Waving the Swedish Flag in Economics Festschrift for Hans-Michael Trautwein

This book examines Swedish influences in the history of economics. Knut Wicksell (1851-1926) can be regarded as the founder of modern monetary macroeconomics. His work has significantly influenced both economic theory and the monetary policy of central banks and continues to do so to this day. Wicksell and other important Swedish economists like Gustav Cassel, Bertil Ohlin and Erik Lindahl, as well as Swedish economic policy, have shaped Hans-Michael Trautwein’s research from the very beginning. In this book, written in honor of Hans-Michael Trautwein, leading international scholars discuss various topics in modern monetary macroeconomics, Swedish contributions to economics, problems in international economics and globalization, and selected topics in the history of economic thought.

Part I. Monetary Macroeconomics.- Chapter 1. Macro’s Missing Links. Exploring the Space between Monetarism and the Wicksell Connection (David Laidler).- Chapter 2. The problems of inflation targeting originate in the monetary theory of Knut Wicksell (Lars Jonung).- Chapter 3. Price Stability, Macroeconomic Imbalances, and the Role of Monetary Policy (Roberto Tamborini).- Chapter 4. Rise of Capitalism and Early Interest Rate Theory (Peter Spahn).- Chapter 5. The ECB as a Dealer of Last Resort for a Modern Monetary Perspective (Dirk Ehnts).- Part II. Swedish Economic Thought.- Chapter 6. Coordination Failures and the political economy of economic policy (Abdallah Zouache).- Chapter 7. Explaining the post-pandemic inflation dynamics - Back to Wicksell (Nicolas Barbaroux).- Chapter 8. In the Shadow of Wicksell: Emil Sommarin", (or the Master and his Disciple: Knut Wicksell and Emil Sommarin) (Bo Sandelin).- Chapter 9. Margit Cassel’s The Communal Economy. Its position and necessity in the exchange economy: A critical appraisal (Siv Gustafsson).- Chapter 10. On the Perception and Reception of the Stockholm School in German-Speaking economics (Heinz Rieter).- Part III. International Economics and Globalization.- Chapter 11. Viner and Ohlin (Stephen Meardon).- Chapter 12. “Making war to war” or how to train elites about European economic ideas: Keynes’ articles published in L’Europe Nouvelle during the interwar period (Annie L. Cot).- Chapter 13. Keynes’s Loan Negotiations in 1945 - Faced with a “Financial Dunkirk” (Toshiaki Hirai).- Chapter 14. Securing Full-Employment in a Globalized World Economy: Exploring Kalecki’s and Keynes’s views (Eckhard Hein).- Chapter 15. Behind Qin’s Notes: A consensus Politics Perspective (Qunyi Li).- Chapter 16. Plus Ultra! (Heinz D. Kurz).- Part IV. History of Economic Thought.- Chapter 17. Trautwein’s Challenge to the History of Economics (John Davis).- Chapter 18. Hugo Grotius, Google Translate, and Some Others : Issues Regarding Money Loans (André Lapidus).- Chapter 19. Adam Smith versus Francois Quesnay on Chinese Economy and Society (Robert W. Dimand).- Chapter 20. Halfway House, no Wicksell equilibrium: Schumpeter and Mixed Economics (Richard Sturn).- Chapter 21. Nature, Well-Being, and Moral Sentiments. Modern Economics and Some History of Economic Thought (Heinz Welsch).- Part V. Hans-Michael Trautwein : Bibliography 1986-2024.

Muriel Dal Pont Legrand is a Professor of Economics at the Université Cote D’Azur UCA Nice and GREDEG-CNRS, France. She is Co-Managing editor of the European Journal of the History of Economic Thought.

Harald Hagemann is Professor em. of Economic Theory at the University of Hohenheim in Stuttgart, Germany, and a Life Member of Clare Hall, University of Cambridge. He is also Honorary Past President of the European Society for the History of Economic Thought.