Two Swedish economists foresaw the backlash against globalisation — here's how to mitigate it
The first article in the series Globalisation Under Pressure looks at work from the 1930s that anticipated the backlash against globalisation.
Economists Eli Heckscher (1879-1952) and Bertil Ohlin (1899-1979) died more than three decades ago. But it’s fair to assume that neither would have been surprised by the underlying causes of Donald Trump’s election as president of the United States, or Brexit for that matter.
Their Heckscher-Ohlin (H-O) model of international trade – developed at the Stockholm School of Economics in the 1930s – clearly predicted today’s middle-class discontent bellowing at the ballot box.Read more »