Skip to main content
SpringerLink
Log in

Austrian Economics Between the Wars: Some Historiographical Problems

  • Chapter
Austrian Economics: Tensions and New Directions

Part of the book series: Recent Economic Thought Series ((RETH,volume 30))

Abstract

The initial premise informing this chapter is deliberately cautious. The identity of an enterprise labeled “Austrian economics” during the interwar years cannot be simply considered a given, somehow prior to further considerations: it needs to be established by persuasive arguments.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Log in via an institution
Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 129.00
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 169.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 169.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Similar content being viewed by others

References

References

  • Abele, Hanns. 1978. “Toward a neo-Austrian Theory of Exchange.” In Equilibrium and Disequilibrium in Economic Theory, G. Schwödiauer, (ed.) Dordrecht, The Netherlands: D. Reidel, 203–212.

    Google Scholar 

  • Alter, Max. 1982. “Carl Menger and Homo Oeconomicus: Some Thoughts on Austrian Theory and Methodology,” Journal of Economic Issues 16: 149–160.

    Google Scholar 

  • Arrow, Kenneth J. 1987. “Rationality of Self and Others in an Economic System.” In Rational Choice: The Contrast between Economics and Psychology, R. M. Hogarth and M. W. Reder, (eds.) Chicago: University of Chicago Press, 201–215.

    Google Scholar 

  • Black, R. D. Collison, Coats, A. W., and Goodwin, Craufurd D. W., (eds.) 1973. The Marginal Revolution in Economics: Interpretation and Evaluation.Durham, NC: Duke University Press.

    Google Scholar 

  • Blaug, Mark. 1985. Economic Theory in Retrospect, 4th ed. Cambridge: Cambridge University Press.

    Google Scholar 

  • Blaug, Mark. 1990. “Comment on O’Brien’s ‘Lionel Robbins and the Austrian Connection’.” In Caldwell (1990), 185–188.

    Google Scholar 

  • Bliss, C. J. 1975. Capital Theory and the Distribution of Income. Amsterdam: North-Holland.

    Google Scholar 

  • Boehm, Stephan. 1984. “The Private Seminar of Ludwig von Mises.” Paper presented to the History of Economics Society Meetings at the University of Pittsburgh.

    Google Scholar 

  • Bonar, James. (J.B.). 1926. “Austrian School of Economists.” In Palgrave’s Dictionary of Political Economy, Vol. 1, H. Higgs, (ed.) London: Macmillan, 73.

    Google Scholar 

  • Caldwell, Bruce J. 1988. “Hayek’s Transformation,” History of Political Economy 20: 513–541.

    Article  Google Scholar 

  • Caldwell, Bruce J., (ed.) 1990. Carl Menger and His Legacy in Economics. Annual supplement to Volume 22, History of Political Economy. Durham, NC: Duke University Press.

    Google Scholar 

  • Chipman, John S. 1965. “The Nature and Meaning of Equilibrium in Economic Theory.” In Functionalism in the Social Sciences, D. Martindale, (ed.) American Academy of Political and Social Science, 35–64. (Page numbers refer to reprint in Price Theory: Selected Readings, H. Townsend, (ed.) 2d ed. Harmondsworth, UK: Penguin [1980], 435–467.)

    Google Scholar 

  • Craver, Earlene. 1986. “The Emigration of Austrian Economists,” History of Political Economy 18: 1–32.

    Article  Google Scholar 

  • Currie, Martin, and Steedman, Ian. 1989. “Agonising over Equilibrium: Hayek and Lindahl.” Quaderni di Storia dell’Economia Politica 7: 75–99.

    Google Scholar 

  • Currie, Martin, and Steedman, Ian. 1990. Wrestling with Time: Problems in Economic Theory. Manchester: Manchester University Press.

    Google Scholar 

  • Eagly, Robert V. 1974. The Structure of Classical Economic Theory. New York: Oxford University Press.

    Google Scholar 

  • Georgescu-Roegen, Nicholas. 1971. The Entropy Law and the Economic Process. Cambridge, MA: Harvard University Press.

    Google Scholar 

  • Haberler, Gottfried. 1961. “Mises’ Private Seminar.” Reprinted in Ludwig von Mises, Planning for Freedom, 4th ed. South Holland, IL.: Libertarian Press (1980), 276–278.

    Google Scholar 

  • Hayek, F. A. von. 1937. “Economics and Knowledge,” Economica, n.s. 4: 33–54.

    Article  Google Scholar 

  • Hayek, Friedrich A. 1949. Individualism and Economic Order. London: Routledge & Kegan Paul.

