2612:
555:
833:
1861:
355:
912:) is a neutral phenomenon, independent of the economic system. His idea of natural value tends to highlight how the value of property is continuously dependent on the distribution of income between different social classes, so that in the presence of a situation greatly lacking in equidistribution, goods or services provided with little social utility can be of great value and vice versa.
1114:). Thus, Wieser identified a flaw in the theory of imputation as expounded by his teacher Carl Menger as overvaluation may occur if one is confronted with economies where profits jump (maximums and minimums in his utility function, where its second derivative equals 0). Wieser suggested as an alternative the simultaneous solution of a system of industrial equations.
1543:. Their common vocation was to develop an economic theory on a firm basis. To do this, following the course initiated by Carl Menger, Wieser, along with his friend and brother-in-law Eugen von Böhm-Bawerk, disapproved of the policies of interventionism that the Austrian government, as all governments of the time, had adopted, arguing that only the
1643:. Thus, empirical phenomena are considered continuously variable, meaning that social developments have no parameters or constants, only variables, which makes it very difficult, if not impossible, to extract historical laws or make predictions. This point is the epicenter of the methodological discussion between the Austrian School and the
939:), Wieser carefully explains his view of general economic equilibrium. Aware of the idealized assumptions of this economy, he seeks to define with pinpoint accuracy the conditions under which resources would be allocated to ensure the highest possible utility. Social economics should therefore serve as the benchmark for evaluating the
1493:
are assigned by an omnipresent, benevolent planner with direct and accurate insight sufficient to know the intensities of satisfactions and needs experienced by individual members of society, which all have exactly the same tastes and the same scales of utility and receive the same incomes. Moreover,
1044:
maintained that the value of the factors of production is not the individual contribution of each factor in the final product, but rather the value of the most valuable use that can be made of the last good (the marginal utility before reaching the Pareto optimal point). The opposing view held by the
1251:
Thus, if a person has several options, you can calculate the opportunity cost of choosing one, but can we calculate a universal opportunity cost, which would include all the options? The prevailing opinion was that the opportunity cost could not be applied outside of cases of limited resources. This
1247:
The most notable feature of the concept is that opportunity cost would only make sense if the opportunity were fixed or reasonably limited. That is, if there is a conflict in performing multiple investments or actions, simultaneously or consecutively, it would not be feasible to have to choose among
987:
between different social classes so that when income distribution is far from equal, goods or services provided with little social utility can be of great value and vice versa. Therefore, Wieser explicitly states his assumptions considering the cases in which the exchange value (price) differs from
267:
started with his notion of the paramount importance of accurate calculation to economic efficiency. Above all, to him prices represented information about market conditions and are thus necessary for any sort of economic activity. Therefore, a socialist economy would require a price system in order
1559:
and
University of Vienna. In addition, his positions within the Austrian ministries allowed him to adopt more or less liberal economic policies. However, it was his liberal vision that separated him from the British economists of his era, discarding classical and neoclassical idealized models that
1390:
But this broad economy is guided by a single mind. It answers its purpose in an unimpeachable manner because a systematic and penetrating mind guides it. This director foresees ends, weighs them without error or passion and maintains a discipline which ensures that all directions are executed with
1133:
good produced by the factor. In connection with his opportunity cost, the value so derived represents an opportunity cost across all industries, and the values of the factors of production and goods are determined in the whole system. Thus, supply and demand do not develop into the determinants of
975:
This assertion is based on the fact that for Wieser natural value would exist in a perfect communist state due to the absence of inequalities of wealth and error. In this case, value would result only from the available quantity and from profits. However, he states that in the real world natural
714:
Wieser also stressed the importance of the entrepreneur to economic change, which he saw as being caused by "the heroic intervention of individual men who appear as leaders at new economic frontiers". This idea of management was later expounded upon by Joseph Alois
Schumpeter in his treatment of
1734:
stressed Wieser's originality, saying: "There is hardly another author who owes as little to other authors as Wieser, fundamentally to none except Menger and to him only a suggestion – with the result that for a long time many fellow economists did not know what to do with Wieser's work. Of his
1651:
for which the procedure is introspection, claiming similarity between
Economics and sociology in that both attempt to achieve a more successful social reality of man, promoting the idea of utility that reports on each good and each individual. Aside from abandoning essentialism, both Eugen von
1284:, in particular by his study of currency, which discussed both the historical evolution of money and the theory of its value. Wieser used the theory of marginal utility as a basis for his monetary theory. It was initially rejected; in fact, some authors tried to prove that
1652:
Böhm-Bawerk and Wieser advocated objectively considering subjective factors, setting aside ideas that believe in the existence of an objective superhuman (essentialism) and theories of subjective elements that are incapable of objective measures (teleology of causality).
1182:
1109:
and others of the
Austrian School maintained that the value of factors of production is the individual contribution of each in the final product, but its value is the value of the last contributed to the final product (the marginal utility before reaching the point
1352:
Wieser tried to explain the relationships and social forces through the study of history, and he concluded that economic forces held a prominent role in social evolution. Despite his interest in collective goals, such as economic well-being, Wieser adopted an
1252:
led some economists to limit the object of economics to "exceptional" resource situations (an idea still present in all economics textbooks). Still unknown are the consequences that might follow from an economic science that has no fixed limits outside of the
1101:
on the assumption that factors of production are combined in fixed proportions in each industry, but at different rates in different industries. It was one of the first mathematical solutions to the problem of determining the prices of factors of production.
1128:
Given that a factor is used in the production of a range of first-order goods, its value is determined by the good that is worth the least among all the goods in the range. This value is determined at the margin, the marginal utility of the last unit of the
272:
to economic change, which he saw as being brought about by "the heroic intervention of individual men who appear as leaders toward new economic shores". This idea of leadership was later taken up by Joseph
Schumpeter in his treatment of economic innovation.
1144:, which deals with the case of discontinuous replacement of the factors. This approach is essentially the application of Wieser's theory of imputation to a single company. The business problem is to maximize total output by a set of linear constraints.
484:. In his last 25 years, he dedicated himself to sociology, which he believed must go hand-in-hand with economics for the fullest understanding of human society. By combining these disciplines, he was able to forge a new vision of economic policy.
1243:. In this context, the Austrian concept of opportunity cost claimed to ruin the British parametric concept of cost. The opportunity cost would be that which the purchaser would willingly forgo in agreeing to pay the cost of the option chosen.
1391:
the utmost precision and skill and without loss of energy. We shall further assume that all requisite individual forces are placed at the disposal of this social management as cheerfully as though enlisted in their individual interest.
1270:
Wieser gave shape to the theory that marked the beginning of the distinction between accounting cost ("the cost of production") and economic cost ("the cost of production" + the opportunity cost of not being able to obtain
1411:
For Wieser, the individual is the root of all decisions. Decisions are made in the face of certain restrictions. Institutions are what define the restrictions on individual decisions. The reflection of these findings in
1239:, as this would determine the level of production, depending on the willingness of buyers to pay that cost. Since demand is dependent upon the action of buyers, utility would determine a thing's cost rather than
1016:. The economy provides luxury to the capricious and greedy, while it is deaf to the needs of the miserable and poor. It is therefore the distribution of wealth that decides what will be produced, and leads to a
1520:(new liberalism). In this book, Mises uses the term to designate socialists posing as liberals (a term he later replaced with "pseudoliberals"), leaving in Mises's view Wieser under this definition for being a
1554:
Wieser believed that he could contribute to a return to liberal policies, both by explaining his economic vision in his books and articles as well as by teaching it in his role as university professor at the
1223:
were opposed to the continental economists of the
Austrian School, the head of which was Friedrich von Wieser, with his theory of alternative or opportunity cost. The debate focused on the following points:
189:, the son of Privy Councillor Leopold von Wieser, a high official in the war ministry, he first trained in sociology and law. In 1872, the year he took his degree, he encountered Austrian-school founder
2689:
1438:
by means of progressive taxation, but rather progressive taxation should be developed within the doctrine of diminishing marginal utility, i.e. every new tax adds a certain diminishing amount of
2682:
879:
and states that the factors of production have a value due to the utility they have conferred on the final product, i.e. marginal utility, as opposed to the theory held by his teacher
199:
and switched his interest to economic theory. Wieser held posts at the universities of Vienna and Prague until succeeding Menger in Vienna in 1903, where along with his brother-in-law
1003:
Disparity in the purchasing power of consumers leads to over-produced goods to meet the needs of persons with high ability to pay, and too few goods to meet the needs of poor people.
