Skip to main content

Involvement of an Austrian Émigré Economist in America

  • Chapter
  • 345 Accesses

Abstract

In the interwar period, the Austrian School of economics neither did nor could stay in Austria; hence, most of its members emigrated, mainly to the United States. A precursory work on this emigration points out the economic and political reasons.

This is a preview of subscription content, log in via an institution.

Buying options

Chapter
USD   29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD   84.99
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
Hardcover Book
USD   109.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Learn about institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  • Boettke, P. and Vaughn, K (2002) ‘Knight and the Austrians on Capital, and the Problem of Socialism’, History of Political Economy, 34(1): 156–76.

    Article  Google Scholar 

  • Cohen, A. J. (2003) ‘Hayek/Knight Capital Controversy: The Irrelevance of Roundaboutness, or Purging Processes in Time?, History of Political Economy, 35(3): 469–90.

    Article  Google Scholar 

  • Craver, E. (1986a) ‘The emigration of Austrian economists, History of Political Economics,18(1): 1–32.

    Google Scholar 

  • Craver, E. (1986b) ‘Patronage and the directions of research in economics, the Rockefeller Foundation in Europe, 1924–1938, Minerva, 24(2-3): 205–22.

    Google Scholar 

  • Ellis, H. S. (1935) ‘Die Bedeutung der Produktionsperiode für die Krisentheorie’, Zeitschrift für Nationalökonomie, 6(2): 145–69.

    Article  Google Scholar 

  • Fetter, F. A. (1927) ‘Amerika, in H. Mayer (ed.), Gesamtbild der Forschung in den einzelnen Ländern, Die Wirtschaftstheorie der Gegenwart, 1: 31–60.

    Article  Google Scholar 

  • Fetter, F. A. (1977) Capital, Interest, and Rent: Essays in the Theory of Distribution, Kansas City: Sheed Andrews and McMeel, Inc.

    Google Scholar 

  • Genechten, R. van (1931) ‘Über das Verhältnis zwischen der Produktivität des Kapitals, den Löhnen und Zinsen, Zeitschrift für Nationalökonomie, 2(2): 200–20.

    Article  Google Scholar 

  • Hagemann, H. (ed.) (1997) Zur deutschsprachigen wirtschaftswissenschaftlichen Emigration nach 1933, Marburg: Metropolis.

    Google Scholar 

  • Hagemann, H (1999) ‘Oskar Morgenstern’, in H. Hagemann and C. D. Krohn (eds), Biographisches Handbuch der deutschsprachigen wirtschaftswissenschaftlichen Emigration nach 1933, Munich: K. G. Saur.

    Chapter  Google Scholar 

  • Hayek, F. A. (1933) Monetary Theory and the Trade Cycle, translated by N. Kaldor and H. M. Croome, London/Toronto: Jonathan Cape.

    Google Scholar 

  • Hayek, F. A. (1934/1992), ‘Carl Menger (1840–1921)’, in Klein (ed.) (1992).

    Google Scholar 

  • Hayek, F. A. (1963/1992) ‘The Economics of the 1920s as Seen from Vienna’, in Klein (ed.) (1992).

    Google Scholar 

  • Hutchison, T. W. (1938) The Significance and Basic Postulates of Economic Theory, London: Macmillan.

    Google Scholar 

  • Klausinger, H. (2006) ‘ “In the wilderness”: Emigration and the Decline of the Austrian School’, History of Political Economy, 38(4): 617–64.

    Article  Google Scholar 

  • Klein, P. G. (ed.) (1992) The Fortune of Liberalism: Essays on Austrian Economics and the Ideal of Freedom, Chicago: The University of Chicago Press.

    Google Scholar 

  • Knight, F. H. (1932a) ‘Das Wertproblem in der Wirtschaftstheorie’, in H. Mayer (ed.), Die Wirtschaftstheorie der Gegenwart, 2:52-72.

    Google Scholar 

  • Knight, F. H. (1932b) ‘Interest’, Encyclopedia of the Social Science, 8, editedby R. A. Seligman and A. Johnson, New York: MacMillan.

    Google Scholar 

  • Knight, F. H. (1933) ‘Capitalistic Production, Time and the Rate of return’, Economic Essays in Honor of Gustav Cassel, London: George Allen & Unwin Ltd.

