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Wieser, Hayek and Equilibrium Theory

Author

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  • 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
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    References listed on IDEAS

    as
    1. Hayek, F. A., . "Money, Capital, and Fluctuations," University of Chicago Press Economics Books, University of Chicago Press, number 9780226321271 edited by McCloughry, R. K., December.
    2. repec:ucp:bkecon:9780226320625 is not listed on IDEAS
    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
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    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.

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