280:, writing that "freedom has to be superseded by a system of order". This vision and his general solution to the role of the individual in history is best expressed in his final book
883:
which states that the value factor is the value of the input when contributed to the final product. Wieser's value theory was presented along with his imputation theory in his work
540:(1978) that Wieser had misunderstood the gist of the subjectivism of the Austrian School and was actually a member of the Lausanne School. However, in both he also presents a clear
2642:
719:, introducing an objective calculation to a subjective theory. It was one of the first mathematical solutions to the problem of determining prices for factors of production. His
800:. Wieser claimed that idealized refined and self-contained models may not be useful tools for economic policy, resulting therefore in a suboptimal solution. In his treatise
652:
31:
992:
Antinomy of value. If monopolies arise then the individual entrepreneur will be able to increase his own utility at the expense of social utility, thus creating a state of
761:
Wieser thus perfected the theory of Carl Menger by introducing a definition of cost, the opportunity cost, compatible with the theory of marginal utility. He also used
1074:
Established assumptions concerning intervention, explicitly considering cases where the exchange value (price) differs from the actual value (marginal utility).
976:
value is only one element in the formation of price. Other factors that influence prices are the distribution of purchasing power, errors, fraud and coercion.
536:. This has led some scholars to not consider his later works as belonging to the Austrian School. Even his disciple Ludwig von Mises said in his autobiography
2978:
2263:
857:
and the imputation theory, although both had had their geneses in previous studies. Adding to his contribution was also the theory originally known as the
2086:
1301:
Wieser conducted a further study on the effects of change in a currency's value on the relationship between the natural economy and the monetary economy.
2696:
1456:
Intervening in the balance of social power between companies and unions for the benefit of workers, who could otherwise only hope to earn their marginal
2648:
337:, Wieser's senior by 11 years. Although neither Wieser nor Böhm-Bawerk studied under Menger directly, they were greatly influenced by reading Menger's
347:) (1871), which was the work that had initially inspired the two men to study political economy. The three are considered the first generation of the
2240:"Joseph T. Salerno, Friedrich von Wieser and Friedich A. Hayek: The General Equilibrium Tradition in Austrian Economics, Pace University, New York"
1539:
and Wieser began their careers in science, they were not focused on economic policy issues, much less in the rejection of intervention promoted by
480:. He developed a monetary theory inspired by the research of Carl Menger and he applied himself during the following years to the problems of the
578:
1464:
These conditions, under which resources would be allocated to ensure the greatest value, describe his model of an ideal economy, which he calls
1848:
1020:
of a more anti-economic variety: a consumer wastes on unnecessary, guilty enjoyment that which could have served to heal the wounds of poverty.
1378:) treats humanity as a whole as an ideal economic subject and contrasts it with nature, so that considerations of conflicting interests or
1166:
and are necessary for any economic activity. A socialist system that purported to be effective would have to use a price system to operate.
3536:
3526:
3292:
2203:
2122:
1442:. Thus, an unconscionable progressive tax, for example on the wealthy, would violate the spirit of privacy of Wieser's social economics.
615:
Wieser died on 22 July 1926 in
Salzburg, where he is buried. Two of his hitherto unpublished works were published posthumously, namely
769:
presenting a study of possible influences on monetary value that can change the relationships between natural and monetary economics.
3541:
3531:
2971:
3556:
3521:
1449:. Wieser created the distinction between public goods and private goods that in the future would be seized upon by his disciple
3101:
2626:
2503:
1802:
497:) which preceded yet another major contribution, alternative cost (or opportunity cost) theory, which was drawn from his study
215:
in the late 1890s and early 20th century. He was the
Austrian Minister of Commerce from August 30, 1917, to November 11, 1918.
2330:
292:
Born in Vienna on 10 July 1851, Wieser spent his childhood and adolescence in the same city. He was interested since youth in
3516:
3566:
3410:
2964:
1349:), published in 1926, was his latest publication, a great sociological study from which we draw the following conclusions.
1219:
Opportunity cost is associated with a famous controversy from the early 20th century, where disciples of
English economist
772:
Wieser's most important contributions is that thanks to his familiarity with sociology he combined the
Austrian theory of
3546:
260:
as a "natural category" that would pertain to any society, no matter what institutions of property had been established.
3380:
2940:
551:
In 1914, Eugen Böhm von Bawerk died, thus marking the end of a lifelong friendship and striking a hard blow to Wieser.
2431:
457:: "Die österreichische Schule der Wirtschaft" ("The Austrian School of Economics") and "Böhm-Bawerk", both in 1884.
3561:
3445:
1852:
344:
195:
955:
to be a social test of value . Many theorists have written their own Communist theory of value without knowing it.
2945:
1556:
1008:
Instead of the things that would be more useful, there are things that pay better. The greater the difference in
2267:
1697:, etc.), can be used, but are regarded as a dependent part of the surname, and thus come after any given names (
1192:
The alternative cost theory (or opportunity cost theory) is a theory of enormous importance that comes from his
3116:
2090:
1644:
1358:
701:
subsequently used by Friedrich August von Hayek and eight of his disciples, and with developing the concept of
545:
410:
and from which are derived two of his major contributions: his value theory and the related imputation theory.
256:'s "final degree of utility" or Menger's "value". His use of the modifier "natural" indicates that he regarded
1528:, he applies the neoliberal label to liberal supporters of the then new subjective theory of value, including
3435:
3230:
3141:
3079:
1735:
edifice, everything is his intellectual property, even where what he says has already been said before him".
1185:
Wieser is remembered chiefly for the imputation theory, the alternative (or opportunity) cost theory and his
893:, published in Vienna in 1889, although his examination of the subject begins in his 1884 postdoctoral study
3225:
1331:
In his later years, Wieser ventured into the study of Sociology, and this resulted in his 1914 publication,
635:) in 1929. This latter book included a tribute resulting from the collaboration of renowned economists like
325:
After ten years of public service as a government employee, Wieser was awarded in 1875 a scholarship to the
3385:
3338:
3006:
1679:. Before the August 1919 abolition of nobility as a legal class, titles preceded the full name when given (
1292:
studied Wieser's theory and fleshed it out, creating the complex upon which he built the German concept of
541:
1703:). Titles and all dependent parts of surnames are ignored in alphabetical sorting. The feminine forms are
573:. He was also appointed Minister of Commerce in the Austrian Cabinet, which post he held until the end of
3440:
3355:
3328:
3215:
3146:
3069:
2987:
2288:
2013:
1322:
Provided a basis for a further and still relevant study of monetary theory by his pupil Ludwig von Mises.
264:
257:
1982:
The National tax services and the state budget in the kingdom of Bohemia: Response to the considerations
3360:
3348:
693:) in which he coined the term "opportunity cost". He is credited with the economic distinction between
566:
2904:
2176:"Enciclopedía y Biblioteca Virtual de Ciencias Sociales, Económicas y Jurídicas, Biografía de Wieser"
1977:
Die nationale Steuerleistung und der Landeshaushalt im Königreiche Böhmen: Antwort auf die Erwägungen
554:
715:
economic innovation. Value theory was revolutionary because it opened the debate on the question of
3551:
3365:
3282:
3220:
3001:
1309:
1071:
Was revolutionary because it provided a new insight into the debate on the issue of economic value.
821:
582:
481:
169:
2763:
1989:
1536:
359:
330:
200:
149:
3470:
3390:
3287:
3277:
3265:
3255:
3028:
1446:
1430:
based on decreasing marginal utility. The state should not try to offset all the inequalities of
694:
81:
2854:
2550:
2395:
3270:
3240:
3208:
3151:
3061:
1647:. In what little Wieser wrote about methodology, he stated that economics is a kind of applied
1013:
1000:
can correct this because it reduces the entrepreneurs economic power and forces prices to fall.
984:
789:
392:
383:), a prelude to his value theory, Wieser was named that same year as an associate professor at
253:
227:
1828:
1478:). He made idealized assumptions using his model as the benchmark standard for evaluating the
3395:
3343:
3318:
3126:
3106:
2730:
2725:
2207:
2119:
1054:
407:
326:
832:
387:
in Prague, where he stayed until 1903 when he succeeded Menger at the University of Vienna.
