Eli Heckscher

Eli Filip Heckscher (1879–1952) was a Swedish economist and economic historian whose work on economic history and international trade helped shape modern economics.

Bertil Ohlin: A Swedish economist who developed the Heckscher–Ohlin theory of international trade and received the 1977 Nobel Memorial Prize in Economic Sciences. Ohlin formalized the trade theory Heckscher had first proposed.
International trade: The exchange of goods and services across national borders. Heckscher’s trade theory explains patterns in this broader economic activity.
Heckscher–Ohlin model: A trade model predicting that countries export goods intensive in their relatively abundant factors of production. It is the best-known theoretical legacy associated with Heckscher.
Heckscher–Ohlin theory: A theory explaining international trade through countries’ differing supplies of labor, capital, and other productive factors. This theory carries Heckscher’s name and frames his most influential contribution to trade economics.
Gustav Cassel: A Swedish economist known for work on purchasing power parity and general economic theory. Cassel was a leading contemporary in the Swedish economics milieu Heckscher helped shape.
Factor of production: An input used to produce goods or services, such as labor, land, or capital. Differences in factor abundance are the theory’s starting point.
Factor abundance: The relative availability of a productive resource, such as labor or capital, within an economy. Relative abundance gives countries different cost advantages in the model.
Factor content of trade: The quantities of labor, capital, and other production factors embodied in traded goods. Measuring factor content provides a direct empirical test of the theory.
Eli Filip Heckscher: The full name of Swedish economist and economic historian Eli Heckscher. His full name appears in biographical and archival records.
Economic history: The study of how economies and economic institutions change over time. Historical explanation was a major part of Heckscher’s scholarly work.

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