Today, July 20, is Austrian economist, Gottfried Haberler’s birthday. Born on July 20, 1900, he passed away on at the age of 94 on May 6, 1995. Haberler studied with Friedrich von Wieser and Ludwig von Mises at the University of Vienna in the early 1920s, and wrote his first book on, “The Meaning of Index Numbers” (1928), an “Austrian” critique of the assumptions, constructions, limits and abuses of attempts to measure changes in the general price level
In 1933 he published “...The Theory of International Trade,” in which he restated the theory of comparative advantage, the benefits of international exchange, and the logic of free trade in the context of “opportunity cost” as foregone alternative rather than the classical economists’ focus on physical “real costs.”
In 1933 he published “...The Theory of International Trade,” in which he restated the theory of comparative advantage, the benefits of international exchange, and the logic of free trade in the context of “opportunity cost” as foregone alternative rather than the classical economists’ focus on physical “real costs.”
His international reputation was reinforced with his 1936 volume, “Prosperity and Depression,” a critical restatement of the competing theories of the causes and cures for business cycles, and his own attempted “synthesis” of a common ground among them.
While he moved away from some of his “Austrian” origins as an economist as the decades went by, he remained an uncompromising advocate of the free market economy vs. any form of central planning, strong defender of free trade, and a proponent of market-based and competitive institutional arrangements for economic development in “third world” countries.
He was a staunch opponent of government monetary policies causing inflation, and was an insightful analyst of 1970s “stagflation” – the simultaneous existence of increasing price inflation and rising unemployment – the blame for which he placed at the doorstep of Keynesian policies and union power.
For many decades he was a professor of economics at Harvard University and after his retirement he was a longtime resident scholar at the American Enterprise Institute in Washington, D. C. The AEI published many of his public policy lectures and essays as pamphlets in the 1970s and 1980s, and a good number of them remain timely commentaries on policy issues still of relevance today.
In 2000, I published in “The Freeman” an article on, “Gottfried Haberler: A Centenary Appreciation,” in which I offer a fairly detailed overview of his life and contributions.
https://fee.org/…/gottfried-haberler-a-centenary-appreciat…/
Shortly after Haberler’s death there appeared in the “Austrian Economics Newsletter” an interview that Joseph Salerno and I did with Haberler a few years earlier, “Between Mises and Keynes: An Interview with Gottfried von Haberler.”
https://mises.org/…/between-mises-and-keynes-interview-gott…
Ver maisWhile he moved away from some of his “Austrian” origins as an economist as the decades went by, he remained an uncompromising advocate of the free market economy vs. any form of central planning, strong defender of free trade, and a proponent of market-based and competitive institutional arrangements for economic development in “third world” countries.
He was a staunch opponent of government monetary policies causing inflation, and was an insightful analyst of 1970s “stagflation” – the simultaneous existence of increasing price inflation and rising unemployment – the blame for which he placed at the doorstep of Keynesian policies and union power.
For many decades he was a professor of economics at Harvard University and after his retirement he was a longtime resident scholar at the American Enterprise Institute in Washington, D. C. The AEI published many of his public policy lectures and essays as pamphlets in the 1970s and 1980s, and a good number of them remain timely commentaries on policy issues still of relevance today.
In 2000, I published in “The Freeman” an article on, “Gottfried Haberler: A Centenary Appreciation,” in which I offer a fairly detailed overview of his life and contributions.
https://fee.org/…/gottfried-haberler-a-centenary-appreciat…/
Shortly after Haberler’s death there appeared in the “Austrian Economics Newsletter” an interview that Joseph Salerno and I did with Haberler a few years earlier, “Between Mises and Keynes: An Interview with Gottfried von Haberler.”
https://mises.org/…/between-mises-and-keynes-interview-gott…
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