3511:
3506:
3480:
3460:
3400:
3235:
3183:
2456:
1540:
1427:
853:), published in Vienna in 1889, are extracted two of Wieser's three relevant theories, his
720:
559:
465:
305:
277:
127:
1560:
did not contemplate the possibility of monopolies or the existence of economies of scale:
1319:
and conducted a useful study on one specific type of possible influence on monetary value.
1288:
necessarily failed when used as a basis for building such theories. However, his disciple
333:, a friend from his youth who later became his brother-in-law. Both men were disciples of
8:
3465:
3260:
3193:
3163:
3089:
3084:
3051:
2884:
2747:
2740:
2720:
1788:, 1893, translated by Christian A. Malloch, edited with an introduction by William Smart.
1673:
was a title before 1919, but now is regarded as part of the surname. It is translated as
1612:
1608:
1421:
1046:
785:
2358:
1884:
1765:
1746:
1502:
When labeling Wieser a "neoliberal", particular emphasis is placed on the definition of
3245:
3188:
2844:
2829:
2175:
1236:
1163:
1141:
797:
731:
in consumer research to calculate the systematic replacement of factors of production.
548:, so at first blush it is difficult to justify his exclusion from the Austrian School.
384:
2526:
396:(ordinary professor) at the Charles University. That same year, he also published his
3455:
3375:
3313:
3306:
3136:
2914:
2735:
1915:
1731:
1604:
1600:
1413:
473:
358:
The two most influential figures in Wieser's life were his friend and brother-in-law
309:
212:
2500:
2480:
2239:
1946:
951:, have tacitly made the same abstraction. In particular, the opinions that consider
284:, a sociological examination of political order published in his last year of life.
3323:
2879:
2814:
2778:
2659:
An Introduction to the Value Theory on the Lines of Menger, Wieser, and Böhm-Bawerk
2616:
2334:
1636:
1521:
1503:
1490:
1439:
1379:
1366:
1289:
1257:
1213:
1176:
1065:
867:(Theory of Social Economy). Finally, also worth mentioning is his monetary theory.
781:
702:
656:
515:
508:
469:
235:
223:
204:
2574:
1827:, 1983, translated by W.E. Kuhn, edited with an introduction by Warren J. Samuels
929:), which implies certain institutional actions. In the first part of his treatise
750:, Wieser created the concepts of marginal utility and opportunity cost, which led
3485:
3405:
3250:
3198:
3156:
3074:
2924:
2909:
2889:
2864:
2799:
2768:
2705:
2637:
2507:
2126:
1807:, 1927, translated by A. Ford Hinrichs, with a preface by Wesley Clair Mitchell.
1494:
their directions are followed without question by a completely docile workforce.
1450:
1383:
1316:
1253:
1220:
1162:). This work states that prices provide key information on the conditions of the
1147:
1041:
948:
747:
743:
533:
529:
477:
348:
313:
208:
178:
117:
113:
59:
2204:"Die Österreichische nationalökonomische Schule, Lektorat Mag. Ines Wakolbinger"
2899:
2859:
2849:
2824:
2665:
2306:
1420:
The regulation of imperfectly competitive firms whenever there are benefits of
1137:
The following can be considered applications of Wieser's theory of imputation:
1111:
1085:
876:
728:
716:
234:(1914), an ambitious attempt to apply it to the real world. His explanation of
2956:
525:
413:
Motivated by introducing the innovations of the Austrian School, he published
3500:
3415:
3370:
3333:
3121:
3011:
2894:
2874:
2834:
2809:
2633:
1808:
1620:
1616:
1511:
1479:
636:
2674:
2621:
1886:
Die währungsfrage und die zukunft der österreichischungarischen valutareform
1280:
Wieser also developed a monetary theory. It was inspired by the research of
245:
3096:
3041:
2919:
2869:
2839:
2819:
2804:
2669:
2575:"UCM, Elena García Martínez. Acceso a doctorado: La Tradición en F.A.Hayek"
1592:
1568:
1457:
1202:), published in 1914, although his arguments were foreshadowed in his work
698:
640:
586:
370:
269:
173:; 10 July 1851 – 22 July 1926) was an early (so-called "first generation")
3131:
3046:
2773:
2527:
Social Economics by Freidrich von Weiser, translated by A. Ford Hindrichs
1624:
1544:
1529:
1285:
1281:
1106:
997:
880:
861:(now called the opportunity cost theory), which was published in 1914 in
817:
762:
724:
574:
363:
334:
190:
145:
1341:), from which is derived his theory of alternative cost or opportunity.
919:
deals with a social process and therefore must be based on a concept of
3301:
3203:
3036:
2598:
New Studies in Philosophy, Politics, Economics and the History of Ideas
1864:
1648:
1548:
1362:
1354:
1240:
1050:
751:
461:
77:
1564:
776:
with an evolutionary theory of institutions offering solutions to the
3450:
2436:, Friedrich von Wieser: Biography Theory, 2009. Retrieved 2 May 2011"
2408:
2143:
1596:
1486:
1151:
875:
Wieser's value theory attempts to establish a method for calculating
735:
301:
182:
174:
896:Über den Ursprung und die Hauptgesetze wirthschaftlichen des Werther
742:(now called the opportunity cost theory), which had been ignored by
376:Über den Ursprung und die Hauptgesetze des wirthschaftlichen Werthes
3475:
3111:
2657:
1748:Über den Ursprung und die Hauptgesetze des wirtschaftlichen Werthes
1706:
1667:
1435:
1229:
1084:
Still relevant today, especially in the field of study of consumer
1017:
993:
980:
940:
793:
755:
133:
1860:
1783:
433:) in 1892. Later, he collaborated in other notable works, such as
1640:
1078:
916:
777:
773:
507:), published in 1914. It was here that he first coined the term "
354:
297:
92:
1934:
Das Wesen und der Hauptinhalt der theoretischen Nationalökonomie
1205:
Das Wesen und der Hauptinhalt der theoretischen Nationalokonomie
824:
in certain cases as a benchmark to assess policy effectiveness.
490:
Das Wesen und der Hauptinhalt der theoretischen Nationalokonomie
252:) that developed into the standard term "marginal utility", not
238:
theory was decisive, at least terminologically. It was his term
2652:
1714:
1431:
1009:
979:
His idea of natural value highlights how the economic value of
460:
In 1903, Wieser was awarded a chair as a full professor at his
203:
he shaped the next generation of Austrian economists including
186:
55:
1685:). Since 1919, these titles, along with any nobiliary prefix (
495:
The Nature and Content of Theoretical Economics Major National
276:
Unlike most other Austrian School economists, Wieser rejected
2359:"Samuel Bostaph, Wieser Economic Calculation Under Socialism"
1675:
1628:
952:
570:
2307:"The Historical Setting of the Austrian School of Economics"
2289:"The Historical Setting of the Austrian School of Economics"
901:
On the Origin and the Principal Laws of the Value of Factors
784:
and the maximization of utility. Wieser said that idealized
723:
theory amended possible errors in the theory of his teacher
468:, where he taught a new generation of economists, including
453:) in 1909. He also served as editor for two articles in the
585:, leaving only matters of secondary importance to Wieser's
381:
On the Origin and the Main Laws of the Value of the Factors
2409:"Juan Carlos Cachanosky. La Escuela Austriaca de Economía"
1210:
The Nature and Main Content of Theoretical State Economics
651:
30:
2144:"Juan Carlos Cachanosky La Escuela Austriaca de Economía"
1939:
The essence and the main content of theoretical economics
1365:
stance and establishing the essential difference between
1181:
1134:
value; the determinant of value is the marginal utility.
792:
models neglect basic concepts such as the possibility of
293:
436:
Die Wiederaufnahme Barzahlungen der in Österreich-Ungarn
1124:
Industry 3: 4Y + 3Z = 1700 ⇒ X = 100, Y = 200, Z = 300.
1482:
of administrative intervention in the market economy.
