Knut Wicksell

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The following article is from The Great Soviet Encyclopedia (1979). It might be outdated or ideologically biased.

Wicksell, Knut


Born Dec. 20, 1851, in Stockholm, died there May 3, 1926. Swedish economist.

After graduating from the University of Uppsala in 1884, Wicksell taught political economy at the University of Lund from 1900 to 1916. In his studies and research on the theory of value, he attempted to unite the theory of the Austrian school on marginal utility with the mathematical school’s theory of prices. Wicksell is also notable as the author of works on finance, monetary circulation, and credit. His re-searches on the influence of bank credit and the discount rate on the average level of commercial prices and the fluctuation caused by the interplay of market forces were the basis of the so-called credit theory of business conditions. Wicksell also spoke out as an ardent neo-Malthusian.


Über Wen, Kapital, und Rente … . Jena, 1893.
Vorlesungen Uber Nationalokonomie auf Grundlage des Marginal-prinzipes, vols. 1-2. Jena, 1913-22.
Finanztheoretische Untersuchungen nebst Darstellung und Kritik. Jena, 1896.
Geldzins und Guterpreise. Jena, 1898.
The Great Soviet Encyclopedia, 3rd Edition (1970-1979). © 2010 The Gale Group, Inc. All rights reserved.
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'Bohm-Bawerk's Theory of Capital', in K. Wicksell, Selected Papers on Economic Theory, edited with an introduction by Eric Lindahl.
In his 1989 Scandinavian Journal of Economics article "Ricardo Was Right!" Samuelson writes that "in the famous suit K. Wicksell vs.