A Biography of Eugen von Bohm-Bawerk

Eugen von Böhm-Bawerk (Born February 12, 1851; Died 1914) was in the right place at the right time to contribute importantly to the development of Austrian economics. Studying at the University of Vienna, he was twenty years old when Carl Menger‘s Principles of Economics appeared in print in 1871. His formal university training was in law (and thus he was […]

A Biography of Joseph Alois Schumpeter

“ Can capitalism survive? No. I do not think it can.” Thus opens Schumpeter’s prologue to a section of his 1942 book, Capitalism, Socialism and Democracy. One might think, on the basis of the quote, that Schumpeter was a Marxist. But the analysis that led Schumpeter to his conclusion differed totally from Karl Marx’s. Marx believed that capitalism would be […]

A Biography of Ludwig von Mises

A leading free-market Austrian economist, Ludwig von Mises was a pre-eminent developer of free-market analysis. In his most influential work, Human Action, Ludwig von Mises explored the meaning and workings of freedom. From his pondering on business cycles,marginal utility, free-market competition and enlightened self-interest, Mises concluded that a society functions best when government does little. Ludwig von Mises […]