Gustav Cassel

Also found in: Wikipedia.

Cassel, Gustav


Born Oct. 20, 1866; died Jan. 15, 1945. Swedish economist, belonging to the mathematical school of bourgeois political economy.

Cassel received a mathematics degree at the University of Uppsala in 1895 and was a professor of political economy and finance at the University of Stockholm from 1904 to 1933. Cas-sel’s views were eclectic. In opposition to the labor theory of value, Cassel proposed a distorted and oversimplified conception of price based on the principle of scarcity of utilities, interpreting money circulation, wages, and economic crises in the light of this conception.


Theoretische Sozialökonomie. Leipzig, 1918.
The Theory of Social Economy. London, 1932.
On Quantitative Thinking in Economics. Oxford, 1935.
In Russian translation:
Mirovaia denezhnaia problema. Moscow, 1922.
Osnovnye idei teoreticheskoi ekonomii. Moscow, 1929.
References in periodicals archive ?
The liquidationist policy was criticized at the time by a small but notable group of economists, foremost among them Irving Fisher, John Maynard Keynes, and the Swede Gustav Cassel.
In Sweden, Gustav Cassel, probably the most famous political economist in the world in the years immediately after World War I, was the most outspoken economist in this respect.
Gustav Cassel was not always a vigorous proponent of private property rights.
If economists have only recently focused on property rights, and in the past just assumed the existence of secure property rights, Gustav Cassel must be the exception that proves the rule.
1994) The State as a Monster: Gustav Cassel and Eli Heckscher on the Role and Growth of the State.
A more venerable idea, attributable to the Swedish economist Gustav Cassel writing in 1920, is that of purchasing power parity.
One person who could have resolved the debate was WICKSELL's countryman and contemporary, the Swedish economist GUSTAV CASSEL.
For a straightforward, consistent account of the quantity theory version of the cumulative process and feedback policy rule one must look not to Wicksell but rather to the work of his compatriot and sometime rival Gustav Cassel.
It remained for Gustav Cassel, writing 30 years after the publication of Wicksell's Interest and Prices, and fully cognizant of what Wicksell had sought to accomplish, to express matters clearly and to articulate the active money view.