Wieser's Theory of Money

Abstract

The rediscovery of Austrian economics during the last 15 years has led to the reappearance of Menger, Mises, Hayek and, to a lesser extent, Böhm‐Bawerk in the footnotes. Next to nothing is heard of Friedrich von Wieser, Menger's successor in Vienna and inventor of the name “Austrian School”. Why is Wieser neglected in the Austrian Revival? Perhaps because economic theorists and policy makers in many countries have again become very interested in the possibilities of the market and in the applicability of the quantity theory of money — whereas Wieser was critical of both. Or perhaps because Wieser advocated an alliance of economics and sociology — whereas sociology is not very much in vogue now.

Citation

Dullaart, M.H.J. (1988), "Wieser's Theory of Money", Journal of Economic Studies, Vol. 15 No. 3/4, pp. 123-135. https://doi.org/10.1108/eb002675