943:
of administrative intervention in the market economy:
406:), with which he initiated the debate on the value of
1382:
become as irrelevant as they would to the economy of
625:) in 1927, which summarizes his monetary theory; and
514:
Also attributed to him is the creation of the term "
1489:economy in which, to achieve greater productivity,
1228:For the English, cost was a technical concept, the
268:to operate. He also stressed the importance of the
2569:
2567:
2475:
2473:
2545:
2543:
2536:
2534:
2457:"Biografías y Vida. Biografía de Albert Aftalion"
2391:
2389:
2387:
2385:
2383:
2381:
2379:
2377:
2353:
2351:
2234:
2232:
2230:
2228:
2226:
2224:
2198:
2196:
2194:
2192:
2170:
2168:
2166:
2164:
2162:
2138:
2136:
2134:
1603:of the German historicist school, he developed a
1216:" and performed a detailed study of the subject.
734:Another of Wieser's fundamental contributions to
441:Resumption of payments species in Austria-Hungary
3498:
2434:Scarlett: History of Economic Theory and Thought
2115:
2113:
2111:
2109:
2107:
2081:
2079:
2077:
1837:Die österreichische Schule und die Werth Theorie
1497:
1485:Thus Wieser's Social Economics is, in effect, a
2986:
2564:
2470:
2299:
577:in 1918. However, his activity was hindered by
416:Die österreichische Schule und die Theorie Wert
2540:
2531:
2374:
2348:
2323:
2221:
2189:
2159:
2131:
1212:), published in 1911. Wieser coined the term "
2972:
2704:
2690:
2104:
2074:
2052:
1994:(in German). Wien: Verlag von Julius Springer
1315:It provided a new monetary theory within the
810:), he posited the concept of social economy (
746:and British economists. Based on the work of
680:Alternative Cost (or Opportunity Cost) Theory
2627:Biography in the History of Economic Thought
2520:
1975:
1963:
1932:
1901:
1870:
1835:
1815:
1793:
1712:
1704:
1698:
1692:
1686:
1680:
1665:
1577:
1515:
1469:
1397:
1373:
1332:
1293:
1203:
1193:
1160:The Foundations of Socialism: Critical Study
1156:Les fondements du Socialisme: Étude critique
1026:
961:
930:
924:
907:
894:
884:
862:
858:
844:
811:
801:
706:
684:
679:
668:
626:
616:
603:
593:
519:
498:
488:
444:
434:
424:
414:
397:
374:
338:
317:
308:beginning in 1868. His lifelong passion for
239:
2035:, 1951, Appendix 2, p. 298, reprinted from
1920:(in German). Leipzig: Duncker & Humblot
1849:The Austrian School and the Theory of Value
1514:" to translate what Mises called in German
1468:in the first part of his treatise entitled
1308:It was later applied to the problem of the
1081:of private property and maximizing utility.
663:Wieser's most famous contributions are the
421:The Austrian School and the Theory of Value
2979:
2965:
2697:
2683:
1304:There are practical applications such as:
1267:Wieser coined the term "opportunity cost".
1263:There are practical applications such as:
1170:
1060:There are practical applications such as:
602:) in 1923 and a sociological study titled
565:In 1917, Wieser was named a member of the
322:(Introduction to the Study of Sociology).
29:
2522:Theorie der gesellschaftlichen Wirtschaft
2424:
2331:"Web Reserva Federal del Banco de Dallas"
2120:Der Österreichische Wissenschaftskalender
2087:"Enciclopledia GEA, F.V.W.,Piero Barucci"
1795:Theorie der gesellschaftlichen Wirtschaft
1579:Theorie der gesellschaftlichen Wirtschaft
1471:Theorie der gesellschaftlichen Wirtschaft
1399:Theorie der gesellschaftlichen Wirtschaft
1334:Theorie der gesellschaftlichen Wirtschaft
1195:Theorie der gesellschaftlichen Wirtschaft
1012:, the more striking are the anomalies of
932:Theorie der gesellschaftlichen Wirtschaft
765:'s monetary theory from which he devised
686:Theorie der gesellschaftlichen Wirtschaft
581:, Energy Minister and clear proponent of
500:Theorie der gesellschaftlichen Wirtschaft
329:in order to study political economy with
2033:Ten Great Economists From Marx to Keynes
1842:The Austrian School and the Value Theory
1599:version of causality. As opposed to the
1506:. The English edition of his 1927 book,
1372:Social economy (in the original German,
1235:For the Austrians, cost was a result of
1180:
947:Most theorists, especially those of the
864:gesellschaftliche Theorie der Wirtschaft
831:
803:Theorie der Wirtschaft gesellschaftliche
758:and the allocation of scarce resources.
650:
553:
353:
319:Einleitung in das Studium der Soziologie
1150:used the theory as an argument against
218:Wieser is renowned for two main works,
3499:
2613:Works by or about Friedrich von Wieser
2481:"Friedrich von Wieser: Información de"
1987:
1944:
1913:
1903:Die Theorie der städtischen Grundrente
1882:
1763:
1744:
664:
544:and a rejection of historicism of the
3142:Marxian critique of political economy
2960:
2678:
2551:"Econlink. Escuela austríaca: Wieser"
2057:. Translated by Christian A. Malcolm.
1445:The duty of the state as producer of
920:
446:Die Theorie der städtische Grundrente
168:
2622:Article on Wieser's political career
2513:
1369:in general and socialist economics.
1186:
1105:Previously, some economists such as
1092:
827:
766:
340:Grundsätze der Volkswirtschaftslehre
1326:
1077:Tried to provide a solution to the
988:the real value (marginal utility):
906:Wieser asserts that natural value (
13:
3537:20th-century Austrian male writers
3527:19th-century Austrian male writers
2941:List of Austrian-school economists
2039:, vol. xxxvii, no. 146, June 1927.
1965:Das geschichtliche Werk der Gewalt
1567:has to be replaced by a system of
1275:
595:Das geschichtliche Werk der Gewalt
524:) due largely to the influence of
14:
3578:
2606:
2089:. Canalsocial.net. Archived from
1551:economic and social development.
854:
3542:20th-century Austrian economists
3532:19th-century Austrian economists
3446:History of macroeconomic thought
3271:Neoclassical–Keynesian synthesis
1859:
1416:is apparent in actions such as:
1068:" and gave shape to the concept.
455:Palgrave Dictionary of Economics
369:After a successful postdoctoral
3557:Government ministers of Austria
3522:Economists from Austria-Hungary
2946:The Use of Knowledge in Society
2590:
2494:
2449:
2401:
2396:Econlink – La Escuela Austríaca
2333:. Dallasfed.org. Archived from
2281:
2256:
1917:Recht und Macht, sechs Vorträge
1908:The Theory of Urban Ground Rent
1357:approach, explicitly rejecting
870:
646:
476:and his most faithful disciple
312:was first ignited when he read
2069:Great Economists Before Keynes
2061:
2042:
2025:
1914:Wieser, Friedrich von (1910).
1657:
222:, which carefully details the
16:Austrian economist (1851–1926)
1:
3436:Critique of political economy
2662:, William Smart (1891, 1910).
1951:(in German). Berlin: Ullstein
1889:(in German). Wien: F. Tempsky
1700:Helmuth James Graf von Moltke
1682:Graf Helmuth James von Moltke
1498:Wieser and the new liberalism
754:to the study and analysis of
639:, but it was censored during
162:Friedrich Freiherr von Wieser
3517:Writers from Austria-Hungary
3344:Rational expectations theory
1770:(in German). Wien: A. Hölder
1751:(in German). Wien: A. Hölder
1375:Gesellschaftliche Wirtschaft
1256:in terms of availability of
1232:needed to produce something.
926:gesellschaftliche Wirtschaft
813:gesellschaftliche Wirtschaft
542:methodological individualism
287:
7:
3567:University of Vienna alumni
3441:History of economic thought
2988:Schools of economic thought
2125:September 19, 2009, at the
2053:William Smart, ed. (1893).
2014:List of Austrian scientists
2007:
1591:Wieser did not acknowledge
727:and is still used today in
265:economic calculation debate
226:doctrine and the theory of
10:
3583:
3547:Austrian School economists
3361:New neoclassical synthesis
3349:Real business-cycle theory
1988:Wieser, Friedrich (1926).
1970:The History of State Power
1945:Wieser, Friedrich (1919).
1883:Wieser, Friedrich (1894).
1764:Wieser, Friedrich (1889).
1745:Wieser, Friedrich (1884).