    Google Scholar 

  • Hayek, Friedrich A. v. 1965. “Wiener Schule,” Handwörterbuch der Sozialwissenschaften, Vol. 12. Stuttgart: G. Fischer, 68–71.

    Google Scholar 

  • Hennings, Klaus H. 1986. “The Exchange Paradigm and the Theory of Production and Distribution.” In Foundations of Economics: Structures of Inquiry and Economic Theory, M. Baranzini and R. Scazzieri, (eds.) Oxford: Blackwell, 221–243.

    Google Scholar 

  • Hicks, John R. 1976. “Some Questions of Time in Economics.” In Evolution, Welfare, and Time in Economics: Essays in Honor of Nicholas Georgescu- Roegen, A. M. Tang, F. M. Westfield, and J. S. Worley, (eds.) Lexington, MA.: D.C. Heath, 135–151.

    Google Scholar 

  • Hicks, John R. 1979. “Is Interest the Price of a Factor of Production?” In Time, Uncertainty, and Disequilibrium: Exploration of Austrian Themes, M. J. Rizzo,(ed.) Lexington, MA.: D.C. Heath, 51–69.

    Google Scholar 

  • Hicks, J. R., and Weber, W., (eds.) 1973. Carl Menger and the Austrian School of Economics. Oxford: Clarendon Press.

    Google Scholar 

  • Hutchison, T. W. 1953. A Review of Economic Doctrines, 1870–1929. Oxford: Clarendon Press.

    Google Scholar 

  • Jaffé, William, (ed.) 1965. Correspondence of Léon Walras and Related Papers, Vol. I—III. Amsterdam: North-Holland.

    Google Scholar 

  • Jaffé, William. 1976. “Menger, Jevons, and Walras De-homogenized,” Economic Inquiry 14: 511–524. (Page numbers refer to reprint in William Jaffé’s Essays on Walras, D. A. Walker, (ed.) Cambridge: Cambridge University Press [1983], 311–325.)

    Article  Google Scholar 

  • Kim, Kyun. 1988. Equilibrium Business Cycle Theory in Historical Perspective. Cambridge: Cambridge University Press.

    Google Scholar 

  • Kirzner, Israel. 1979. Perception, Opportunity, and Profit: Studies in the Theory of Entrepreneurship. Chicago: University of Chicago Press.

    Google Scholar 

  • Kirzner, Israel M. 1987. “Austrian School of Economics.” In The New Palgrave: A Dictionary of Economics, Vol. 1, J. Eatwell, M. Milgate, and P. Newman, (eds.) London: Macmillan, 145–151.

    Google Scholar 

  • Kirzner, Israel M. 1988. “The Economic Calculation Debate: Lessons for Austrians,” Review of Austrian Economics 2: 1–18.

    Article  Google Scholar 

  • Kirzner, Israel M. 1990. “Commentary on S. Boehm’s ‘The Austrian Tradition: Schumpeter and Mises’.” In Neoclassical Economic Theory, 1870 to 1930, K. Hennings and W. J. Samuels, (eds.) Boston, MA.: Kluwer, 242–249.

    Google Scholar 

  • Knight, Frank H. 1931. “Economics (History of Economic Thought): Marginal Utility Economics.” In Encyclopaedia of the Social Sciences, Vol. 5, E. R. A. Seligman, (ed.) New York: Macmillan, 357–363.

    Google Scholar 

  • Lachmann, Ludwig M. 1977. Capital, Expectations, and the Market Process: Essays on the Theory of the Market Economy, W. E. Grinder, (ed.) Kansas City: Sheed Andrews and McMeel.

    Google Scholar 

  • Lachmann, Ludwig M. 1982. “The Salvage of Ideas.” Zeitschrift für die gesamte Staatswissenschaft (Journal of Institutional and Theoretical Economics) 138: 629–645.

    Google Scholar 

  • Lachmann, Ludwig M. 1983. “John Maynard Keynes: A View from an Austrian Window,” South African Journal of Economics 51: 368–379.

    Article  Google Scholar 

  • Lachmann, Ludwig M. 1986. “Austrian Economics under Fire: The Hayek-Sraffa Duel in Retrospect.” In Austrian Economics: Historical and Philosophical Background, W. Grassl and B.Smith, (eds.) London: Croom Helm, 225–242.

    Google Scholar 

  • Leijonhufvud, Axel. 1976. “Schools, ‘Revolutions,’ and Research Programmes in Economic Theory.” In Method and Appraisal in Economics, S. J. Latsis, (ed.) Cambridge: Cambridge University Press, 65–108.

