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Wieser, Hayek and Equilibrium Theory

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  • Caldwell Bruce J.

    (UNCG)

Abstract

The paper challenges Joseph Salernos recent revisionist account in The Place of Human Action in the Development of Economic Thought of the relationship between Friedrich von Wieser and F.A. Hayek and of their views on equilibrium theory. The paper argues, contra Salerno, that Wieser was not a proponent of general equilibrium theory, so could not have influenced Hayek in the manner Salerno suggests; that there was not a concerted effort by Schumpeter, Wieser, Mayer, and Hayek to advocate general equilibrium theory in the prewar and inter-war years among the Austrians; and finally, that Hayeks early attraction to what he called equilibrium analysis had causes independent of those alleged by Salerno.Cet article récuse linterprétation révisionniste récente de Joseph Salerno dans son article The Place of Human Action in the Development of Economic Thought à propos des relations entre Friedrich von Wieser et Friedrich Hayek, et de leurs visions au sujet de léquilibre. Sinscrivant en cela en opposition avec ce quavance Salerno, cet article suggère que Wieser nétait pas un partisan de la théorie de léquilibre général et, en conséquence, ne peut avoir influencé Hayek comme le suggère Salerno ; quil ny a eu aucun effort concerté entre Schumpeter, Wieser, Mayer et Hayek pour promouvoir la théorie de léquilibre général parmi les autrichiens durant les années davant-guerre et celles de lentre-deux guerres ; et enfin, que lintérêt du jeune Hayek dans ce quil appelait lanalyse de léquilibre avait des causes autres que celles évoquées par Salerno.

Suggested Citation

  • Caldwell Bruce J., 2002. "Wieser, Hayek and Equilibrium Theory," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 12(1), pages 1-22, March.
  • Handle: RePEc:bpj:jeehcn:v:12:y:2002:i:1:n:5
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    1. Allen Oakley, 1997. "The Foundations of Austrian Economics from Menger to Mises," Books, Edward Elgar Publishing, number 860.
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