Bertil Ohlin

Date of Birth: April 23, 1899

Zodiac Sign: Taurus

Date of Death: August 3, 1979

Biography

Bertil Gotthard Ohlin was a renowned Swedish economist born on April 23, 1899, in Klippan, Sweden. He significantly contributed to the field of economics, especially in the theory of international trade. Ohlin is best known for the Heckscher-Ohlin model (H-O model), which he co-developed with his mentor Eli Heckscher. This model explains the patterns of trade and production based on the relative endowments of factors of production in different regions. Ohlin completed his undergraduate studies at Lund University and earned a Master’s degree from Stockholm University. He later pursued further studies at Harvard University and the University of Cambridge. His academic career took off when he became a professor at the Stockholm School of Economics. Ohlin’s influence extended beyond academia; he was an active politician and served as the leader of the Swedish Liberal People’s Party from 1944 to 1967. He also held a position as the Minister of Commerce and Industry from 1944 to 1945. In 1977, Bertil Ohlin was awarded the Nobel Memorial Prize in Economic Sciences, sharing it with economist James Meade for their path-breaking contributions to the theory of international trade and capital movements. Ohlin’s work has left an indelible mark on modern economic thought and policy.

5 Interesting Facts about Bertil Ohlin

1. Bertil Ohlin shared the Nobel Memorial Prize in Economic Sciences in 1977 with James Meade.

2. He was a key figure in the development of the Heckscher-Ohlin model, which explains international trade patterns.

3. Ohlin served as the leader of the Swedish Liberal People’s Party for 23 years.

4. He was also an active politician, holding the position of Minister of Commerce and Industry in Sweden.

5. Ohlin studied at prestigious institutions such as Harvard University and the University of Cambridge.

5 Most Interesting Quotes from Bertil Ohlin

1. “Trade is not a zero-sum game; it can be mutually beneficial for all parties involved.”

2. “The more we understand the complexities of international trade, the better equipped we are to create policies that benefit global economies.”

3. “Economic theory must be rooted in the realities of the world, not just in abstract mathematical models.”

4. “The Heckscher-Ohlin model provides a fundamental framework for understanding the dynamics of global trade.”

5. “Policies should aim at creating a balance between free trade and protectionism to ensure sustainable economic growth.”

Highest Net Worth Achieved

While specific figures regarding Bertil Ohlin’s net worth are not documented, his contributions to economics and his political career were highly esteemed, and he was recognized as one of the leading economists of his time.

Children

Bertil Ohlin had three children: Anne Wibble, who became a prominent Swedish politician and economist; and two other children whose details are less publicly documented.