    Chapter  Google Scholar 

  • Loasby, Brian J. 1989. The Mind and Method of the Economist: A Critical Appraisal of Major Economists in the Twentieth Century. Aldershot, UK: Edward Elgar.

    Google Scholar 

  • Machlup, Fritz. 1981. “Ludwig von Mises: The Academic Scholar Who Would Not Compromise,” Wirtschaftspolitische Blätter 28(4): 6–14.

    Google Scholar 

  • Mayer, Hans. 1930. “Die Wert-und Preisbildung der Produktionsmittel.” In Economia Politica Contemporanea: Saggi di Economia e Finanza in Onoro del Prof. Camillo Supino, Vol. 2. Padova, 1–51.

    Google Scholar 

  • Mayer, Hans. 1932. “Der Erkenntniswert der Funktionellen Preistheorien.” In Die Wirtschaftstheorie der Gegenwart, Vol. 2, H. Mayer, F. A. Fetter, and R. Reisch, (eds.) Vienna: J. Springer, 147–239b. McCormick, Brian J. (in press). Hayek and the Keynesian Avalanche.

    Google Scholar 

  • Menger, Carl. 1923. Grundsätze der Volkswirtschaftslehre, 2d ed. K. Menger, (ed.) Vienna: Hölder-Pichler-Tempsky.

    Google Scholar 

  • Menger, Carl. [1871] 1981. Principles of Economics. Trans. J. Dingwall and B. F. Hoselitz. New York: New York University Press.

    Google Scholar 

  • Merton, Robert K. 1968. Social Theory and Social Structure (enlarged ed.) New York: Free Press.

    Google Scholar 

  • Mirowski, Philip. 1984. “Physics and the ‘Marginalist Revolution’,” Cambridge Journal of Economics 8: 361–379.

    Google Scholar 

  • Mises, Ludwig von. [1949] 1966. Human Action: A Treatise on Economics, 3d rev. ed. Chicago: H. Regnery.

    Google Scholar 

  • Mises, Ludwig von. 1969. The Historical Setting of the Austrian School of Economics. New Rochelle, NY: Arlington House.

    Google Scholar 

  • Mises, Ludwig von. [1933] 1981. Epistemological Problems of Economics. Trans. G. Reisman. New York: New York University Press.

    Google Scholar 

  • Morgenstern, Oskar. 1928. Wirtschaftsprognose. Eine Untersuchung ihrer Voraussetzungen und Möglichkeiten. Vienna: J. Springer.

    Google Scholar 

  • Morgenstern, Oskar. 1931. “Die drei Grundtypen der Theorie des Subjektiven Wertes.” In Probleme der Wertlehre, L. Mises and A. Spiethoff, (eds.) Munich: Duncker & Humblot, 3–42.

    Google Scholar 

  • Morgenstern, Oskar. 1934. “Das Zeitmoment in der Wertlehre,” Zeitschrift für Nationalökonomie 5: 433–458. (Translated as “The Time Moment of Value Theory” in Schotter [1976], 151–167.)

    Article  Google Scholar 

  • Morgenstern, Oskar. 1935. “Vollkommene Voraussicht und Wirtschaftliches Gleichgewicht,” Zeitschrift für Nationalökonomie 6: 337–357. (Translated by Frank Knight as “Perfect Foresight and Economic Equilibrium” in Schotter [1976], 169–183.)

    Article  Google Scholar 

  • Morgenstern, Oskar. [1934] 1937. The Limits of Economics. Trans. V. Smith. London: W. Hodge.

    Google Scholar 

  • Morgenstern, Oskar. 1972. “Thirteen Critical Points in Contemporary Economic Theory: An Interpretation,” Journal of Economic Literature 10: 1163–1189.

    Google Scholar 

  • Negishi, Takashi. 1985. Economic Theories in a non-Walrasian Tradition. Cambridge: Cambridge University Press.

    Book  Google Scholar 

  • Negishi, Takashi. 1989. History of Economic Theory. Amsterdam: North-Holland.

    Google Scholar 

  • Nikaido, Hukukane. 1975. Monopolistic Competition and Effective Demand. Princeton, NJ: Princeton University Press.

    Google Scholar 

  • Nussbaumer, Adolf. 1973. “On the Compatibility of Subjective and Objective. ” Theories of Economic Value.“ In Hicks and Weber (1973), 75–91.

    Google Scholar 

  • O’Brien, D.P. 1990. “Lionel Robbins and the Austrian Connection.” In Caldwell (1990), 155–184.

