Reconsidering a Forgotten Norwegian Pioneer Economist
Focusing on Torkel Halvorsen Aschehoug's historical-empirical approach, this book delves into the economic theories of the prominent Norwegian legal theorist and politician during the late 19th century. It examines his contributions to economic thought, highlighting the significance of his ideas in the context of the era's evolving economic landscape.
How did Norway become a highly successful liberal democracy? Will its prosperity and stability last, or has modern history been an exception? Is the Norwegian experience based on luck, or has a part been played by clever politicians and sound institutions, including a well-functioning rule of law? How does Norway combine social democracy with a market economy, and extensive foreign trade? Since the 1970s, Norway has become an oil-producing giant in Northern Europe--how can that role be reconciled with the realities of climate change, and increasing awareness of that crisis? This highly engaging book introduces Norwegian political and economic history to a broad audience, offering a deeper understanding of a country always looked upon with great interest, but perhaps not profoundly understood. The Norwegian Exception? takes the reader back through 200 years of state-building to explain Norway's current position as a top-ranking nation, and to consider its chances of keeping that status in the twenty-first century. In particular, it unpacks how Norwegian politics and governance have shaped the country's world-famous oil fund and unique relationship with the European Union. Leading historians Mathilde Fasting and Øystein Sørensen skilfully draw back the curtain on the inner workings of the Norwegian 'utopia'.
The historical schools of economics have been neglected within the arena of economic theory since the Second World War in favour of the now-dominant classical and neoclassical schools of economic thought. As alternative frameworks re-emerge, this book offers a revaluation of the legal theorist, economist and politician Torkel Aschehoug (1822–1909) and his historical-empirical approach to economics, a highly influential current in Norway during the last decades of the nineteenth century.