1663:Regarding personal names:
1635:character rather than the
1476:Theory of Social Economics
1174:
937:Theory of Social Economics
600:The History of State Power
451:Theory of urban land rents
390:In 1889, Wieser was named
3428:
3172:
3060:
3027:
3020:
2994:
2933:
2905:Richard Ritter von Strigl
2792:
2756:
2713:
2501:CEPA Friedrich von Wieser
2264:"Enciklopedya wikivx.biz"
1726:
1524:. Also in his later book
1121:Industry 2: 6X + Z = 900
1118:Industry 1: X + Y = 300
983:changes depending on the
683:drawn from his 1914 work
667:drawn from his 1889 work
655:Wieser coined the terms "
569:and granted the title of
155:
141:
123:
107:
102:
98:
88:
66:
37:
28:
21:
2019:
1738:
1584:Theory of Social Economy
1339:Theory of Social Economy
1310:quantity theory of money
1200:Theory of Social Economy
996:. Friedrich argues that
808:Theory of Social Economy
659:" and "opportunity cost"
583:economic interventionism
505:Theory of Social Economy
482:quantity theory of money
304:. He studied law at the
3562:Politicians from Vienna
3471:Post-autistic economics
2643:considered for deletion
1623:). Economics has, like
1171:Alternative cost theory
1040:Some economists of the
859:alternative cost theory
767:his own monetary theory
740:alternative cost theory
628:Gesammelte Abhandlungen
567:Austrian House of Lords
345:Principles of Economics
3209:Modern Monetary Theory
2521:
2519:Friedrich von Wieser,
2506:April 2, 2003, at the
2459:. Biografiasyvidas.com
2438:. Economictheories.org
2031:Joseph A. Schumpeter,
1976:
1964:
1933:
1902:
1871:
1836:
1816:
1794:
1713:
1705:
1699:
1693:
1687:
1681:
1666:
1589:
1578:
1576:Friedrich von Wieser,
1516:
1470:
1409:
1398:
1396:Friedrich von Wieser,
1374:
1333:
1294:
1248:all the alternatives.
1204:
1194:
1189:
1038:
1027:
1025:Friedrich von Wieser,
985:distribution of income
973:
962:
960:Friedrich von Wieser,
931:
925:
908:
895:
885:
863:
845:
840:
812:
802:
707:
685:
669:
660:
627:
617:
604:
594:
562:
520:
499:
489:
487:In 1911, he published
445:
435:
425:
415:
398:
393:ordentlicher Professor
375:
366:
339:
318:
254:William Stanley Jevons
240:
3293:Keynes–Marx synthesis
2764:Eugen von Böhm-Bawerk
2726:French liberal school
1823:English translation:
1801:English translation:
1782:English Translation:
1611:slope as well as its
1562:
1537:Eugen von Böhm-Bawerk
1388:
1361:, approaching a more
1184:
1055:labor theory of value
1006:
945:
835:
796:and the existence of
654:
557:
408:factors of production
360:Eugen Böhm von Bawerk
357:
331:Eugen Böhm von Bawerk
327:Heidelberg University
201:Eugen von Böhm-Bawerk
150:Eugen von Böhm-Bawerk
3481:World-systems theory
3461:Mainstream economics
3401:Technocracy movement
3381:Saltwater/freshwater
2855:Jesús Huerta de Soto
2784:Friedrich von Wieser
2666:Friedrich von Wieser
2649:Friedrich von Wieser
2049:Der Natürliche Werth
2037:The Economic Journal
1991:Das Gesetz Der Macht
1854:The Economic Journal
1817:Das Gesetz der Macht
1767:Der natürliche Werth
1557:University of Prague
1541:classical liberalism
1428:Progressive taxation
1424:that are being lost.
1343:Das Gesetz der Macht
1099:theory of imputation
1047:classical economists
1028:Der Natürliche Werth
963:Der Natürliche Werth
886:Der natürliche Werth
846:Der natürliche Werth
837:Der natürliche Werth
670:Der natürliche Werth
605:Das Gesetz der Macht
592:His last works were
560:University of Vienna
466:University of Vienna
399:Der natürliche Werth
306:University of Vienna
278:classical liberalism
128:University of Vienna
23:Friedrich von Wieser
3466:Heterodox economics
3194:Capability approach
3070:American (National)
3052:School of Salamanca
2885:William H. Peterson
2748:School of Salamanca
2741:Gustave de Molinari
2721:Classical economics
3102:English historical
2845:Hans-Hermann Hoppe
2830:Gottfried Haberler
2793:Other contributors
2270:on August 10, 2011
1535:When Carl Menger,
1517:neuer Liberalismus
1190:
1142:Linear programming
841:
798:economies of scale
661:
563:
385:Charles University
367:
3494:
3493:
3456:Political economy
3424:
3423:
3356:New institutional
3329:Neo-Schumpeterian
3137:Marxist economics
3117:German historical
2954:
2953:
2736:Jean-Baptiste Say
2553:. Econlink.com.ar
1732:Joseph Schumpeter
1601:historical method
1547:could allow more
1510:, uses the term "
1414:political economy
1154:in his 1923 work
1097:Wieser based his
1093:Imputation theory
1064:Coined the term "
1033:The Natural Value
828:Economic theories
665:imputation theory
474:Joseph Schumpeter
310:political economy
213:Joseph Schumpeter
159:
158:
137:
3574:
3486:Economic systems
3025:
3024:
3007:Medieval Islamic
2981:
2974:
2967:
2958:
2957:
2815:Thomas DiLorenzo
2779:Ludwig von Mises
2731:Frédéric Bastiat
2699:
2692:
2685:
2676:
2675:
2646:
2617:Internet Archive
2601:
2594:
2588:
2587:
2585:
2584:
2579:
2571:
2562:
2561:
2559:
2558:
2547:
2538:
2529:
2524:
2517:
2511:
2498:
2492:
2491:
2489:
2488:
2477:
2468:
2467:
2465:
2464:
2453:
2447:
2446:
2444:
2443:
2428:
2422:
2421:
2419:
2418:
2413:
2405:
2399:
2393:
2372:
2371:
2369:
2368:
2363:
2355:
2346:
2345:
2343:
2342:
2327:
2321:
2320:
2318:
2317:
2311:
2303:
2297:
2296:
2295:. July 25, 2007.
2285:
2279:
2278:
2276:
2275:
2266:. Archived from
2260:
2254:
2253:
2251:
2250:
2244:
2236:
2219:
2218:
2216:
2215:
2206:. Archived from
2200:
2187:
2186:
2184:
2183:
2172:
2157:
2156:
2154:
2153:
2148:
2140:
2129:
2117:
2102:
2101:
2099:
2098:
2083:
2072:
2065:
2059:
2058:
2046:
2040:
2029:
2003:
2001:
1999:
1979:
1967:
1960:
1958:
1956:
1948:Österreichs Ende
1936:
1929:
1927:
1925:
1905:
1898:
1896:
1894:
1877:The Value Theory
1874:
1872:Die Wert Theorie
1863:
1839:
1825:The Law of Power
1819:
1804:Social Economics
1797:
1779:
1777:
1775:
1760:
1758:
1756:
1720:
1718:
1710:
1702:
1696:
1690:
1684:
1671:
1661:
1607:, with both its
1587:
1581:
1522:Fabian socialist
1519:
1504:Ludwig von Mises
1491:scarce resources
1473:
1466:social economics
1407:
1404:Social Economics
1401:
1380:economic justice
1377:
1367:social economics
1347:The Law of Power
1336:
1327:Social economics
1297:
1290:Ludwig von Mises
1214:opportunity cost
1207:
1197:
1177:Opportunity Cost
1066:marginal utility
1036:
1030:
971:
965:
934:
928:
921:social economics
911:
898:
888:
866:
848:
815:
805:
782:private property
710:
703:marginal utility
691:Social Economics
688:
672:
657:marginal utility
633:Collected Papers
630:
620:
610:The Law of Power
607:
597:
558:Monument at the
523:
516:marginal utility
509:opportunity cost
502:
492:
470:Ludwig von Mises
448:
438:
431:The Value Theory
428:
426:Die Wert Theorie
418:
401:
378:
362:and his teacher
342:
321:
282:The Law of Power
243:
236:marginal utility
232:Social Economics
224:alternative-cost
205:Ludwig von Mises
172:
170:[ˈviːzɐ]
167:
131:
73:
51:
49:
42:Friedrich Wieser
33:
19:
18:
3582:
3581:
3577:
3576:
3575:
3573:
3572:
3571:
3552:Austrian barons
3497:
3496:
3495:
3490:
3420:
3406:Thermoeconomics
3177:21st centuries)
3176:
3174:
3168:
3056:
3016:
3002:Ancient schools
2990:
2985:
2955:
2950:
2929:
2925:Gerhard Tintner
2910:Murray Rothbard
2890:David Prychitko
2865:Ludwig Lachmann
2800:Bruce L. Benson
2788:
2769:Friedrich Hayek
2752:
2709:
2706:Austrian school
2703:
2631:
2609:
2604:
2595:
2591:
2582:
2580:
2577:
2573:
2572:
2565:
2556:
2554:
2549:
2548:
2541:
2532:
2518:
2514:
2508:Wayback Machine
2499:
2495:
2486:
2484:
2479:
2478:
2471:
2462:
2460:
2455:
2454:
2450:
2441:
2439:
2430:
2429:
2425:
2416:
2414:
2411:
2407:
2406:
2402:
2394:
2375:
2366:
2364:
2361:
2357:
2356:
2349:
2340:
2338:
2329:
2328:
2324:
2315:
2313:
2309:
2305:
2304:
2300:
2293:Mises Institute
2287:
2286:
2282:
2273:
2271:
2262:
2261:
2257:
2248:
2246:
2242:
2238:
2237:
2222:
2213:
2211:
2202:
2201:
2190:
2181:
2179:
2174:
2173:
2160:
2151:
2149:
2146:
2142:
2141:
2132:
2127:Wayback Machine
2118:
2105:
2096:
2094:
2085:
2084:
2075:
2071:, 1986, p. 280.
