Böhm-Bawerk and Entrepreneurship
Murray Rothbard always maintained that Eugen von Böhm-Bawerk, the teacher of Ludwig von Mises, was one of the greatest economists who ever lived. And Böhm-Bawerk‘s influence on Rothbard’s great treatise, Man, Economy and State was pervasive. Yet Böhm-Bawerk has never gotten his due, even from modern Austrian economists. Indeed prominent Austrians have referred to Böhm-Bawerk as a “Ricardian capital theorist” and to his project in capital theory as pointing toward ”incomplete subjectivism.” Now Matt McCaffrey and Joe Salerno set the record straight in their article “Böhm-Bawerk’s Approach to Entrepreneurship” just published in the Journal of the History of Economic Thought.