HECKSCHER, ELI FILIP

born Nov. 24, 1879, Stockholm died Nov. 26, 1952, Stockholm Swedish economist and economic historian. Heckscher graduated from the University of Uppsala in 1904, receiving his Ph.D. in 1907. He became a professor in 1909 at the then recently founded Stockholm School of Economics. In 1929 he was one of the founders and director of the Stockholm Institute for Economic History. Although Heckscher is now chiefly remembered as an economic historian, he also made several contributions to economic theory, including the concept of commodity points, which limits the fluctuation of inconvertible paper currencies (Ekonomisk Tidskrift, 1916). In a famous article of 1919 he argued for free trade, putting forward the hypothesis that the comparative trading advantage of different countries is due to differences in productive factors. This idea was expanded upon by his pupil, economist Bertil Ohlin, and is now known as the Heckscher-Ohlin theory. Heckscher wrote mostly on economic history. His works in this area include Kontinental systemet (1918; The Continental System, 1922); Merkantilismen (1931; Mercantilism, 1935), considered a classic on mercantilism; and Sveriges ekonomiska historia (1935; An Economic History of Sweden, 1954).