2066:
2062:
2047:
2043:
2030:
2026:
2022:
2010:
1997:
1995:
1954:
1952:
1923:
1921:
1892:
1890:
1773:
1771:
1754:
1752:
1741:
1729:
1724:
1723:
1662:
1658:
1588:
1575:
1500:
1451:Friedrich Hayek
1408:
1395:
1384:Robinson Crusoe
1329:
1317:Austrian School
1278:
1276:Monetary theory
1254:economic system
1221:Alfred Marshall
1187:monetary theory
1179:
1173:
1148:Albert Aftalion
1095:
1042:Austrian School
1037:
1024:
972:
959:
949:Austrian School
909:natürliche Wert
873:
830:
748:Vilfredo Pareto
744:Alfred Marshall
649:
534:Lausanne School
530:Vilfredo Pareto
478:Friedrich Hayek
349:Austrian School
314:Herbert Spencer
290:
209:Friedrich Hayek
179:Austrian School
165:
148:
130:
124:Alma mater
118:Lausanne School
116:
114:Austrian School
109:
103:Academic career
84:
75:
71:
62:
60:Austrian Empire
53:
47:
45:
44:
43:
24:
17:
12:
11:
5:
3580:
3570:
3569:
3564:
3559:
3554:
3549:
3544:
3539:
3534:
3529:
3524:
3519:
3514:
3509:
3492:
3491:
3489:
3488:
3483:
3478:
3473:
3468:
3463:
3458:
3453:
3448:
3443:
3438:
3432:
3430:
3426:
3425:
3422:
3421:
3419:
3418:
3413:
3408:
3403:
3398:
3393:
3388:
3383:
3378:
3373:
3368:
3366:Organizational
3363:
3358:
3353:
3352:
3351:
3346:
3336:
3331:
3326:
3321:
3316:
3314:Neo-Malthusian
3311:
3310:
3309:
3299:
3298:
3297:
3296:
3295:
3290:
3280:
3275:
3274:
3273:
3258:
3253:
3248:
3243:
3238:
3233:
3231:Disequilibrium
3228:
3223:
3221:Constitutional
3218:
3213:
3212:
3211:
3201:
3196:
3191:
3186:
3180:
3178:
3170:
3169:
3167:
3166:
3161:
3160:
3159:
3149:
3144:
3139:
3134:
3129:
3124:
3119:
3114:
3109:
3107:French liberal
3104:
3099:
3094:
3093:
3092:
3082:
3077:
3072:
3066:
3064:
3058:
3057:
3055:
3054:
3049:
3044:
3039:
3033:
3031:
3022:
3018:
3017:
3015:
3014:
3009:
3004:
2998:
2996:
2992:
2991:
2984:
2983:
2976:
2969:
2961:
2952:
2951:
2949:
2948:
2943:
2937:
2935:
2931:
2930:
2928:
2927:
2922:
2917:
2915:Joseph Salerno
2912:
2907:
2902:
2900:George Reisman
2897:
2892:
2887:
2882:
2877:
2872:
2867:
2862:
2860:Israel Kirzner
2857:
2852:
2850:Steven Horwitz
2847:
2842:
2837:
2832:
2827:
2825:Roger Garrison
2822:
2817:
2812:
2807:
2802:
2796:
2794:
2790:
2789:
2787:
2786:
2781:
2776:
2771:
2766:
2760:
2758:
2754:
2753:
2751:
2750:
2745:
2744:
2743:
2738:
2733:
2723:
2717:
2715:
2711:
2710:
2702:
2701:
2694:
2687:
2679:
2673:
2672:
2663:
2655:
2629:
2624:
2619:
2608:
2607:External links
2605:
2603:
2602:
2600:, 1978, p. 51.
2589:
2563:
2539:
2530:
2512:
2493:
2469:
2448:
2423:
2400:
2373:
2347:
2322:
2312:. 25 July 2007
2298:
2280:
2255:
2245:. 11 July 2002
2220:
2188:
2158:
2130:
2103:
2073:
2060:
2041:
2023:
2021:
2018:
2017:
2016:
2009:
2006:
2005:
2004:
1985:
1973:
1961:
1942:
1930:
1911:
1899:
1880:
1868:
1845:
1833:
1832:
1831:
1813:
1812:
1811:
1791:
1790:
1789:
1761:
1740:
1737:
1728:
1725:
1722:
1721:
1655:
1654:
1605:logical method
1573:
1499:
1496:
1462:
1461:
1454:
1443:
1425:
1393:
1328:
1325:
1324:
1323:
1320:
1313:
1277:
1274:
1273:
1272:
1268:
1245:
1244:
1233:
1175:Main article:
1172:
1169:
1168:
1167:
1145:
1131:least valuable
1126:
1125:
1122:
1119:
1112:Pareto optimal
1094:
1091:
1090:
1089:
1086:microeconomics
1082:
1075:
1072:
1069:
1022:
1005:
1004:
1001:
957:
891:Natural Value)
877:economic value
872:
869:
843:From his book
829:
826:
729:microeconomics
717:economic value
648:
645:
532:, both of the
443:) in 1893 and
423:) in 1891 and
351:of economics.
