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The Ideas of Ludwig von Mises for the Development of the Austrian Economic School

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  • Nikolay Gerchev

Abstract

Peculiarity of the theory of value of Mises is presented, and a special emphasis is put on differences with the concept of value of earlier Austrian economists. In the light of it the importance of economic calculation issues is deduced too. The theory of interventionism, developed by Mises, is presented in some details. His main conclusion, that interventionism is not an economic system which enables people to reach their goals, is pointed out. Special attention is paid to the character of economic laws. With regard to this a critical analysis of a number of statements in a book by Stefka Koeva (Austrian Economic School: Characteristics and Individual Achievements, Varna, Steno, 2003) is made.

Suggested Citation

  • Nikolay Gerchev, 2005. "The Ideas of Ludwig von Mises for the Development of the Austrian Economic School," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 4, pages 79-95.
    • Handle: RePEc:bas:econth:y:2005:i:4:p:79-95
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    References listed on IDEAS

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    1. Salerno, Joseph T, 1994. "Ludwig von Mises's Monetary Theory in Light of Modern Monetary Thought," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 8(1), pages 71-115.
    2. Salerno, Joseph T, 1993. "Mises and Hayek Dehomogenized: Review Essay," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 6(2), pages 113-146.
    3. Emil Kauder, 1970. "Austro-Marxism vs. Austro-Marginalism," History of Political Economy, Duke University Press, vol. 2(2), pages 398-418, Fall.
    4. von Mises, Ludwig, 1957. "Theory and History," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, edition 1, number mises1957.
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    More about this item

    JEL classification:

    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
    • B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian

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