Advertisement

Mises and his money

  • Simon Bilo
Article
  • 18 Downloads

Abstract

When he arrived in the US, Ludwig von Mises faced financial difficulties and had to find new sources of income. I use archival material to build on the existing narratives and to present a more informed version of Mises’s finances and employment after his arrival. First, I document the financial struggles of the Mises family after arriving in the US and show that they were not as severe as other accounts suggest. Second, I look at Mises’s appointment letters from New York University (NYU) and find inconclusive the claims that private donors funded all his NYU income. Third, I look at some of the other noteworthy episodes of Mises’s financial history.

Keywords

Austrian economics New York University Ludwig von Mises Volker Fund 

JEL classification

B25 B31 

Notes

Acknowledgements

I would like to thank Harry David and participants in the 2018 Wirth Institute Conference in Edmonton, Alberta, for valuable comments and suggestions on an earlier draft of the present paper. I am also thankful to Hilary Walczak of the Grove City College Archive for her help with accessing the archival materials in the Ludwig von Mises Collection. I gratefully acknowledge the financial help that I received from the Mercatus Center while working on this project. I am responsible for all errors.

References

  1. BLS (2018) CPI-all urban consumers (current series). https://beta.bls.gov/dataViewer/view/timeseries/CUUR0000SA0. Accessed 2 September 2018
  2. Bank of England (2018) U.S. / U.K. foreign exchange rate in the United Kingdom [USUKFXUKM]. https://fred.stlouisfed.org/series/USUKFXUKM Accessed 4 September 2018
  3. Boddy, F. M. (1971). Recent behavior of economists’ salaries. American Economic Review, 61, 316–320.Google Scholar
  4. Bradsher K (1995) Gottfried Haberler, Resolute Free-Market Economist, Dies at 94. The New York Times, May 9, 1995. https://nyti.ms/2CWn0wH. Accessed 14 September 2018
  5. Caldwell BJ (2004) Hayek’s Challenge: An Intellectual Biography of F. A. Hayek. University of Chicago Press, Chicago and LondonGoogle Scholar
  6. Caldwell, B. J. (2008). History in the Service of Ideology. History of Economic Ideas, 16, 43–148.Google Scholar
  7. Hülsmann JG (2007) Mises: The Last Knight of Liberalism. Ludwig von Mises Institute, Auburn, AlabamaGoogle Scholar
  8. Kirzner I (2001) Ludwig von Mises: The Man and His Economics. ISI Books, Wilmington, DelawareGoogle Scholar
  9. Klausinger, H. (2006). From Mises to Morgenstern: Austrian economics during the Ständestaat. Quarterly Journal of Austrian Economics, 9, 25–43.CrossRefGoogle Scholar
  10. Mises L (1996 [1949]) Human Action: A Treatise on Economics. 4th rev. ed. Fox & Wilkes, San Francisco, CAGoogle Scholar
  11. Mises, M. (1976). My years with Ludwig von Mises. In Arlington house. New York: New Rochelle.Google Scholar
  12. NBER. (1941). The National Bureau and its collaborators. New York: H Wolff.Google Scholar
  13. Sennholz, H. F. (1978). Postscript. In: Mises L notes and recollections. Libertarian press (pp. 145–176). Illinois: South Holland.Google Scholar
  14. Stigler, G. J. (1950). Employment and compensation in education, occasional paper 33. New York, NY: NBER.Google Scholar
  15. Stigler, G. J. (1956). Trends in employment in the service industries: A study by the National Bureau of economic research. Princeton: Princeton University Press.Google Scholar
  16. Vaughn, K. I. (1994). Austrian economics in America: The migration of a tradition. Historical perspectives on modern economics. Cambridge: Cambridge University Press.CrossRefGoogle Scholar

Copyright information

© Springer Science+Business Media, LLC, part of Springer Nature 2019

Authors and Affiliations

  1. 1.ArlingtonUSA

Personalised recommendations