    Google Scholar 

  • Knight, F. H. (1934) ‘Capital, Time and the Interest Rate’, Economica, n.s., 1 (August), 257–86.

    Google Scholar 

  • Knight, F. H. ‘Correspondence with Oskar Morgenstern’, Oskar Morgenstern Papers. (Box 3, Box 6).

    Google Scholar 

  • Leonard, R. J. (1995) ‘From Parlor Games to Social Science: von Neumann, Morgenstern, and the Creation of Game Theory 1928–1944’, Journal of Economic Literature, XXXIII(June): 730–61.

    Google Scholar 

  • Leonard, R. J. (2004) “‘Between worlds”, or an imagined Reminiscence by Oskar Morgenstern about Equilibrium and Mathematics in the 1920s’, Journal of the History of Economic Thought, 26(3): 285–310.

    Article  Google Scholar 

  • Liefmann, R. (1932) ‘Zur Diskussion über die Kosten-und Ertragstheorie’, Zeitschrift für Nationalökonomie, 3(3): 368–83.

    Article  Google Scholar 

  • Malkiel, B. G. (1973/2003) A Random-walk Down Wall Street: the time-tested strategy for successful investing, New York, London: W. W. Norton & Company.

    Google Scholar 

  • Mayer, H. (ed.) (1927) Gesamtbild der Forschung in den einzelnen Ländern,(Der erste Band von Die Wirtschaftstheorie der Gegenwart), Vienna: Verlag von Julius Springer.

    Google Scholar 

  • Menger, K. (1934/1979) ‘The Role of Uncertainty in Economics’, Selected Papers in Logic and Foundations, Didactics, Economics, Dordrecht, Boston, London: D. Reidel Publishing Company: 259–78. (‘Das Unsicherheitsmoment in der Wertlehre’, Zeitschrift für Nationalökonomie, 5(4): 459–85.)

    Google Scholar 

  • Menger, K. (1936/1979) ‘Remarks on the Law of Diminishing Returns: A Study in Meta-Economics’, Selected Papers in Logic and Foundations, Didactics, Economics, Dordrecht, Boston, London: D. Reidel Publishing Company: 279–302. (‘Bemerkungen zu den Ertragsgesetzen’, Zeitschrift für Nationalökonomie, 7(1): 25–56.)

    Google Scholar 

  • Morgenstern, O. (1927) ‘International vergleichende Konjunkturforschung’, Zeitschrift für die gesamte Staatswissenschaft, 83(2): 261–90.

    Google Scholar 

  • Morgenstern, O. (1928a) Wirtschaftsprognose: Eine Untersuchung ihrer Voraussetzungen und Möglichkeiten, Vienna: Julius Springer.

    Book  Google Scholar 

  • Morgenstern, O. (1928b) ‘Qualitative und quantitative Konjunkturforschung’, Zeitschrift fur die gesamte Staatswissenschaften, 85(1): 54–88.

    Google Scholar 

  • Morgenstern, O. (1931) ‘Offene Probleme der Kosten-und Ertragstheorie, Zeitschrift für Nationalökonomie, 2(4): 481–522.

    Article  Google Scholar 

  • Morgenstern, O. (1934a/1976) ‘The Time Moment in Value Theory’, in Morgenstern, Schotter and Nadiri (1976): 151–67. (‘Das Zeitmoment in der Wertlehre, Zeitschrift für Nationalökonomie, 5(4): 433–58.)

    Google Scholar 

  • Morgenstern, O. (1934b) Die Grenzen der Wirtschaftspolitik, Vienna: Julius Springer.

    Book  Google Scholar 

  • Morgenstern, O. (1935a/1976) ‘Perfect Foresight and Economic Equilibrium’, in Morgenstern, Schotter and Nadiri (1976): 169–83.

    Google Scholar 

  • Morgenstern, O. (1935b) ‘Zur Theorie der Produktionsperiode, Zeitschrift für Nationalökonomie, 6(2): 196–208.

    Article  Google Scholar 

  • Morgenstern, O. (1936/1976) ‘Logistics and the social sciences, in Morgenstern, Schotter and Nadiri (1976) Selected Economic Writings of Oskar Morgenstern,New York: New York University Press,: 389–404. (Originally in German, Zeitschrift für Nationalökonomie, 7(1): 1–24.)

