A Difficult Decision?

During the spring and summer of 1931 Ragnar Frisch had to make one of the most difficult decisions of his life: Should he accept an offer from Yale University to become a full professor at that prestigious and internationally important university, or should he become a professor in economics at his old school, the provincial University of Oslo? He chose the University of Oslo. In this essay we shall indicate some reasons for that decision and record some of his more important activities influenced by or influencing that institution. In particular, some of the consequences of his choice for the subsequent teaching of economics and economic research in Norway will be described. The history of economics in Norway and Frisch's own research probably would have taken different directions had he remained at Yale.

In the spring of 1931, Dean Furniss at Yale sent Frisch a letter offering him a full professorship in economics, including a fairly large yearly grant that he might use for traveling and other research expenses. Frisch was granted the summer before making his final decision.