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This working paper - like its companion, Caldwell and Klausinger 2021 - grew out of the authors' joint work on Hayek: A Life, 1899-1950 (Caldwell and Klausinger 2022) and it contains material supplementing it. This paper draws to a large extent on Friedrich Hayek's own investigations into the...
Persistent link: https://www.econbiz.de/10012515260
This working paper - like its companion, Caldwell and Klausinger 2021 - grew out of the authors' joint work on Hayek: A Life 1899-1950 (Caldwell and Klausinger 2022) and it contains material supplementing it. This paper examines the intellectual circles of fin-desiécle Vienna in which the Hayek...
Persistent link: https://www.econbiz.de/10012515261
is meant by rational economic theory” (Neurath) and whether “socialism is the abolition of rational economy” (Mises …
Persistent link: https://www.econbiz.de/10012607642
In this report Professor Samuelson staff prepares a tour of the work and thought of highlighting the contributions of Hayek Austrian economist and showing the world within which they took power broadly two contradictory paradigms of economic thought. This testimony intellectual frontline is...
Persistent link: https://www.econbiz.de/10013148972
some of the most essential elements of modern economic theory, the concepts of mutual determination and equilibrium … (developed by the use of the theory of simultaneous equations)." I propose a radically different assessment, arguing that post …-1870 debates over the extension of the subjective marginal utility theory of value to production and distribution, coupled …
Persistent link: https://www.econbiz.de/10011642528
three fathers of marginal utility theory, and Karl Menger, whose Vienna Mathematical Colloquium was crucial to the …
Persistent link: https://www.econbiz.de/10011949657
with regard first to the theory of capital and then to the theory of entrepreneurship. Part I focuses on the elements of … continuity between the classical and the Austrian theory of capital. These elements have been singled out by dealing first with … of vertical integration. Part II focuses on the elements of continuity between the Austrian theory of individual …
Persistent link: https://www.econbiz.de/10011895094
Joseph A. Schumpeter developed a very well-known theory of entrepreneurs and entrepreneurship, centred on the concept …
Persistent link: https://www.econbiz.de/10011895105
This paper provides a comprehensive survey of the contributions of the Austrian school of economics, with specific emphasis on post-WWII developments. We provide a brief history and overview of the original theorists of the Austrian school in order to set the stage for the subsequent development...
Persistent link: https://www.econbiz.de/10014128548
Austrian and post-Marshallian economics share a number of concerns, such as a basic subjecticist stance and an emphasis on the importance of inquiry into the disequilibrium market process. This paper details similarities and differences between these two bodies of thought, and argue that a...
Persistent link: https://www.econbiz.de/10014071481