An International Economy: Problems and Prospects

xi, 381 pp. When Gunnar Myrdal was professor of political economy at Stockholm University, he expounded the doctrines of Keynes. When he was Swedish minister of commerce, he did not hesitate to impose government control over exports, imports, and foreign exchange in order to assure 'full employment.' As Executive Secretary of the United Nations Economic Commission for Europe he was concerned with the destruction of international economic cooperation which is the inevitable outcome of welfare state interference with world trade. In 1974, he received the Nobel Memorial Prize in Economic Sciences with Friedrich Hayek for 'their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the interdependence of economic, social and institutional phenomena.'