1,549 works, 150 years of economic thought. Each one summarized and searchable, with cited passages inside.
For the fiftieth-anniversary volume of the Revue d'Economie Politique, Strigl described how economics was actually taught in the universities of his own Vienna — here in the French translation prepared for that Paris series. Long a marginal subject lodged within the law faculties and pushed late in the curriculum, economics had, he explains, been reduced for many students to an examination hurdle despite teaching of the first rank in the Austrian School tradition. He works through the old regulations, the 1935 reform that lengthened legal study and introduced early exercises in basic economic concepts, and the little-used Staatswissenschaft doctorate, before turning to the technical schools and the Austrian Institute for Business Cycle Research. His closing claim is plain: the worldwide reputation of the Austrian School is itself the best evidence for the quality of that teaching.
Pendant longtemps, l'enseignement économique, rattaché exclusivement aux facultés de droit, n'occupait, dans les programmes d'enseignement juridique, qu'une place peu saillante.
English translation: “For a long time, economic instruction, attached exclusively to the faculties of law, occupied only a minor place in the programs of legal education.”
Rarely taken seriously in Germany and often dismissed for its ties to monetary crisis theory, the Wicksellian process — the claim that an interest rate departing from equilibrium sets off a cumulative movement in prices, investment, and the structure of production — receives here a searching capital-theoretic defense. Writing in 1942 for Kiel's Weltwirtschaftliches Archiv and taking Erik Lindahl's Studies as his occasion, Strigl runs the process through four models and reaches a single stubborn conclusion: new capital requires a restriction of consumption before, during, or after investment, even where productive capacity sits idle. He rejects the old quantity theory's view of money as a mere price multiplier, and faults Lindahl for treating the necessary saving as an automatic by-product of the process rather than its precondition.
Eine spezifische Selektionsfunktion des Kapitalzinses besteht nun in der Begrenzung der Produktionsumwege.
English translation: “A specific selective function of interest on capital consists in limiting the roundaboutness of production.”
The book that Hulsmann's introduction calls the great untranslated work of interwar Austrian economics appears here in its first English edition, rendering the 1934 Kapital und Produktion for readers of capital-based macroeconomics. Strigl builds an entire theory of production on the higher yield of roundabout methods and the wage-fund idea: capital is not an independent force but a way of using labor and land across time, sustained by a fund of subsistence goods. He distinguishes free capital, intermediate products, and fixed capital, and traces how credit expansion — money capital created beyond real saving — lowers interest below equilibrium, lengthens production past what the subsistence fund can support, and immobilizes investment. Two appendices carry the argument into the business cycle, joining Bohm-Bawerk's production theory to Mises's theory of the crisis.
Owning capital equipment can never in itself represent wealth; it only becomes wealth if it can be integrated into the structure of production.
Interest rates, in a normal depression, fall and prepare the recovery; in the crisis after September 1929 they fell fast and then rose again, leaving the world economy stranded short of any natural upturn. From this paradox Strigl works toward an uncompromising verdict on the demands of the day — cheaper money and a halt to falling prices, urged by Keynes in England and defended by Cassel against the specter of gold scarcity. Both amount to the same thing, and both are inflation: new money never enters evenly, but favors particular sectors first, distorting relative prices and calling forth production that no real supply of goods can sustain. Such stimulus destroys capital by misdirecting it, and any monetary attempt to obstruct the crisis's necessary liquidation is, for him, already inflation before the currency visibly collapses.
Billiges Geld bedeutet mehr Geld, bedeutet höhere Preise.
English translation: “Cheap money means more money, means higher prices.”