The article investigates Wicksell's change of mind about the machinery question between 1890 and 1900/1901. Wicksell at first sided with the so-called “compensation theory” that workers are not harmed by the introduction of machinery. In his lecture notes of April 1900, made available here...

The article investigates Wicksell's change of mind about the machinery question between 1890 and 1900/1901. Wicksell at first sided with the so-called “compensation theory” that workers are not harmed by the introduction of machinery. In his lecture notes of April 1900, made available here...

The article investigates Wicksell's change of mind about the machinery question between 1890 and 1900/1901. Wicksell at first sided with the so-called "compensation theory" that workers are not harmed by the introduction of machinery. In his lecture notes of April 1900, made available here for...

Wicksell's formulation of monetary theory as the study of the relation between aggregate supply and aggregate demand – and their respective division into supply of consumption and capital goods on one side, and income spent and saved, on the other – would play a key role in the development...

Pareto based his interpretation of business cycles on a disaggregated general equilibrium system with dynamics determined by frictions (or “inertia”). The present article investigates his interpretation of the motion of the economic aggregate, in the sense of the set of individual consumers...

Wicksell discussed in his 1893 book Value, capital and rent, as part of a critical comment on Launhardt and Jevons, conditions for consistent aggregation. He argued that Jevons’s trading body concept was only valid if identical linear marginal utility functions (with ensuing parallel Engel...

The paper offers a reconstruction of the “conversation” between Irving Fisher and Knut Wicksell on money as shown by references they made to each other's works. The first phase corresponded largely to the period between 1897 and 1911, when they proposed different explanations of the...

The paper brings to light an article by Knut Wicksell published in Swedish in 1908 about the American crisis of 1907. Wicksell explicitly distinguished, apparently for the first time in the literature, three features of a healthy banking system: Solvency, liquidity, and versatility. The paper...

The article investigates Wicksell's change of mind about the machinery question between 1890 and 1900/1901. Wicksell at first sided with the so-called “compensation theory” that workers are not harmed by the introduction of machinery. In his lecture notes of April 1900, made available here...

Knut Wicksell's concept of the natural (or neutral) rate of interest, introduced between the end of the 19th and beginning of the 20th centuries, has played an important role in modern monetary macroeconomics, especially after the development of inflation targeting policy in the 1990s. More...