Abstract
Knut Wicksell was long known as Scandinavia’s Alfred Marshall, the leading economist of that region, whose microeconomics married Böm-Bawerk’s time-phased interest theory with Walras’s mathematical general equilibrium. His macroeconomics was thought to foreshadow Keynes’s 1936 General Theory, even though it emphasized that the discrepancy between investment and saving is the cause merely of an inflationary trend in the general price level.
This chapter was originally published in The New Palgrave: A Dictionary of Economics, 1st edition, 1987. Edited by John Eatwell, Murray Milgate and Peter Newman
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Samuelson, P.A. (1987). Wicksell and Neoclassical Economics. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95121-5_1421-1
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DOI: https://doi.org/10.1057/978-1-349-95121-5_1421-1
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