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Böhm-Bawerk, Eugen Von (1851–1914)

The New Palgrave Dictionary of Economics

Abstract

As civil servant and economic theorist, Böhm-Bawerk was one of the most influential economists of his generation. A leading member of the Austrian School, he was one of the main propagators of neoclassical economic theory and did much to help it attain its dominance over classical economic theory. His name is primarily associated with the Austrian theory of capital and a particular theory of interest. But his prime achievement is the formulation of an intertemporal theory of value which, when applied to an exchange economy with production using durable capital goods, yields a theory of capital, a theory of interest, and indeed a theory of distribution in which the time element plays a crucial role. Both this construction and his equally famous critique of Marx’s economics strongly influenced the development of economic theory from the 1880s until well into the 1930s.

This chapter was originally published in The New Palgrave: A Dictionary of Economics, 1st edition, 1987. Edited by John Eatwell, Murray Milgate and Peter Newman

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  1. http://link.springer.com/referencework/10.1007/978-1-349-95121-5

    K. H. Hennings

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    Hennings, K.H. (1987). Böhm-Bawerk, Eugen Von (1851–1914). In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95121-5_461-1

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    • DOI: https://doi.org/10.1057/978-1-349-95121-5_461-1

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    1. Latest

      Böhm-Bawerk, Eugen von (1851–1914)
      Published:
      13 March 2017

      DOI: https://doi.org/10.1057/978-1-349-95121-5_461-2

    2. Original

      Böhm-Bawerk, Eugen Von (1851–1914)
      Published:
      14 October 2016

      DOI: https://doi.org/10.1057/978-1-349-95121-5_461-1

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