Page "Stockholm School of Economics" Paragraph 13

Ohlin was also a leading figure within the school of doctrine with the same name, the so-called Stockholm school ; a group of leading Scandinavian economists influenced by Knut Wicksell, most of them active in Stockholm, either at the Stockholm School of Economics or the Stockholm University College.

This school of doctrine was to have a profound influence on post-WWII Swedish economic policy and the development of the modern Scandinavian Welfare state.

Heckscher and Ohlin jointly developed the so called Heckscher-Ohlin theory, the standard international mathematical model of international trade.

Gunnar Myrdal received the Nobel Memorial Prize in Economic Sciences in 1974 ( shared with his ideological nemesis, Austrian economist Friedrich Hayek ); Bertil Ohlin received the Nobel Prize in Economics in 1977 ( shared with British economist James Meade ).

Other prominent members of the Stockholm school were the Stockholm University professor Gustav Cassel, who developed standard economic theory of Purchasing power parity and economist Dag Hammarskjöld, general secretary of the United Nations in New York city, USA.