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Karl Gustav Cassel
From Wikipedia, the free encyclopedia
 Karl Gustav Cassel |
|
| Born | October 20, 1866 Stockholm, Sweden |
|---|---|
| Died | January 14, 1945 |
| Residence | Sweden |
| Nationality | Swedish |
| Field | Economics |
| Institution | University of Stockholm |
| Known for | Purchasing Power Parity Work on Interest |
Karl Gustav Cassel (born October 20, 1866) was a Swedish economist and was Professor of Economics at the University of Stockholm, Sweden.
Cassel perspective on economic reality, and especially on the role of interest, was rooted in British neoclassicism and in the nascent Swedish schoolis. He is perhaps best know for his article Tract on Monetary Reform (1923), in which he raised the idea of Purchasing Power Parity.
He was also a founding member of the Swedish school of economics along with Knut Wicksell and David Davidson. Cassel came to economics from mathematics. He earned an advanced degree in mathematics from the University of Uppsala and was made professor at the University of Stockholm during the late 1890s but went to Germany before the turn of the century to study economics, publishing papers spanning just under forty years.
Among his other contributions apart from the rudiments of a purchasing power parity theory of exchange rates (1921). He produced an 'overconsumption' theory of the trade cycle (1918) and Nature and Necessity of Interest (1903). He also worked on the German reparations problem.