Knut Wicksell’s underappreciated contributions to economics spanned productivity theory, monetary economics, and public economics. Across all of his contributions, he faithfully applied the principle of value and countervalue—the equimarginal principle—which was inspired by his belief that a system based on this principle would produce economically just outcomes in the sense that “each man received his money’s worth.”
Diana W. Thomas is a Senior Fellow at the Independent Institute, Associate Professor of Economics and Director of the Institute for Economic Inquiry in the Heider College of Business at Creighton University, and Co-Editor of The Independent Review: A Journal of Political Economy.
EconomistsEconomyPhilosophy and Religion
Other Independent Review articles by Diana W. Thomas
Fall 2024 Hannah’s Children: The Women Quietly Defying the Birth Dearth
Spring 2024 The Power of Hope: How the Science of Well-Being Can Save Us from Despair
Spring 2024 The Human Prosperity Project: Essays on Socialism and Free Market Capitalism from the Hoover Institution
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