The adverse economic events following the First World War turned me toward economics. In the Dakotas, where I was born (April 30, 1902), I learned during my youth how hard it was for farm families to stay solvent. Farm product prices fell abruptly by more than half. Banks went bankrupt and many farmers suffered foreclosures.…

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Presentation Speech by Professor Erik Lundberg of the Translation from the Swedish text Your Majesties, Your Royal Highnesses, Ladies and Gentlemen, Economic development research covers a wide sector of economics. What it is concerned with ultimately is why some countries are rich and others poor, why some countries seem to be caught in a vicious…

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I was born in St. Lucia on January 23, 1915. My parents, who were both school teachers, had immigrated there from Antigua about a dozen years before. The islands were dissimilar in religion and culture, so our family had some slight characteristics of immigrant minorities. My progress through the public schools was accelerated. When I…

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14 October 1977 THIS YEAR’s ECONOMICS PRIZE AWARDED TO BERTIL OHLIN AND JAMES MEADE has decided that the 1977 Prize in Economic Sciences in Memory of Alfred Nobel shall be shared equally by Professor Bertil Ohlin, Stockholm, Sweden, and Professor James Meade, Cambridge, UK, for their pathbreaking contributions to the theory of international trade and…

Presentation Speech by Professor Assar Lindbeck of the Translation from the Swedish text Your Majesties, Your Royal Highnesses, Ladies and Gentlemen, The question why individuals, firms and nations exchange goods and services with each other, and how these processes are influenced by government policies, may be regarded as the basic issue in the science of…