The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Wieser, Friedrich Freiherr, (Baron) von (1851–1926)

  • E. Streissler
Reference work entry


Wieser is commonly cited together with his senior, Carl Menger, and his exact contemporary, Eugen Böhm von Bawerk, as one of the founding trio of the Austrian School of Economics in the last quarter of the 19th century. The exact nature of his achievement, however, seems now practically forgotten: possibly because he produced an intractable mixture of deep and influential insights, very distinctly his own, intermingled with oratorical prose and often unpalatable value judgements; he was extremely successful in his own generation but appeared outdated in his attitudes half a century later.


Austrian economics Austrian School Böhm-Bawerk, E. von Countervailing power Efficient production Equimarginal principle in production Imputation Innovation Marginal utility Menger, C. Mises, L. E. von Natural value Opportunity cost Schumpeter, J. A. Wieser, F. F. von 

JEL Classifications

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  1. Mayer, H. 1929. Friedrich Freiherr von Wieser. In Neue österreichische Biographie, vol. 6. Vienna: Amalthea.Google Scholar
  2. Schumpeter, J.A. 1912. The theory of economic development. An inquiry into profits, capital, credit, interest, and the business cycle. Trans. R. Opie. Cambridge, MA: Harvard University Press, 1934.Google Scholar
  3. Stigler, G.J. 1941. Production and distribution theories: The formative period. New York: Macmillan.Google Scholar
  4. Streissler, E.W. 1986. Arma virumque cano – Friedrich von Wieser, the bard as economist. In Die Wiener Schule der Nationalökonomie, ed. N. Leser. Vienna: Hermann Böhlau.Google Scholar

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© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • E. Streissler
    • 1
  1. 1.