289:
286:
157:
156:
153:
152:
143:
139:
138:
125:
121:
120:
111:
108:School or
105:
104:
100:
99:
96:
95:
90:
86:
85:
76:
74:(aged 75)
68:
64:
63:
54:
41:
39:
35:
34:
26:
25:
22:
15:
9:
6:
4:
3:
2:
3579:
3568:
3565:
3563:
3560:
3558:
3555:
3553:
3550:
3548:
3545:
3543:
3540:
3538:
3535:
3533:
3530:
3528:
3525:
3523:
3520:
3518:
3515:
3513:
3510:
3508:
3505:
3504:
3502:
3487:
3484:
3482:
3479:
3477:
3474:
3472:
3469:
3467:
3464:
3462:
3459:
3457:
3454:
3452:
3449:
3447:
3444:
3442:
3439:
3437:
3434:
3433:
3431:
3427:
3417:
3416:Social credit
3414:
3412:
3409:
3407:
3404:
3402:
3399:
3397:
3394:
3392:
3391:Structuralist
3389:
3387:
3384:
3382:
3379:
3377:
3374:
3372:
3371:Public choice
3369:
3367:
3364:
3362:
3359:
3357:
3354:
3350:
3347:
3345:
3342:
3341:
3340:
3339:New classical
3337:
3335:
3334:Neoliberalism
3332:
3330:
3327:
3325:
3324:Neo-Ricardian
3322:
3320:
3317:
3315:
3312:
3308:
3305:
3304:
3303:
3300:
3294:
3291:
3289:
3286:
3285:
3284:
3281:
3279:
3276:
3272:
3269:
3268:
3267:
3264:
3263:
3262:
3259:
3257:
3256:Institutional
3254:
3252:
3249:
3247:
3244:
3242:
3239:
3237:
3234:
3232:
3229:
3227:
3224:
3222:
3219:
3217:
3214:
3210:
3207:
3206:
3205:
3202:
3200:
3197:
3195:
3192:
3190:
3187:
3185:
3182:
3181:
3179:
3171:
3165:
3162:
3158:
3155:
3154:
3153:
3150:
3148:
3145:
3143:
3140:
3138:
3135:
3133:
3130:
3128:
3125:
3123:
3120:
3118:
3115:
3113:
3110:
3108:
3105:
3103:
3100:
3098:
3095:
3091:
3088:
3087:
3086:
3083:
3081:
3078:
3076:
3073:
3071:
3068:
3067:
3065:
3063:
3059:
3053:
3050:
3048:
3045:
3043:
3040:
3038:
3035:
3034:
3032:
3030:
3026:
3023:
3019:
3013:
3012:Scholasticism
3010:
3008:
3005:
3003:
3000:
2999:
2997:
2993:
2989:
2982:
2977:
2975:
2970:
2968:
2963:
2962:
2959:
2947:
2944:
2942:
2939:
2938:
2936:
2932:
2926:
2923:
2921:
2918:
2916:
2913:
2911:
2908:
2906:
2903:
2901:
2898:
2896:
2893:
2891:
2888:
2886:
2883:
2881:
2880:Robert Murphy
2878:
2876:
2875:Fritz Machlup
2873:
2871:
2868:
2866:
2863:
2861:
2858:
2856:
2853:
2851:
2848:
2846:
2843:
2841:
2838:
2836:
2835:Henry Hazlitt
2833:
2831:
2828:
2826:
2823:
2821:
2818:
2816:
2813:
2811:
2810:Peter Boettke
2808:
2806:
2803:
2801:
2798:
2797:
2795:
2791:
2785:
2782:
2780:
2777:
2775:
2772:
2770:
2767:
2765:
2762:
2761:
2759:
2755:
2749:
2746:
2742:
2739:
2737:
2734:
2732:
2729:
2728:
2727:
2724:
2722:
2719:
2718:
2716:
2712:
2707:
2700:
2695:
2693:
2688:
2686:
2681:
2680:
2677:
2671:
2667:
2664:
2661:
2660:
2656:
2654:
2650:
2644:
2640:
2639:
2635:
2630:
2628:
2625:
2623:
2620:
2618:
2614:
2611:
2610:
2599:
2596:F. A. Hayek,
2593:
2576:
2570:
2568:
2552:
2546:
2544:
2537:
2535:
2528:
2523:
2516:
2509:
2505:
2502:
2497:
2483:. Answers.com
2482:
2476:
2474:
2458:
2452:
2437:
2435:
2427:
2410:
2404:
2397:
2392:
2390:
2388:
2386:
2384:
2382:
2380:
2378:
2360:
2354:
2352:
2337:on 2011-09-27
2336:
2332:
2326:
2308:
2302:
2294:
2290:
2284:
2269:
2265:
2259:
2241:
2235:
2233:
2231:
2229:
2227:
2225:
2210:on 2011-07-25
2209:
2205:
2199:
2197:
2195:
2193:
2177:
2171:
2169:
2167:
2165:
2163:
2145:
2139:
2137:
2135:
2128:
2124:
2121:
2116:
2114:
2112:
2110:
2108:
2093:on 2011-09-29
2092:
2088:
2082:
2080:
2078:
2070:
2064:
2056:
2055:Natural Value
2050:
2045:
2038:
2034:
2028:
2024:
2015:
2012:
2011:
1993:
1992:
1986:
1983:
1978:
1974:
1971:
1966:
1962:
1950:
1949:
1943:
1940:
1935:
1931:
1919:
1918:
1912:
1909:
1904:
1900:
1888:
1887:
1881:
1878:
1873:
1869:
1866:
1862:
1857:
1855:
1850:
1846:
1843:
1838:
1834:
1830:
1826:
1822:
1821:
1818:
1814:
1810:
1806:
1805:
1800:
1799:
1796:
1792:
1787:
1786:
1785:Natural Value
1781:
1780:
1769:
1768:
1762:
1750:
1749:
1743:
1742:
1736:
1733:
1717:
1716:
1709:
1708:
1701:
1695:
1689:
1683:
1678:
1677:
1672:
1670:
1669:
1660:
1656:
1653:
1650:
1646:
1645:German School
1642:
1639:character of
1638:
1634:
1630:
1626:
1622:
1621:extrapolation
1618:
1617:interpolation
1614:
1610:
1606:
1602:
1598:
1594:
1585:
1580:
1572:
1570:
1566:
1561:
1558:
1552:
1550:
1546:
1542:
1538:
1533:
1532:and Wieser.
1531:
1527:
1523:
1518:
1513:
1512:neoliberalism
1509:
1505:
1495:
1492:
1488:
1483:
1481:
1480:effectiveness
1477:
1472:
1467:
1459:
1455:
1452:
1448:
1444:
1441:
1437:
1433:
1429:
1426:
1423:
1419:
1418:
1417:
1415:
1405:
1400:
1392:
1387:
1385:
1381:
1376:
1370:
1368:
1364:
1360:
1356:
1350:
1348:
1344:
1340:
1335:
1321:
1318:
1314:
1311:
1307:
1306:
1305:
1302:
1299:
1296:
1291:
1287:
1283:
1271:alternative).
1269:
1266:
1265:
1264:
1261:
1259:
1255:
1249:
1242:
1238:
1234:
1231:
1227:
1226:
1225:
1222:
1217:
1215:
1211:
1206:
1201:
1196:
1188:
1183:
1178:
1165:
1161:
1157:
1153:
1149:
1146:
1143:
1140:
1139:
1138:
1135:
1132:
1123:
1120:
1117:
1116:
1115:
1113:
1108:
1103:
1100:
1087:
1083:
1080:
1076:
1073:
1070:
1067:
1063:
1062:
1061:
1058:
1056:
1052:
1048:
1043:
1034:
1029:
1021:
1019:
1015:
1011:
1002:
999:
995:
991:
990:
989:
986:
982:
977:
969:
968:Natural Value
964:
956:
954:
950:
944:
942:
938:
933:
927:
922:
918:
913:
910:
904:
902:
897:
892:
887:
882:
878:
868:
865:
860:
856:
852:
851:Natural Value
847:
838:
834:
825:
823:
819:
814:
809:
804:
799:
795:
791:
787:
783:
779:
775:
770:
768:
764:
759:
757:
753:
749:
745:
741:
737:
732:
730:
726:
722:
718:
712:
709:
704:
700:
699:private goods
696:
692:
687:
682:
681:
676:
675:Natural Value
671:
666:
658:
653:
644:
642:
638:
637:Knut Wicksell
634:
629:
624:
619:
613:
611:
606:
601:
596:
590:
588:
584:
580:
579:Richard Riedl
576:
572:
568:
561:
556:
552:
549:
547:
546:German School
543:
539:
535:
531:
527:
522:
517:
512:
510:
506:
501:
496:
491:
485:
483:
479:
475:
471:
467:
463:
458:
456:
452:
447:
442:
437:
432:
427:
422:
417:
411:
409:
405:
404:Natural Value
400:
395:
394:
388:
386:
382:
377:
372:
365:
361:
356:
352:
350:
346:
341:
336:
332:
328:
323:
320:
315:
311:
307:
303:
299:
295:
285:
283:
279:
274:
271:
266:
261:
259:
255:
251:
247:
244:(building on
242:
237:
233:
229:
225:
221:
220:Natural Value
216:
214:
210:
206:
202:
198:
197:
192:
188:
184:
180:
176:
171:
163:
154:
151:
147:
144:
140:
135:
129:
126:
122:
119:
115:
112:
106:
101:
97:
94:
91:
87:
