Johan Gustaf Knut Wicksell, the author of these lectures,
is an economist of outstanding achievement whose work has
not yet received in English-speaking countries the attention it
deserves. In Scandinavia where he taught, and in Central
Europe and Italy where he has long been read, his influence has
already been extensive and important. But, in other parts,
even at the time of his death in 1926, he was probably less
known than any other economist of commensurate rank. In
recent years, however, largely as a result of the writings of
Professor Hayek and Mr. J. M. Keynes, his theories concerning
the rate of interest and the price level have become more widely
known and his reputation is on the increase. It is safe to say
that as the main body