Sraffa, Myrdal, and the 1961 Söderström Gold Medal

Abstract

This paper reconstructs the awarding of the 1961 Soderstrom Gold Medal to Piero Sraffa by The Royal Swedish Academy of Sciences. It explains why the prize was created and highlights Gunnar Myrdal’s nomination of Sraffa for the award overseen by the Academy. Primary historical documents are used to establish the amicable relationship between these two economists and to point out their differences and affinities on issues relating to the history of economic thought, particularly in connection with Ricardo’s economics. In addition, Sraffa's activities in Stockholm are detailed, including his contact with Swedish economists and his attendance at the award ceremony. Contemporary reactions in Sweden and Italy to the awarding of this prize to Sraffa are reviewed. The final remarks offer some reflection on the significance of the 1961 Soderstrom Gold Medal for the history of economics as a field of study.