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Carl Menger: Pioneer of "Empirical Theory"

  • Carl Menger
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Tags History of the Austrian School of Economics

12/28/2007

The problems and ideas that moved Ludwig von Mises in his early years, writes Jorg Guido Hulsmann, were addressed by the work of four great economic theorists: Carl Menger, Eugen von Böhm-Bawerk, Friedrich von Wieser, and Joseph Schumpeter. He knew all four personally, but Menger had retired from teaching a year before Mises discovered Menger's Principles. They met for the first time around 1910, when Mises was attending Böhm-Bawerk's seminar and preparing his first treatise, The Theory of Money and Credit. It was then customary that young men wishing to pursue an academic career in economics paid Menger a visit. He received them in his house amidst his impressive library and had them talk about their work and projects. FULL ARTICLE

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