Stockholm school - Definition and Overview

The Stockholm School, or Stockholmsskolan, is a school of economic thought. It refers to a loosely organized group of Swedish economists that worked together, in Stockholm, Sweden primarily in the 1930s.

They arguably developed Keynesian economics before Keynes. The main members were Gunnar Myrdal and Bertil Ohlin, who both received the Nobel Prize for Economics. Although their ideas were novel in the 1930s, the school never focused on publicizing their work and the members were later scattered. Myrdal spent many years in the U.S. working on what eventually led to the book An American Dilemma, a major investigation of the situation of African Americans. Ohlin became the Swedish opposition leader for over twenty years, battling the incumbent Social Democrat government. Other members, such as Erik Lundberg, continued as business cycle oriented economists.

See also: Stockholm School of Economics (Business School)