Economics

Austrian Economics in Transition: From Carl Menger to by Harald Hagemann, Tamotsu Nishizawa, Yukihiro Ikeda

By Harald Hagemann, Tamotsu Nishizawa, Yukihiro Ikeda

Harald Hagemann, Tamotsu Nishizawa, Yukihiro Ikeda (eds.)

This ebook analyzes either the constant and altering components within the Austrian institution of Economics because its beginning within the overdue nineteenth Century as much as the new offspring of this college. It investigates the dynamic metamorphosis of the college, quite often as regards to its touch with representatives of background of monetary inspiration.

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Extra resources for Austrian Economics in Transition: From Carl Menger to Friedrich Hayek

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Wicksell, K. (1956) Selected Papers on Economic Theory, edited by E. Lindahl, London: Routledge. Yagi, K. (1983) ‘Formation of Böhm-Bawerk’s Capital and Interest Theory’, in K. ) (1983). Yagi, K. ) (1983) Böhm-Bawerk’s First Interest Theory with C. Menger – BöhmBawerk Correspondence 1884–85, Study Series No. 3 of the Center for Historical Social Science Literature, Hitotsubashi University. Yagi, K. (1992) ‘Carl Menger as Editor: Significance of Journalistic Experience for his Economics and for his Later Life’, Revue Européenne des Sciences Sociales, XXX(92).

Weber himself felt an identity with the Historical School, referring to ‘we disciples of German Historical School’ (1971: 16). In the prefatory essay as the editor of a new journal he referred to the rivalry of 41 42 Liberal Aspects of the Historical School: Max Weber the two schools, and made an effort to clarify the logical relationship of both schools (1969: 85–95). His effort resulted in the construction of ‘ideal type’, which would contribute to the understanding of the regularity, and so of the causality of individuality of the phenomena.

In a manner slightly different from that of the Rudolf Lectures, Menger’s arguments here are fundamentally based on German and Austrian sources. Moreover, his position in the Vienna lectures can be interpreted as opening a way to the welfare state. If this interpretation 18 Carl Menger: Towards a New Image of the Founder is justified, it means that the two sets of lectures are not insignificantly opposed to each other on the problem of state intervention; however, his arguments in the Vienna lectures are concerned almost exclusively with state revenue, which makes it difficult to hazard a good guess about his thoughts on the possible ways to use money for various purposes.

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