    Google Scholar 

  • Morgenstern, O. (1943) ‘On the international spread of business cycles, The Journal of Political Economy, LI(4): 287–309.

    Google Scholar 

  • Morgenstern, O. (1951/1976) ‘Joseph A. Schumpeter, 1883–1950’, in Morgenstern, Schotter and Nadiri (eds) Selected Economic Writings of Oskar Morgenstern, New York: New York University Press, 489–97. (Originally in Economic Journal, 61(241): 197–202.)

    Google Scholar 

  • Morgenstern, O. (1976) ‘The CollaborationBetweenOskarMorgenstern and John von Neumann on the Theory of Games, Journal of Economic Literature, 14(3): 805–16.

    Google Scholar 

  • Morgenstern, O. Papers [= OMP]. Special Collections Library. Duke University.

    Google Scholar 

  • Morgenstern, O., Schotter, A. and Nadiri, M. I. (eds) (1976), Selected Economic Writings of Oskar Morgenstern, New York: New York University Press.

    Google Scholar 

  • Morgenstern, O. and Granger, C. W. T. (1970), Predictability in the Stock Market Prices.

    Google Scholar 

  • Nakayama, C. (1997) ‘The Process of Collaboration between Oskar Morgenstern and John von Neumann, Historyof Economics Review, 39(26): 40–50.

    Google Scholar 

  • Pavanelli, G. and Nakayama, C. (2008) ‘A Lifelong Friendship: The Correspondence between Oskar Morgenstern and Luigi Einaudi, Storia Del Pensiero Economico, n. s., Ann. 5, n. 1, 95–120.

    Google Scholar 

  • Rellstab, U. (1992) Ökonomie und Spiele. Die Entstehungsgeschichte der Spieltheorie aus dem Blickwinkel des Ökonomen Oskar Morgenstern, Chur: Rüegger.

    Google Scholar 

  • Rockefeller Foundation (1933) ‘Social science fellowships of the Rockefeller Foundation, 1924–1932 (voted prior to October 1, 1932)’, Rockefeller Foundation European Office.

    Google Scholar 

  • Rothbard, M. N. (1977) ‘Introduction’, in Fetter (ed.) (1977]).

    Google Scholar 

  • Schlesinger, K. von (1936) ‘Ein Beitrag zu Mengers “Bemerkungen zu den Ertragsgesetzen”, Zeitschrift für Nationalökonomie, 7(3): 398–400.

    Article  Google Scholar 

  • Schmidt, C. (1996) ‘Risk and Uncertainty: A Knightian distinction revisited’, in C. Schmidt (ed.), Uncertainty in Economic Thought, Cheltenham and Brookfield: Edward Elgar.

    Google Scholar 

  • Schumpeter, J. A. (1910) ‘Die neuere Wirtschaftstheorie in den Vereinigten Staaten’, Jahrbuch für Gesetzgebung, Verwaltungund Volkswirtschaft, 34(3): 1–51.

    Google Scholar 

  • Schumpeter, J. A. (1926/1954) ‘Gustav v. Schmoller und die Probleme von Heute’, Dogmenhistorische und Biographische Aufsätze, Tübingen: J. C. B. Mohr.

    Google Scholar 

  • Schumpeter, J. A. (1927) ‘Deutschland’, in H. Mayer (ed.), Gesamtbild der Forschungin den einzelnen Ländern, Die Wirtschaftstheorie der Gegenwart,1:1-30.

    Google Scholar 

  • Skousen, M. (2005) Vienna & Chicago Friends or Foes?: A Tale of Two Schools of Free-Market Economics, Lanham: Capital Press.

    Google Scholar 

Download references

Authors

Editor information

Editors and Affiliations

Copyright information

© 2010 Chikako Nakayama

About this chapter

Cite this chapter

Nakayama, C. (2010). Involvement of an Austrian Émigré Economist in America. In: Hagemann, H., Nishizawa, T., Ikeda, Y. (eds) Austrian Economics in Transition. Palgrave Macmillan, London. https://doi.org/10.1057/9780230281615_12

Download citation

Publish with us

Policies and ethics