Austrian Economics Vol. I (Schools of Thought in Economics) by Stephen C. Littlechild

By Stephen C. Littlechild

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Additional resources for Austrian Economics Vol. I (Schools of Thought in Economics)

Example text

The first cause from whim the movement proceeds, the 'Jilos, is, as Aristotle says, also the o8-ev ;1 x1vt'Ju£s. The goal however is not the etemal end, but the realized whole (Italics Paulsen) ... " The Aristotelian inelixe£", the motion from the potentiality to the actualization determines not only the structure of the system but also the presentation of the thoughts. The process of realization can best be explained in the form of a fictitious history, where the Austrian economists show how the Robinson Crusoe economy manges step by step in a full grown economy.

It is, however, certainly striking that Austri;In economics was the most strongly psy~~ologicaLsch{)()tof eco~()rnics among contemporary schools and, indeed, "the most strongly psychological of all "times. Late-ninetee-riitl~c~~tury-Austria had a particular fascination for psychology and was the hot-bed of new psychological ideas.

Even Bohm-Bawerk who did not easily reveal his feelings was influenced by his religious environment. " Yet it is Wieser who expresses, more explicitly than Bohm, the hope that marity will triumph over brutal force. He shares this vision with Adalbert Stifter who may have influenced Wieser. As far as I could verify, Stifter is never mentioned in Wieser's writing". But the great resemblance of thoughts induces me to assume that a spiritual tie binds together. the smoolmaster of Oberplan in Bohemia with the last minister of trade of the Austrian Hungarian monarmy.

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