Knut Wicksell

Knut Wicksell, Swedish economist, was one of the founders of modern macroeconomics. His work focused on real and nominal interest rates, the marginal productivity of capital, and determinants of the price level. He elaborated on ideas from economists as broad-based as Jevons, Böhm-Bawerk, and Clark, and influenced economists from Irving Fisher to John Maynard Keynes to James Buchanan. [The image comes from “The Warren J. Samuels Portrait Collection at Duke University.”]

Publications

Interest and Prices
Knut Wicksell
It was this work by Swedish economist Wicksell that drew Mises’s attention to the effects of interest rate manipulation on the capital structure. This was the first to present the idea of the natural rate of interest, which Wicksell argued can be
Value, Capital, and Rent
Knut Wicksell
Knut Wicksell was an important thinker of the second-generation marginalist school, and here is his detailed commentary on and elaboration of the capital theory of Eugen von Böhm-Bawerk. It was first published in 1893, but did not appear in English
Lectures on Political Economy, Volume II: Money
Knut Wicksell
Knut Wicksell was a Swedish economist who had an enormous influence on Austrian economics and Ludwig von Mises. This might be his most compelling book: lectures delivered over the course of an entire career, covering both general and specific
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