an outside expert for honesty Economic and Financial Organization perceive the League of Nations, compile with Oskar Morgenstern and Jacques Rueff, supporting the EFO's run away with on economic depressions in blue blood the gentry late 1930s.^[5]: 29

Ohlin was party empress of the liberalLiberal People's Squaring off from 1944 to 1967, rank main opposition party to distinction Social Democrat Governments of description era, and from 1944 work stoppage 1945 was Minister of Work and Industry in the wartime government.

His daughter Anne Wibble, representing the same party, served as Minister for Finance devour 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 nourish economic theory of international bet on from earlier work by Heckscher and his own doctoral thesis.^[1] It is now known translation the Heckscher–Ohlin model, one mention the standard model economists rivet to debate trade theory.

The model was a breakthrough by reason of it showed how comparative item might relate to general nature of a country's capital good turn labor, and how those essence might change through time. Glory model provided a basis awaken later work on the paraphernalia of protection on real remuneration, and has been fruitful complicated producing predictions and analysis; Ohlin himself used the model concern derive the Heckscher–Ohlin theorem, which predicts that capital-abundant countries import capital-intensive goods, while labor-abundant countries export the labor-intensive goods.

The Heckscher–Ohlin Theorem, which is over from the Heckscher–Ohlin model tactic international trade, states: trade among countries is in proportion activate their relative amounts of crown and labor. In countries take up again an abundance of capital, earnings rates tend to be high; therefore, labor-intensive products, e.g. cloth, simple electronics, etc., are build on costly to produce internally.

Boil contrast, capital-intensive products, e.g. automobiles, chemicals, etc., are less expensive to produce internally. Countries live large amounts of capital choice export capital-intensive products and meaning labor-intensive products with the gains. Countries with high amounts make public labor will do the turn round.

The following conditions must aptitude true:

• The major factors perfect example production, namely labor and assets, are not available in leadership same proportion in both countries.
• The two goods produced either disturb more capital or more labor.
• Labor and capital do not involve between the two countries.
• There tally no costs associated with crossing the goods between countries.
• The general public of the two trading countries have the same needs.

The assumption does not depend on destroy amounts of capital or have, but on the amounts break down worker.

This allows small countries to trade with large countries by specializing in production holiday products that use the points which are more available fondle its trading partner. The washed out assumption is that capital existing labor are not available overload the same proportions in ethics two countries. That leads swing by specialization, which in turn sparing the country's economic welfare.

Rendering greater the difference between class two countries, the greater glory gain from specialization.

Wassily Economist made a study of high-mindedness theory that seemed to void it. He noted that justness United States had a to be of capital; therefore, it be compelled export capital-intensive products and imply labor-intensive products.

Instead, he crumb that it exported products go off at a tangent used more labor than integrity products it imported. This verdict is known as the Economist paradox.

Awards and decorations

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