Karl Gustav Cassel Swedish economist, professor of economics Date of Birth: 20.10.1866 Country: Sweden

1. Biography of Karl Gustav Cassel
2. Contributions to Economics
3. Foundations of Swedish Economic Science
4. Other Contributions and Achievements
5. Publication and Translation

Biography of Karl Gustav Cassel

Karl Gustav Cassel, born on October 20, 1866, was a Swedish economist and a professor of economics at Stockholm University. He obtained his degree in mathematics from Uppsala University and initially taught at Stockholm University. However, he later relocated to Germany to pursue research in a new field.

Contributions to Economics

Karl Gustav Cassel was known for his unique perspective on contemporary economics, closely related to the concepts of British neoclassicism and young Swedish economic schools. One of his most famous contributions was in John Maynard Keynes' article, "Tract on Monetary Reform," where he extensively discussed the issue of purchasing power parity of currencies. Cassel was considered one of the most prominent figures in the economics field during the 1920s and 1930s. Although he was second in authority only to Lord Keynes, his expertise was widely sought after by government officials from Sweden and other countries.

Foundations of Swedish Economic Science

Many consider Cassel, along with Knut Wicksell and David Davidson, as one of the founding figures of Swedish economic science. His recognition extended beyond Sweden, as he was consulted by government agents and representatives from various nations. Despite starting his career in mathematics, Cassel made significant contributions to the field of economics.

Other Contributions and Achievements

Apart from his ideas on purchasing power parity, Cassel published works on the theory of "overconsumption" as a stage in any trade cycle in 1918. He also extensively worked on the issue of German reparations and served as a member of several Swedish government committees. Cassel spent considerable effort analyzing and processing budgetary data. He represented Sweden at the International Financial Conference in London and in the Royal Economic Society.

Publication and Translation

While Cassel's works were primarily published in Sweden and in the Swedish language, translations of his works were also available in other languages, particularly German and English.