. Gripenstedt first entered politics as a representative of the
nobility at the
Riksdag of 1840–1841. He soon distinguished himself as a skillful speaker and was elected to the parliament's
Committee on the Accords (). Through his marriage into the
Anckarswärd family in 1842, Gripenstedt became affiliated with the "liberal landowners'"-faction of the parliament, led by
Carl Henrik Anckarswärd. In the end of 1841, Gripenstedt was elected to the parliament's powerful
Committee on the Constitution, which at this time worked on a new representative reform. As opposed to the conservative group of the parliament, Gripenstedt was a strong adherent of
free elections and
general suffrage long before this was realized in Sweden. During start of the Riksdag of 1847, Gripenstedt was elected to the
Committee of the State. As a trustee of Carl Henrik Anckarswärd, and later as the owner of estates such as
Nynäs Castle in
Södermanland, Gripenstedt became a successful entrepreneur within the grain exports and iron industry. In 1848 Gripenstedt was selected, to many's surprise, by King
Oscar I to serve as
Minister without Portfolio () in his cabinet. The post was first offered to the conservative
Jacob Nils Tersmeden, who declined, and King Oscar wanted to rejuvenate his cabinet why he selected Gripenstedt instead. Gripenstedt also served as acting
Minister for Finance from 10 January to 21 October 1851. On 28 May 1856 he was appointed as (permanent) Minister for Finance. Influenced by French liberal thinkers such as
Alexis de Tocqueville and
Frédéric Bastiat, Gripenstedt was a leading proponent of
free trade and other liberal reforms. He succeeded in getting the Swedish parliament to gradually abolish
tariffs and reduce customs duties. In 1865 he signed trade agreements with France, the
German Customs Union and
Prussia, which resulted in greatly reduced customs duties on many products. His optimistic descriptions in the Swedish parliament in 1857 of the economic situation of the country, the so-called "flower paintings" (), paved the way for a fast expansion of the
Swedish railroad network, which was financed by loans on the international market. Against the opposition, Gripenstedt insisted that national railroads should
not be profitable as a business, but that they as an infrastructure should contribute to the profitability of other investments and to the country as a whole. Gripenstedt opposed an activist
foreign policy, which he saw as a threat to the economic stability of the country. As the
Danish-
German conflict over the
Schleswig-Holstein Question grew more tense, Gripenstedt and then
Prime Minister for Justice Louis De Geer (also a devoted liberal) stopped King
Charles' plan for Swedish military support in the
upcoming war. Following his retirement as Minister for Finance on 4 July 1866, Gripenstedt served as a member of the
lower house of the new bicameral
parliament from 1867 to 1873. He died in
Stockholm on 13 July 1874 (aged sixty), following a long period of illness. He is buried at
Bälinge Church in
Södermanland. == Family life ==