Bertil Ohlin
1899 - 1979
5
Quotes
Biography
Bertil Ohlin was a Swedish economist and politician who was awarded the Nobel Memorial Prize in Economic Sciences in 1977. He is best known for developing the Heckscher-Ohlin model, which explains the patterns of international trade and the distribution of goods. Ohlin served as a professor of economics at the Stockholm School of Economics and held various government positions, including Minister for Trade. His work significantly impacted the field of international economics and trade theory.
Famous Quotes (5)
1
The Heckscher-Ohlin theory explains international trade by the comparative advantage of factors of production.
2
International trade is ultimately driven by differences in factor endowments.
3
Specialization based on comparative advantage leads to mutual gains in trade.
4
Free trade allows countries to focus on what they do best and benefit from global efficiency.
5
Economic development and growth are closely linked to patterns of international trade and specialization.