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A Wellspring of Social Partnership. Business Cycle Research Between the World Wars


  • Felix Butschek



Looking back at the "Austrian Institute of Business Cycle Research", the pioneering forerunner of the Austrian Institute of Economic Research we get an amazingly impressive view. First of all, there were the main players: Friedrich A. von Hayek, motor of the project, later received the Nobel Prize and became one of the 20th century's premier economists. Ludwig von Mises, organiser of the Institute, for a long time commanded much the same attention. The same applies to Hayek's successor, Oskar Morgenstern. And all the other scientists that were close to the project – whether Haberler, Machlup, Tintner, Nurkse or Wald – were recruited from the luminaries of international economics. Most of them taught in the USA. Reinhard Kamitz, long-time chief staff member, was one of the most famous finance ministers of the Second Republic. It was not just a case of posthumous fame, because all of these economists were known and appreciated by their contemporaries the world over.

Suggested Citation

  • Felix Butschek, 2012. "A Wellspring of Social Partnership. Business Cycle Research Between the World Wars," WIFO Monatsberichte (monthly reports), WIFO, vol. 85(6), pages 451-459, June.
  • Handle: RePEc:wfo:monber:y:2012:i:6:p:451-459

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