Gunnar Myrdal Quotes
Rent control has in certain Western countries constituted, maybe, the worst example of poor planning by Governments lacking courage and vision.
Myrdal, Gunnar. Beyond the Welfare State: Economic Planning and Its International Implications. Yale University Press, 1960.
The mantra was not heard much after the collapse of the ‘smart’ markets in 2008 and the ‘dumb’ governments had to come to the rescue of the economy all over the industrialized world.
Karl Gunnar Myrdal was a Swedish economist and sociologist. In 1974, he received the Nobel Memorial Prize in Economic Sciences with Friedrich Hayek for "their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the interdependence of economic, social and institutional phenomena." He is best known in the United States for his study of race relations, which culminated in his book An American Dilemma: The Negro Problem and Modern Democracy. The study was influential in the 1954 landmark U.S. Supreme Court Decision Brown v. Board of Education. In Sweden, his work and political influence were important to the establishment of the Folkhemmet and the welfare state.