“The origin of this research was an attempt to extend Cassel’s system of equations of price determination in one market to that of several trading countries. Although the point of departure is totally different, the results of that attempt (presented in chapter III) exhibit important similarities to Heckscher’s treatment in ‘‘The Effect of Foreign Trade on the Distribution of Income,’’ published one year earlier in Ekonomisk Tidskrift, 1920. There is no doubt that the author was unconsciously inﬂuenced by Heckscher’s paper both at this and at later stages of the work. The inﬂuence of this pathbreaking paper, both conscious and unconscious, has surely been particularly decisive in the development of the material in chapters I–III.”

— Bertil Ohlin

Ohlin (1924), quoted (and translated) in: Eli Filip Heckscher, ‎Bertil Gotthard Ohlin, ‎Henry Flam Heckscher-Ohlin trade theory, (1991), p. 76.
1920s

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Bertil Ohlin 11

Swedish economist and politician 1899–1979

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“No authors propounded the ideas of economic liberalism in Sweden during the 1920s as vigorously as did Cassel and Heckscher, and in addition they certainly helped in no mean degree to give actual policy a liberal stamp during that decade.”

Bertil Ohlin (1899–1979) Swedish economist and politician

Bertil Ohlin (1977, p. 15), as cited in: Benny Carlson. The state as a monster: Gustav Cassel and Eli Heckscher on the role and growth of the state. University Press of America, 1994. p. 3.
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“One of the common means by which one nation exploits another and one that is relevant to Africa’s external relations is exploitation through trade. When the terms of trade are set by one country in a manner entirely advantageous to itself, then the trade is usually detrimental to the trading partner. To be specific, one can take the export of agricultural produce from Africa and the import of manufactured goods into Africa from Europe, North America, and Japan. The big nations establish the price of the agricultural products and subject these prices to frequent reductions. At the same time the price of manufactured goods is also set by them, along with the freight rates necessary for trade in the ships of those nations. The minerals of Africa also fall into the same category as agricultural produce as far as pricing is concerned. The whole import-export relationship between Africa and its trading partners is one of unequal exchange and of exploitation.”

Walter Rodney book How Europe Underdeveloped Africa

Source: How Europe Underdeveloped Africa (1972), p. 38.

“A country of our size, with its focus on exports and thus reliance on foreign trade, must be aware that … military deployments are necessary in an emergency to protect our interests -- for example when it comes to trade routes, for example when it comes to preventing regional instabilities that could negatively influence our trade, jobs and incomes.”

Horst Köhler (1943) German politician (CDU); president of Germany, 2004-2010

http://www.spiegel.de/international/germany/controversy-over-afghanistan-remarks-german-president-horst-koehler-resigns-a-697785.html

“No extension of foreign trade will immediately increase the amount of value in a country, although it will very powerfully contribute to increase the mass of commodities and therefore the sum of enjoyments.”

David Ricardo (1772–1823) British political economist, broker and politician

Source: The Principles of Political Economy and Taxation (1821) (Third Edition), Chapter VII, On Foreign Trade, p. 77

“There is a problem that is specific to financial markets. In most fields of research, when someone makes an important finding, they publish it. In the case of prices, they set up a firm and sell advice about their discovery. If they can make money from it, they will. So the research into market dynamics is a closed field.”

Benoît Mandelbrot (1924–2010) Polish-born, French and American mathematician

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“Economists’ instincts are that uncertainty about current prices, future prices, and the real meaning of nominal trade-offs between the present and the future; distortions introduced by the failure of government finance to be inflation-neutral; windfall redistributions; and the focusing of attention not on preferences, factors of production, and technologies but on predicting the future evolution of nominal magnitudes must degrade the functioning of the price system and reduce the effectiveness of the market economy at providing consumer utility. The cumulative jump in the price level as a result of the inflation of the 1970s may have been very expensive to the United States in terms of the associated reduction in human welfare.”

J. Bradford DeLong (1960) American economist

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“When I talk about trade and industry, it is not because I think trade and industry are more important than social reform. It is purely because I know that you must make wealth in the country before you can distribute it.”

David Lloyd George (1863–1945) Former Prime Minister of the United Kingdom

Speech in Manchester (21 April 1908), quoted in Better Times: Speeches by the Right Hon. D. Lloyd George, M.P., Chancellor of the Exchequer (London: Hodder & Stoughton, 1910), p. 46.
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“Any attempt by political forces in the Third World to resolve the problems of their neo-colonial integration into the world trading system on the basis of national sovereignty is as naive as would be the attempt of black South Africans if they opted for a 'bantustan' solution to their particular politico-economic dilemma.”

Nick Land (1962) British philosopher

"Kant, Capital, and the Prohibition of Incest" (1988–9), in Fanged Noumena, p. 57

“The main sources of tension in today's world economy could be grouped under the following categories:
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(iii) the passing of colonialism
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Jan Tinbergen (1903–1994) Dutch economist

Source: Shaping the world economy, 1962, p. 91

“I have stressed inequalities in wealth and incomes because they reveal how far this country falls short not only of an ideal but of an actual condition of equality that was taken for granted by democrats like Jefferson and Madison in the early years of the Republic. But there is another important reason for particularly stressing incomes. When we attempt to compensate for gross inequalities in incomes by means other than providing income itself, the result is likely to be a patchwork of irritating regulations enforced by bureaucratic agencies.”

Robert A. Dahl (1915–2014) American political scientist

After the Revolution? (1970; 1990), Ch. 4 : From Principles to Problems

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Bertil Ohlin 11

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