IDEAS home Printed from https://ideas.repec.org/a/bpj/jeehcn/v12y2002i1n5.html

Wieser, Hayek and Equilibrium Theory

Author

Listed:
  • Caldwell Bruce J.

    (UNCG)

Abstract

The paper challenges Joseph Salerno's 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 Hayek's early attraction to what he called "equilibrium analysis" had causes independent of those alleged by Salerno.Cet article récuse l'interprétation 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 l'équilibre. S'inscrivant en cela en opposition avec ce qu'avance Salerno, cet article suggère que Wieser n'était pas un partisan de la théorie de l'équilibre général et, en conséquence, ne peut avoir influencé Hayek comme le suggère Salerno ; qu'il n'y a eu aucun effort concerté entre Schumpeter, Wieser, Mayer et Hayek pour promouvoir la théorie de l'équilibre général parmi les autrichiens durant les années d'avant-guerre et celles de l'entre-deux guerres ; et enfin, que l'intérêt du jeune Hayek dans ce qu'il appelait "l'analyse de l'équilibre" 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
    DOI: 10.2202/1145-6396.1047
    as

    Download full text from publisher

    File URL: https://doi.org/10.2202/1145-6396.1047
    Download Restriction: For access to full text, subscription to the journal or payment for the individual article is required.

    File URL: https://libkey.io/10.2202/1145-6396.1047?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    References listed on IDEAS

    as
    1. repec:ucp:bkecon:9780226320625 is not listed on IDEAS
    2. Hayek, F. A., . "Money, Capital, and Fluctuations," University of Chicago Press Economics Books, University of Chicago Press, number 9780226321271 edited by McCloughry, R. K., August.
    3. Allen Oakley, 1999. "The Revival of Modern Austrian Economics," Books, Edward Elgar Publishing, number 1204.
    4. Allen Oakley, 1997. "The Foundations of Austrian Economics from Menger to Mises," Books, Edward Elgar Publishing, number 860.
    5. repec:ucp:bkecon:9780226320649 is not listed on IDEAS
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Karp, Morris, 2024. "Hayek on Aristotle: debris of a genealogy of modernity via Popper, Polanyi and Röpke," SocArXiv zp4wq, Center for Open Science.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Michael Litschka & Kristoffel Grechenig, 2010. "Law by human intent or evolution? Some remarks on the Austrian school of economics’ role in the development of law and economics," European Journal of Law and Economics, Springer, vol. 29(1), pages 57-79, February.
    2. Roger W. Garrison, 2014. "Hayek and Friedman," Chapters, in: Roger W. Garrison & Norman Barry (ed.), Elgar Companion to Hayekian Economics, chapter 6, pages 116-137, Edward Elgar Publishing.
    3. Hagemann Harald, 2019. "Impulses and Propagation Mechanisms in Equilibrium Business Cycles Theories: From Interwar Debates to DSGE “Consensus”," Working Papers halshs-02386344, HAL.
    4. Malte Tobias Kähler, 2011. "From German Rules to European Discretion: Policy’s Slippery Slope," Chapters, in: David Howden (ed.), Institutions in Crisis, chapter 9, Edward Elgar Publishing.
    5. Agnès Festré, 2002. "Money, Banking and Dynamics: Schumpeter vs. Hayek," Post-Print halshs-00271359, HAL.
    6. Jean-Sébastien Lenfant, 2020. "Great Expectations. Hicks on expectations from Theory of Wages (1932) to Value and Capital (1939) (long version)," GREDEG Working Papers 2020-37, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.
    7. Stefka Koeva, 2006. "About the Austrian Economic Theory, Mises, Hayek and More: a Provoked Answe," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 6, pages 64-74.
    8. Tito Belchior Silva Moreira & Benjamin Miranda Tabak & Mario Jorge Mendonça & Adolfo Sachsida, 2016. "An Evaluation of the Non-Neutrality of Money," PLOS ONE, Public Library of Science, vol. 11(3), pages 1-20, March.
    9. Zijp, R. van & Visser, H., 1992. "Mathematical formalization and the analysis of Cantillon effects," Serie Research Memoranda 0002, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
    10. David Glasner, 2022. "Hayek, Hicks, Radner and four equilibrium concepts: Perfect foresight, sequential, temporary, and rational expectations," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 35(1), pages 39-61, March.
    11. Agnès Festré & Pierre Garrouste, 2016. "Hayek on Expectations: The Interplay between two Complex Systems," GREDEG Working Papers 2016-13, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.
    12. Steve H. Hanke, 2003. "The Argentine Straw Man: A Response to Currency Board Critics," Cato Journal, Cato Journal, Cato Institute, vol. 23(1), pages 47-57, Spring/Su.
    13. Roger W. Garrison, 2014. "Introduction," Chapters, in: Roger W. Garrison & Norman Barry (ed.), Elgar Companion to Hayekian Economics, chapter 1, pages 1-10, Edward Elgar Publishing.
    14. Carol A. Adams & Glen Whelan, 2009. "Conceptualising future change in corporate sustainability reporting," Accounting, Auditing & Accountability Journal, Emerald Group Publishing Limited, vol. 22(1), pages 118-143, January.
    15. Antonio Magliulo, 2016. "Hayek and the Great Depression of 1929: Did he really change his mind?," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 23(1), pages 31-58, February.
    16. Gilles Campagnolo, 2009. "Origins of Menger’s thought in French liberal economists," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 22(1), pages 53-79, March.
    17. Harald Hagemann & Hans-Michael Trautwein, 1998. "Cantillon and Ricardo effects: Hayek's contributions to business cycle theory," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 5(2), pages 292-316.
    18. repec:jpe:journl:1603 is not listed on IDEAS
    19. Paul Lewis, 2014. "Hayek: from economics as equilibrium analysis to economics as social theory," Chapters, in: Roger W. Garrison & Norman Barry (ed.), Elgar Companion to Hayekian Economics, chapter 9, pages 195-223, Edward Elgar Publishing.
    20. Pavel Potužák, 2018. "Price Level Stabilization: Hayek contra Mainstream Economics," Prague Economic Papers, Prague University of Economics and Business, vol. 2018(4), pages 449-478.
    21. Fratini, Saverio M. & Levrero, Enrico Sergio & Ravagnani, Fabio, 2016. "Price expectations in neo-Walrasian equilibrium models: an overview," MPRA Paper 69515, University Library of Munich, Germany.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bpj:jeehcn:v:12:y:2002:i:1:n:5. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.degruyterbrill.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.