Cassel, Gustav (1866–1945)

Swedish economist. He became the most influential international member of the economics profession in the 1920s, playing an important part in interpreting the abnormal monetary phenomena of the years between the wars and contributing to the theories of interest and of the trade cycle. His most important theoretical work was Theory of Social Economy (1923). He was first and foremost a monetary specialist, and was the leading theoretical expert on foreign exchange during the chaotic period after 1918.