83:
79:
69:
65:
61:
57:
40:
36:
32:
27:
20:
3241:Evolutionary
3173:Contemporary
3152:Neoclassical
3097:Distributist
3042:Mercantilism
3029:Early modern
2920:Mark Skousen
2870:Peter Leeson
2840:Robert Higgs
2820:Frank Fetter
2805:Walter Block
2783:
2670:Find a Grave
2658:
2636:
2597:
2592:
2581:. Retrieved
2555:. Retrieved
2515:
2496:
2485:. Retrieved
2461:. Retrieved
2451:
2440:. Retrieved
2433:
2426:
2415:. Retrieved
2403:
2365:. Retrieved
2339:. Retrieved
2335:the original
2325:
2314:. Retrieved
2301:
2292:
2283:
2272:. Retrieved
2268:the original
2258:
2247:. Retrieved
2212:. Retrieved
2208:the original
2180:. Retrieved
2150:. Retrieved
2095:. Retrieved
2091:the original
2068:
2067:Mark Blaug,
2063:
2054:
2048:
2044:
2036:
2032:
2027:
1996:. Retrieved
1990:
1981:
1969:
1953:. Retrieved
1947:
1938:
1922:. Retrieved
1916:
1907:
1891:. Retrieved
1885:
1876:
1853:
1841:
1824:
1803:
1784:
1772:. Retrieved
1766:
1753:. Retrieved
1747:
1730:
1674:
1664:
1659:
1632:
1597:teleological
1593:essentialism
1590:
1583:
1563:
1553:
1534:
1525:
1508:Liberalismus
1507:
1501:
1484:
1475:
1465:
1463:
1458:productivity
1447:public goods
1410:
1403:
1389:
1371:
1359:collectivism
1351:
1346:
1342:
1338:
1330:
1303:
1300:
1279:
1262:
1250:
1246:
1218:
1209:
1199:
1191:
1159:
1155:
1136:
1130:
1127:
1104:
1098:
1096:
1059:
1039:
1032:
1007:
978:
974:
967:
946:
936:
914:
905:
900:
890:
874:
871:Value theory
855:value theory
850:
842:
836:
822:intervention
816:) using the
807:
790:neoclassical
771:
760:
739:
733:
713:
695:public goods
690:
678:
674:
662:
647:Achievements
641:World War II
632:
622:
614:
609:
599:
591:
587:jurisdiction
564:
550:
537:
513:
504:
494:
486:
459:
454:
450:
440:
430:
420:
412:
403:
391:
389:
380:
371:habilitation
368:
324:
291:
281:
275:
270:entrepreneur
262:
249:
231:
219:
217:
194:
161:
160:
72:(1926-07-22)
70:22 July 1926
52:10 July 1851
3512:1926 deaths
3507:1851 births
3396:Supply-side
3319:Neo-Marxian
3132:Marginalism
3062:Late modern
3047:Physiocrats
2774:Carl Menger
2178:. Eumed.net
1858:, 1891 (in
1625:Mathematics
1615:slope (see
1545:free market
1530:Carl Menger
1286:marginalism
1282:Carl Menger
1107:Carl Menger
998:competition
881:Carl Menger
818:performance
763:Carl Menger
725:Carl Menger
708:Grenznutzen
612:) in 1926.
575:World War I
526:Léon Walras
521:Grenznutzen
364:Carl Menger
335:Carl Menger
250:Grenzkosten
241:Grenznutzen
191:Carl Menger
146:Carl Menger
89:Nationality
3501:Categories
3376:Regulation
3302:Monetarism
3288:Circuitism
3236:Ecological
3204:Chartalism
3184:Behavioral
3127:Manchester
3122:Malthusian
3080:Birmingham
3037:Cameralism
3021:Modern era
2995:Pre-modern
2895:Larry Reed
2714:Influences
2583:2011-10-17
2557:2011-10-17
2487:2011-10-17
2463:2011-10-17
2442:2011-10-17
2417:2011-10-17
2367:2011-10-17
2341:2011-10-17
2316:2011-10-17
2274:2011-10-17
2249:2011-10-17
2214:2011-10-17
2182:2011-10-17
2152:2011-10-17
2097:2011-10-17
1865:Wikisource
1856:, Volume 1
1649:psychology
1355:individual
1241:technology
1051:Adam Smith
1014:production
794:monopolies
752:economists
721:imputation
677:) and the
462:alma mater
246:von Thünen
230:; and his
228:imputation
196:Grundsätze
185:. Born in
142:Influences
78:St. Gilgen
48:1851-07-10
3451:Economics
3386:Stockholm
3261:Keynesian
3226:Cracovian
3175:(20th and
3164:Socialist
3147:Mutualism
3090:Ricardian
3085:Classical
2708:economics
2641:is being
1998:17 August
1955:17 August
1924:17 August
1893:17 August
1829:Full text
1809:Full Text
1774:17 August
1755:17 August
1637:empirical
1613:inductive
1609:deductive
1549:efficient
1526:Socialism
1487:socialist
1298:(money).
1152:socialism
786:classical
736:economics
373:in 1884,
302:sociology
288:Biography
183:economics
175:economist
110:tradition
3476:Degrowth
3411:Virginia
3251:Freiburg
3246:Feminist
3199:Carnegie
3189:Buddhist
3157:Lausanne
3112:Georgism
3075:Austrian
2934:See also
2757:Founders
2634:template
2504:Archived
2123:Archived
2051:, 1889;
2008:See also
1984:), 1923.
1972:), 1923.
1941:), 1911.
1910:), 1909.
1879:), 1892.
1844:), 1891.
1820:, 1926;
1707:Freifrau
1668:Freiherr
1633:a priori
1574:—
1436:property
1394:—
1230:spending
1049:such as
1023:—
1018:consumer
994:antinomy
981:property
958:—
941:efficacy
780:between
756:scarcity
134:Dr. jur.
93:Austrian
3429:Related
3216:Chicago
2615:at the
1798:, 1914
1641:science
1595:or any
1586:), 1914
1440:utility
1422:capital
1406:), 1914
1363:liberal
1079:paradox
1053:is the
1035:), 1914
970:), 1914
917:economy
778:paradox
774:utility
738:is the
538:Memoirs
298:history
177:of the
166:German:
82:Austria
3307:Market
2653:Curlie
2647:
2638:Curlie
1851:", in
1727:Legacy
1715:Freiin
1432:income
1237:demand
1164:market
1010:wealth
839:, 1889
464:, the
187:Vienna
56:Vienna
3283:Post-
2632:‹The
2578:(PDF)
2412:(PDF)
2362:(PDF)
2310:(PDF)
2243:(PDF)
2147:(PDF)
2020:Notes
1739:Works
1676:Baron
1631:, an
1629:Logic
1569:order
1565:Chaos
1258:goods
953:price
623:Money
571:Baron
258:value
136:1872)
3266:Neo-
2000:2018
1957:2018
1926:2018
1895:2018
1776:2018
1757:2018
1711:and
1627:and
1619:and
1434:and
1295:Geld
915:The
788:and
697:and
618:Geld
528:and
300:and
263:The
211:and
67:Died
38:Born
3278:New
2668:at
2651:at
1688:von
903:).
820:of
711:).
518:" (
511:".
316:'s
294:law
248:'s
193:'s
181:of
3503::
2645:.›
2566:^
2542:^
2533:^
2525:,
2472:^
2376:^
2350:^
2291:.
2223:^
2191:^
2161:^
2133:^
2106:^
2076:^
1867:).
1694:zu
1691:,
1386::
1260:.
1057:.
643:.
589:.
472:,
296:,
207:,
80:,
58:,
2980:e
2973:t
2966:v
2698:e
2691:t
2684:v
2586:.
2560:.
2510:.
2490:.
2466:.
2445:.
2432:"
2420:.
2398:.
2370:.
2344:.
2319:.
2277:.
2252:.
2217:.
2185:.
2155:.
2100:.
2002:.
1980:(
1968:(
1959:.
1937:(
1928:.
1906:(
1897:.
1875:(
1847:"
1840:(
1778:.
1759:.
1719:.
1582:(
1571:.
1474:(
1460:.
1453:.
1402:(
1345:(
1337:(
1312:.
1208:(
1198:(
1158:(
1088:.
1031:(
966:(
935:(
923:(
899:(
889:(
849:(
806:(
705:(
689:(
673:(
631:(
621:(
608:(
598:(
503:(
493:(
449:(
439:(
429:(
419:(
402:(
379:(
343:(
164:(
132:(
50:)
46:(
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
