by Hayek et al
[Title Page and Series Information]: Title page and editorial information for the Handelsblatt Library series 'Classics of Economics', listing the editors and the purpose of the facsimile edition of Carl Menger's work. [Publication Details and Production Credits]: Technical publication details including copyright information, translation permissions for Hayek and Hicks, and production credits for typesetting and binding. [Critical Introduction: Carl Menger's Foresight and Narrowness]: Horst Claus Recktenwald provides a secular background for Menger's work, critiquing the dominance of Keynesian statics and Schumpeter's errors while advocating for an evolutionary approach. He introduces the three 'royal roads' of research: static mechanics, evolutionary dynamics, and historical analytics, positioning Menger primarily within the evolutionary tradition despite his aversion to mathematics. [Aphoristic Judgments on Carl Menger]: A collection of quotes and aphorisms from famous economists regarding Menger's personality, methodological thinking, his dispute with Schmoller, and the overall significance of his 'Principles'. [Menger's 'Principles' in the History of Economic Thought]: F.A. Hayek analyzes Menger's place in economic history, contrasting his subjective value theory with the classical orthodoxy of Mill and Ricardo. Hayek emphasizes Menger's methodological individualism and his focus on the causal connection between goods and the satisfaction of needs, arguing that Menger provided tools for process analysis rather than just static equilibrium. [Menger and the Austrian Theory of Capital]: John R. Hicks discusses the rebirth of Austrian capital theory in modern economics, focusing on the time structure of production. He distinguishes between circulating and fixed capital, critiques the 'quasi-land' school of Clark and Walras, and develops a mathematical model for the viability of production processes based on the internal rate of return and the relationship between wages and interest rates. [Carl Menger and the Subjectivist Tradition in Economics]: Israel Kirzner evaluates Menger's subjectivist vision, defining production as a teleological process of transforming higher-order goods into lower-order goods based on consumer needs. Kirzner critiques Menger's 'incomplete' subjectivism—specifically his reliance on perfect information and neglect of the entrepreneurial role—while defending Menger's 'essentialist' approach against the neoclassical focus on mutual determination of variables. [Biography and Bibliography of Carl Menger]: A biographical chronology of Carl Menger's life from his birth in 1840 to his death in 1921, followed by a selected bibliography of his books, essays, and collected works. [Selected Literature and Genealogy of Economics]: A comprehensive list of secondary literature about Menger and the Austrian School, followed by a chronological 'Genealogy of Economics' table listing major thinkers and their works from Plato to Schumpeter. [Biographies of the Interpreters]: Biographical sketches of the three main contributors to the volume: F.A. Hayek, John Hicks, and Israel Kirzner, detailing their academic careers, major influences, and contributions to economic science.
Title page and editorial information for the Handelsblatt Library series 'Classics of Economics', listing the editors and the purpose of the facsimile edition of Carl Menger's work.
Read full textTechnical publication details including copyright information, translation permissions for Hayek and Hicks, and production credits for typesetting and binding.
Read full textHorst Claus Recktenwald provides a secular background for Menger's work, critiquing the dominance of Keynesian statics and Schumpeter's errors while advocating for an evolutionary approach. He introduces the three 'royal roads' of research: static mechanics, evolutionary dynamics, and historical analytics, positioning Menger primarily within the evolutionary tradition despite his aversion to mathematics.
Read full textA collection of quotes and aphorisms from famous economists regarding Menger's personality, methodological thinking, his dispute with Schmoller, and the overall significance of his 'Principles'.
Read full textF.A. Hayek analyzes Menger's place in economic history, contrasting his subjective value theory with the classical orthodoxy of Mill and Ricardo. Hayek emphasizes Menger's methodological individualism and his focus on the causal connection between goods and the satisfaction of needs, arguing that Menger provided tools for process analysis rather than just static equilibrium.
Read full textJohn R. Hicks discusses the rebirth of Austrian capital theory in modern economics, focusing on the time structure of production. He distinguishes between circulating and fixed capital, critiques the 'quasi-land' school of Clark and Walras, and develops a mathematical model for the viability of production processes based on the internal rate of return and the relationship between wages and interest rates.
Read full textIsrael Kirzner evaluates Menger's subjectivist vision, defining production as a teleological process of transforming higher-order goods into lower-order goods based on consumer needs. Kirzner critiques Menger's 'incomplete' subjectivism—specifically his reliance on perfect information and neglect of the entrepreneurial role—while defending Menger's 'essentialist' approach against the neoclassical focus on mutual determination of variables.
Read full textA biographical chronology of Carl Menger's life from his birth in 1840 to his death in 1921, followed by a selected bibliography of his books, essays, and collected works.
Read full textA comprehensive list of secondary literature about Menger and the Austrian School, followed by a chronological 'Genealogy of Economics' table listing major thinkers and their works from Plato to Schumpeter.
Read full textBiographical sketches of the three main contributors to the volume: F.A. Hayek, John Hicks, and Israel Kirzner, detailing their academic careers, major influences, and contributions to economic science.
Read full text