    Google Scholar 

  • Pareto, Vilfredo. [1906] 1972. Manual of Political Economy. Trans. A.S. Schwier, A.S. Schwier and A.N. Page, (eds.) London: Macmillan.

    Google Scholar 

  • Perroux, François. 1980. “Peregrinations of an Economist and the Choice of His Route,” Banca Nazionale del Lavoro Quarterly Review No. 133 (June 1980): 147–162.

    Google Scholar 

  • Phelps, Edmund. 1988. “Comment on N. G. Mankiw’s ‘Recent Developments in Macroeconomics: A Very Quick Refresher Course’,” Journal of Money, Credit, and Banking 20: 456–458.

    Article  Google Scholar 

  • Prendergast, Christopher. 1986. “Alfred Schutz and the Austrian School of Economics,” American Journal of Sociology 92: 1–26.

    Article  Google Scholar 

  • Punzo, Lionello F. 1989. “Von Neumann and Karl Menger’s Mathematical Colloquium.” In John von Neumann and Modern Economics, M. Dore, S. Chakravarty, and R. Goodwin, (eds.) Oxford: Clarendon Press, 29–65.

    Google Scholar 

  • Punzo, Lionello F. 1991. “The School of Mathematical Formalism and the Viennese Circle of Mathematical Economists.” Journal of the History of Economic Thought 13: 1–18.

    Article  Google Scholar 

  • Richardson, G. B. 1960. Information and Investment: A Study in the Working of the Competitive Economy. London: Oxford University Press. (Reprinted by Clarendon Press in 1990.)

    Google Scholar 

  • Rosenstein-Rodan, P. N. 1930. “Das Zeitmoment in der Mathematischen Theorie des Wirtschaftlichen Gleichgewichtes,” Zeitschrift für Nationalökonomie 1: 129–142.

    Article  Google Scholar 

  • Rosenstein-Rodan, P. N. 1934. “The Rôle of Time in Economic Theory,” Economica 1: 77–97.

    Article  Google Scholar 

  • Ruppe-Streissler, Monika. 1963. “Zum Begriff der Wertung in der Älteren Österreichischen Grenznutzenlehre,” Zeitschrift für Nationalökonomie 22: 377–419.

    Google Scholar 

  • Schotter, Andrew, (ed.) 1976. Selected Economic Writings of Oskar Morgenstern. New York: New York University Press.

    Google Scholar 

  • Schotter, Andrew. 1991. “Oskar Morgenstern’s Contribution to the Development of the Theory of Games,” C.V. Starr Center for Applied Economics, New York University, Research Report #91–08. Forthcoming in History of Political Economy (annual supplement).

    Google Scholar 

  • Schumpeter, Joseph A. 1954. History of Economic Analysis. Ed. from manuscript by E. Boody Schumpeter. New York: Oxford University Press.

    Google Scholar 

  • Shackle, G. L. S. 1967. The Years of High Theory: Invention and Tradition in Economic Thought, 1926–1939. Cambridge: Cambridge University Press.

    Google Scholar 

  • Shackle, G. L. S. 1988. Business, Time and Thought: Selected Papers, S. F. Frowen, (ed.) London: Macmillan.

    Google Scholar 

  • Stigler, George J. 1941. Production and Distribution Theories: The Formative Period. New York: Macmillan.

    Google Scholar 

  • Streissler, Erich. 1973. “To What Extent Was the Austrian School Marginalist?” In Black, Coats, and Goodwin (1973), 160–175.

    Google Scholar 

  • Sweezy, Alan R. 1933–34. “The Interpretation of Subjective Value Theory in the Writings of the Austrian Economists,” Review of Economic Studies 1: 176–185.

    Article  Google Scholar 

  • Sweezy, Alan R. 1934. The Austrian School and the Interpretation of Subjective Value. Ph.D. thesis. Harvard University.

    Google Scholar 

  • Walker, Donald A. 1986. “Walras’s Theory of the Entrepreneur,” De Economist 134: 1–24.

    Article  Google Scholar 

  • Walsh, Vivian, and Gram, Harvey. 1980. Classical and Neoclassical Theories of General Equilibrium: Historical Origins and Mathematical Structure. New York: Oxford University Press.

    Google Scholar 

  • Weintraub, E. Roy. 1983. “On the Existence of the Competitive Equilibrium: 1930–1954,” Journal of Economic Literature 21: 1–39.

    Google Scholar 

  • Wieser, Friedrich von. (F. W.) 1926. “The Austrian School of Economists.” In Palgrave’s Dictionary of Political Economy, Vol. 1, H. Higgs, (ed.) London: Macmillan, pp. 814–818.

