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The Nationalökonomische Gesellschaft (Austrian Economic Association, NOeG) provides a prominent example of the Viennese economic circles and associations that more than…
The Nationalökonomische Gesellschaft (Austrian Economic Association, NOeG) provides a prominent example of the Viennese economic circles and associations that more than academic economics dominated scientific discourse in the interwar years. For the first time this chapter gives a thorough account of its history, from its foundation in 1918 until the demise of its long-time president, Hans Mayer, 1955, based on official documents and archival material. The topics treated include its predecessor and rival, the Gesellschaft österreichischer Volkswirte, its foundation in 1918 soon to be followed by years of inactivity, the relaunch by Mayer and Mises, the survival under the NS-regime and the expulsion of its Jewish members and the slow restoration after 1945. In particular, an attempt is made to provide a list of the papers presented to the NOeG, as complete as possible, for the period 1918–1938.
Historians of economic thought have begun to reintegrate “un-Austrian” Austrians back into discussions of Austrian Economics, yet many scholars have argued that the…
Historians of economic thought have begun to reintegrate “un-Austrian” Austrians back into discussions of Austrian Economics, yet many scholars have argued that the Austrian School dissolved after emigration, with only Mises and his followers left to carry on the legacy. This chapter argues that a renewed focus on the networks established by the Austrians themselves, before and after emigration, reveals a distinctly different picture of Austrian Economics. Focusing on their shared interest in international trade theory and business cycle theory and their continued contributions to economic methodology, we see the émigré Austrians advancing Austrian ideas while also reconstituting and elaborating new Austrian affiliations. Ultimately, we find ourselves in agreement with Herbert Furth that Austrian Economics is far broader than Hayek, Mises, and their acolytes would have it, and that it is vital to understand and preserve this more diverse tradition by investigating more closely the works of Haberler, Machlup, Morgenstern, and others.
In this chapter it is argued that when the Austrian revival takes place in the 1970s and 1980s the image of economics as an analytical science which can be…
In this chapter it is argued that when the Austrian revival takes place in the 1970s and 1980s the image of economics as an analytical science which can be methodologically kept clean from value judgments, and the economist as a pure truth-seeker shapes modern Austrian economics at the expense of an idea of a socially involved, embedded scholar with a responsibility toward society which was characteristic of the pre-WWII Austrian school. The neglect of that part of the Austrian heritage is important not only for how we understand the role and responsibility of the social scientist but also because it alters what we consider to be relevant and valid economic knowledge. The chapter demonstrates that insight into economic processes was excluded from what was considered valid economic knowledge and how social relevance of knowledge was no longer a goal in the postwar Austrian School. The chapter identifies alternative currents in the modern Austrian school to this general trend and suggests ways forward to think about the appropriate institutions to promote relevance and the moral conduct of (Austrian) economics.
For better understanding the connections between the Viennese circles in which Menger was involved, it is necessary to make some remarks on the Viennese context where they…
For better understanding the connections between the Viennese circles in which Menger was involved, it is necessary to make some remarks on the Viennese context where they developed. Since the end of the 19th century up to the interwar period, Vienna was a very lively city from a cultural point of view, the birthplace of modernism (Janik & Toulmin, 1973). In the age of the late Habsburg monarchy as well as in the post-First War ‘Red Vienna’, the intellectual, scientific and artistic life of the Austrian capital was so fervent that those years are recalled by historians as the Viennese Enlightenment, the gay apocalypse and the golden autumn: ‘two generations were enough to cover the whole period. The economist Carl Menger (1841–1920) shaped the beginning, and his son, the mathematician Karl Menger (1902–1985), witnessed the end’ (Golland & Sigmund, 2000, p. 34). After the First World War, from an economic point of view, a high inflation overwhelmed the country; while from a political point of view, ‘the new Austria was fragmented and labyrinthine’ (Leonard, 1998, p. 6): the Christian socialists were the conservative part of the society, but one third of citizens supported the new social-democratic party, which had the majority in Vienna.
Nobody concerned with political economy can neglect the history of economic doctrines. Structural changes in the economy and society influence economic thinking and…
Nobody concerned with political economy can neglect the history of economic doctrines. Structural changes in the economy and society influence economic thinking and, conversely, innovative thought structures and attitudes have almost always forced economic institutions and modes of behaviour to adjust. We learn from the history of economic doctrines how a particular theory emerged and whether, and in which environment, it could take root. We can see how a school evolves out of a common methodological perception and similar techniques of analysis, and how it has to establish itself. The interaction between unresolved problems on the one hand, and the search for better solutions or explanations on the other, leads to a change in paradigma and to the formation of new lines of reasoning. As long as the real world is subject to progress and change scientific search for explanation must out of necessity continue.
During the last years of his life, the mathematician Karl Menger worked on a biography of his father, the economist and founder of the Austrian School of Economics, Carl…
During the last years of his life, the mathematician Karl Menger worked on a biography of his father, the economist and founder of the Austrian School of Economics, Carl Menger. The younger Menger never finished the work. While working in the Menger collections at Duke University’s David M. Rubenstein Rare Book and Manuscript Library, we discovered draft chapters of the biography, a valuable source of information given that relatively little is known about Carl Menger’s life nearly a hundred years after his death. The unfinished biography covers Carl Menger’s family background and his life through early 1889. In this chapter, the authors discuss the biography and the most valuable new insights it provides into Carl Menger’s life, including Carl Menger’s family, his childhood, his student years, his time working as a journalist and newspaper editor, his early scientific career, and his relationship with Crown Prince Rudolf.
