Gunnar Myrdal

Date of Birth: December 6, 1898

Zodiac Sign: Sagittarius

Date of Death: May 17, 1987

Biography

Gunnar Myrdal was a renowned Swedish economist and sociologist, best known for his critical contributions to the fields of institutional economics and social policy. Born on December 6, 1898, in Gustafs, Sweden, Myrdal’s intellectual journey began with a law degree from Stockholm University in 1923, followed by a doctorate in economics in 1927. Myrdal’s early work focused on the dynamic interplay between economic theory and real-world policy, which led him to become an influential figure in the Stockholm School of Economics. His seminal book, “The Political Element in the Development of Economic Theory” (1930), challenged the notion of value-free economics and argued for the inclusion of political and social elements in economic analysis. In the United States, Myrdal gained significant recognition for his book “An American Dilemma: The Negro Problem and Modern Democracy” (1944), a groundbreaking study on race relations that influenced the American Civil Rights Movement. This work earned him the prestigious Spingarn Medal from the NAACP in 1946. Myrdal’s contributions to economics were honored with the Nobel Memorial Prize in Economic Sciences in 1974, which he shared with Friedrich Hayek. Myrdal was also a prominent politician and served as the Executive Secretary of the United Nations Economic Commission for Europe from 1947 to 1957.

5 Interesting Facts about Gunnar Myrdal

1. Gunnar Myrdal co-authored the book “Crisis in the Population Question” (1934) with his wife, Alva Myrdal, which advocated for social welfare policies in Sweden.

2. He was a strong proponent of the role of social sciences in understanding and solving economic issues.

3. Myrdal’s work in “An American Dilemma” was cited by the U.S. Supreme Court in the landmark Brown v. Board of Education case that declared racial segregation in public schools unconstitutional.

4. He received the Illis quorum, Sweden’s highest civilian award, in 1961 for his contributions to social policy and economics.

5. Myrdal was a member of the Swedish Parliament and held various significant positions in the Swedish government, influencing social and economic policies.

5 Most Interesting Quotes from Gunnar Myrdal

1. “The big problem is not whether the poor will survive, but whether the rich are capable of living with their consciences.”

2. “Corruption is a direct and immediate result of the absence of an adequate legal system.”

3. “It is in the agricultural sector that the battle for long-term economic development will be won or lost.”

4. “A market left to itself does not necessarily promote economic efficiency.”

5. “Equality of opportunity is a fundamental value in a democratic society.”

Highest Net Worth Achieved

Gunnar Myrdal’s highest net worth is not well-documented, but his influence and contributions to economics and social policy have left a lasting legacy far beyond any financial measure.

Children

Gunnar Myrdal and his wife, Alva Myrdal, had three children: 1. Jan Myrdal – A noted author and political activist. 2. Sissela Bok – A renowned philosopher and ethicist. 3. Kaj Fölster – A social scientist and author.