“Too Bad to Be True” : Swedish Economists on Keynes’s The Economic Consequences of the Peace and German Reparations, 1919–29
This chapter examines the response of five prominent Swedish economists, David Davidson, Gustav Cassel, Eli Heckscher, Knut Wicksell and Bertil Ohlin, to John Maynard Keynes’s The Economic Consequences of the Peace and to the German reparations in the 1920s. When Keynes’s book appeared, Davidson and Cassel strongly endorsed it. Heckscher also agreed with Keynes in a long review entitled “Too Bad t