Tourism satellite accounts (TSA) are important tools for demonstrating the economic impact of tourism on a country and state level. A regional TSA (RTSA) offers the…
Tourism satellite accounts (TSA) are important tools for demonstrating the economic impact of tourism on a country and state level. A regional TSA (RTSA) offers the statistical groundwork for theoretical as well as practical users to underpin their own statistical evaluations and analyses, providing a regionalised view of consumption by tourists. This paper aims to extend TSA with respect to the indirect effects of tourism and the leisure demand of residents in their usual environment.
The study is based on the recommended framework for TSA‐building. The case study of Vienna will demonstrate the valuable information of a RTSA as city tourism is a very complex phenomenon and this impact is difficult to capture.
For 2006, the TSA method found that tourism made €1.36 billion in direct value added to Vienna's economy, or a share of 1.9 per cent of the Viennese gross regional product. Considering the direct and indirect effects of tourism a total value‐added of €4.05 billion for Vienna in 2006 is obtained. According to this figure, tourism contributed 5.7 per cent to the overall regional gross value added in Vienna. In taking an overall look at the expenditure on leisure‐time consumption and in the non‐usual environment (tourism), it is found that Vienna contributes €8.11 billion or 11.5 per cent to the gross regional product.
This paper is one of the first papers about building a TSA for a city. Vienna was the first state to commission a regional TSA (RTSA), followed by Upper and Lower Austria.
Purpose – The aim of this note is to explain what Hayek meant when in The Sensory Order he claimed that Mach was one of his fundamental readings in psychology while he was…
Purpose – The aim of this note is to explain what Hayek meant when in The Sensory Order he claimed that Mach was one of his fundamental readings in psychology while he was writing The Sensory Order.
Methodology/approach – A historical approach to show the different role Mach played in Hayek and Neurath/Carnap.
Findings•A parallelism between Mach–Kant and Hayek–Mach in psychology.•Hayek's rejection of Mach's final philosophical approach as well as his aversion against the Vienna Circle's positivism as forms of metaphysics, based on an awkward definition of isomorphism.
Research limitations/implications•The human sciences cannot be reduced to the natural sciences.•Any form of knowledge is knowledge of “how” rather than of “what”.
Originality/value of the paper•To show Mach's role in Hayek's psychology.•To consider The Sensory Order as a relevant part of Hayek's struggle against reductionism in psychology.
[In Menger's Reminiscences this part is Chapter Five (‘Vignettes of the members of the Circle in 1927’), where Moritz Schlick is described as ‘an extremely refined, somewhat introverted man’; Hans Hahn, ‘a strong, extroverted, highly articulate person who always spoke with a loud voice’; Olga Hahn Neurath, ‘always smoking a big cigar’; Otto Neurath, ‘a man of immense energy and curiosity, very fast in grasping new ideas, through an often distorting lens of socialist philosophy’; Rudolf Carnap, ‘systematic, sometimes to the point of pedantry…a truly liberal and completely tolerant man’; Victor Kraft ‘[who] like Schlick, Feigl and myself, by no means shared all the political ideas and ideals of Neurath’; Friedrich Waissman, ‘a very clear expositor [who] unfortunately dragged out his studies [of mathematics and philosophy] at the University’; Herbert Feigl, ‘[who] did probably more than anyone else to make some of the Viennese ideas known in America’; Theodor Radakovic, ‘a student of Hahn's…too shy to take part in the discussion of the Circle, although he attended the meetings regularly’; Edgar Zilsel, ‘a militant leftist [who] wanted to be considered only as close to, and not as a member of, the Circle’; and Felix Kaufmann, ‘a philosopher of law, an ardent phenomenologist, the only participant with a true sense of humour’ (Menger, 1994, pp. 55–68). These following parts are those unpublished].
The landscape of European cities is by no means homogeneous. Nonetheless, the same type of conflict has repeatedly occurred in different places in the last few years: From…
The landscape of European cities is by no means homogeneous. Nonetheless, the same type of conflict has repeatedly occurred in different places in the last few years: From Seville to Vienna, from Cologne to St. Petersburg, planned high-rise buildings for inner city districts have provoked fervent arguments and debates. Whether and how European cities should integrate more high-rise buildings is a highly controversial question. This chapter focuses on strategies of vertical construction and related debates about the cityscape in both Paris and Vienna. By studying the urban constellations of Paris and Vienna, it can be shown that what may look comparable at first glance is the outcome of highly different strategies and histories.
Although both cities define themselves to a wide degree with reference to historic structures, the image of tall buildings varies drastically in these cities, which correlates with these cities’ diverse histories and hence experiences with high-rise buildings. Path dependencies and the ways individual cities receive international trends are crucial to understanding processes of urbanization. Based on in-depth interviews with various urban actors and other relevant qualitative data, this chapter aims to demonstrate that a city’s high-rise strategy cannot be attributed to any single factor; rather, it is the result of a complex interplay between various aspects and actors, which crucially includes present and past struggles over cityscapes and therefore over urban spaces.