    Google Scholar 

  • Wiseman, Jack. 1985. “Lionel Robbins, the Austrian School, and the LSE Tradition.” In Research in the History of Economic Thought and Methodology, Vol. 3, W. J. Samuels, (ed.) 147–159.

    Google Scholar 

  • Zuidema, J. R. 1988. “Carl Menger, Author of a Research Programme,” Journal of Economic Studies 15 (3/4): 13–35.

    Article  Google Scholar 

Reference

  • Blaug, Mark. 1990. “Comment on O’Brien’s ‘Lionel Robbins and the Austrian Connection’.” In Carl Menger and His Legacy in Economics, B. J. Caldwell, (ed.) Durham, NC: Duke University Press, 185–88.

    Google Scholar 

  • Haberler, Gottfried. 1946. Prosperity and Depression. New York: United Nations.

    Google Scholar 

  • Hayek, Friedrich A., (ed.) 1935. Collectivist Economic Planning. London: Routledge and Kegan Paul.

    Google Scholar 

  • Hicks, John. 1967. “The Hayek Story.” In Critical Essays in Monetary Theory. Oxford: The Clarendon Press, 203–15.

    Google Scholar 

  • Kaldor, Nicholas. 1939. “Capital Intensity and the Trade Cycle,” Economica. Reprinted in Essays on Economic Stability and Growth. London: Gerald Duckworth, 120–47.

    Google Scholar 

  • Kaldor, Nicholas. 1942. “Professor Hayek and the Concertina Effect,” Economica. Reprinted in ibid: 148–76.

    Google Scholar 

  • Kaldor, Nicholas. 1960. Essays on Value and Distribution. London: Gerald Duckworth, 153–205.

    Google Scholar 

  • Kim, Kyun. 1988. Equilibrium Business Cycle Theory in Historical Perspective. Cambridge: Cambridge University Press.

    Google Scholar 

  • Lavoie, Don. 1985. Rivalry and Central Planning. The Socalist Calculation Debate Reconsidered. Cambridge: Cambridge University Press.

    Google Scholar 

  • Murrell, Peter. 1983. “Did the Theory of Market Socialism Answer the Challenge of Ludwig von Mises? A Reinterpretation of the Socialist Controversy,” History of Political Economy 15(1), Spring: 92–105.

    Article  Google Scholar 

  • Moss, Laurence S. and Vaughn, Karen I. 1986. “Hayek’s Ricardo Effect: A Second Look,” History of Political Economy 18(4), Winter: 545–65.

    Article  Google Scholar 

  • O’Brien, Denis P. 1988. Lionel Robbins. London: Macmillian.

    Google Scholar 

  • Sraffa, Piero. 1932. “Dr Hayek on Money and Capital,” Economic Journal 42(1): 42–53.

    Article  Google Scholar 

  • Vaughn, Karen I. 1980. “Economic Calculation Under Socialism: the Austrian Contribution,” Economic Inquiry 18(4), October: 535–54.

    Article  Google Scholar 

Download references

Authors
  1. Stephan Boehm
    View author publications

    You can also search for this author in PubMed Google Scholar

  2. Mark Blaug
    View author publications

    You can also search for this author in PubMed Google Scholar

Editor information

Editors and Affiliations

  1. Department of Economics Joseph M. Bryan School of Business and Economics, University of North Carolina at Greensboro, 462 Bryan Building, Greensboro, NC, 27412-5001, USA

    Bruce J. Caldwell

  2. Faculty of Social and Economics Studies Institute of Economics, Karl-Franzens University of Graz, Graz, A-8010, Austria

    Stephan Boehm

Rights and permissions

Reprints and permissions

Copyright information

© 1992 Springer Science+Business Media New York

About this chapter

Cite this chapter

Boehm, S., Blaug, M. (1992). Austrian Economics Between the Wars: Some Historiographical Problems. In: Caldwell, B.J., Boehm, S. (eds) Austrian Economics: Tensions and New Directions. Recent Economic Thought Series, vol 30. Springer, Dordrecht. https://doi.org/10.1007/978-94-011-2186-6_1

Download citation

  • DOI: https://doi.org/10.1007/978-94-011-2186-6_1

  • Publisher Name: Springer, Dordrecht

  • Print ISBN: 978-94-010-4968-9

  • Online ISBN: 978-94-011-2186-6

  • eBook Packages: Springer Book Archive

Publish with us

Policies and ethics

Search

Navigation