Wieser, Hayek and Equilibrium Theory
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Bruce J. Caldwell
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.
©2011 Walter de Gruyter GmbH & Co. KG, Berlin/Boston
Articles in the same Issue
- Article
- Introduction
- What is Alertness?
- Asymmetric Interpretations
- On Neglected Opportunities And Entrepreneurial Discovery
- Wieser, Hayek and Equilibrium Theory
- Entrepreneurship, Exogenous Change and the Flexibility of Capital
- Heterogeneous Capital, Entrepreneurship, and Economic Organization
- Kirznerian Entrepreneurship and The Nature of The Firm
- Owners, Managers, and Entrepreneurship in The Corporate Firm
- Kirznerian Entrepreneurship and The Economics of Science
- Kirznerian Economics: Some Policy Implications and Issues
- The Role of Governments in the Promotion of Competition: The Legacy of Professor Kirzner in Policy Making
- Recent Publications
Articles in the same Issue
- Article
- Introduction
- What is Alertness?
- Asymmetric Interpretations
- On Neglected Opportunities And Entrepreneurial Discovery
- Wieser, Hayek and Equilibrium Theory
- Entrepreneurship, Exogenous Change and the Flexibility of Capital
- Heterogeneous Capital, Entrepreneurship, and Economic Organization
- Kirznerian Entrepreneurship and The Nature of The Firm
- Owners, Managers, and Entrepreneurship in The Corporate Firm
- Kirznerian Entrepreneurship and The Economics of Science
- Kirznerian Economics: Some Policy Implications and Issues
- The Role of Governments in the Promotion of Competition: The Legacy of Professor Kirzner in Policy Making
- Recent Publications
