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The New Palgrave Dictionary of Economics pp 986–995Cite as

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Böhm-Bawerk, Eugen von (1851–1914)

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Abstract

As civil servant and economic theorist, Böhm-Bawerk was one of the most influential economists of his generation. A leading member of the Austrian School, he was one of the main propagators of neoclassical economic theory and did much to help it attain its dominance over classical economic theory. His name is primarily associated with the Austrian theory of capital and a particular theory of interest. But his prime achievement is the formulation of an intertemporal theory of value which, when applied to an exchange economy with production using durable capital goods, yields a theory of capital, a theory of interest, and indeed a theory of distribution in which the time element plays a crucial role. Both this construction and his equally famous critique of Marx’s economics strongly influenced the development of economic theory from the 1880s until well into the 1930s.

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Bibliographic Addendum

  • Hennings, K. The Austrian theory of value and capital: Studies in the life and work of Eugen von Böhm-Bawerk. Cheltenham: Edward Elgar, 1997, is a detailed account.

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  1. http://link.springer.com/referencework/10.1057/978-1-349-95121-5

    K. H. Hennings

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  1. K. H. Hennings
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Hennings, K.H. (2018). Böhm-Bawerk, Eugen von (1851–1914). In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_461

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