Martin Wilhelm Heckscher

Martin Wilhelm Heckscher was a Swedish economist and researcher known for his work on international trade. He is most famous for developing the Heckscher-Ohlin model, which explains that countries tend to export goods that use their abundant resources more intensively and import goods that require resources they lack. Essentially, His theory helps us understand why countries have different industries and trade patterns based on their resource availability, such as land, labor, and capital. His contributions have significantly shaped modern economic thought on how and why international trade occurs.