Böhm-Bawerk: Austrian Economist Who Said “No” to Big Government

Austrian economist Eugen von Böhm-Bawerk was one of the greatest economists who ever lived, and in my own personal top five.

As finance minister in the prewar Austro-Hungarian government, he was a fierce opponent of bad money, big government, and the nationalism and militarism that led his country to start the brush war that became the first world war.

He died a hundred years ago this week, just as the war was starting and (in Edward Grey’s phrase) as the lamps were going out around Europe. A man in love with the freedom and culture those lamps lit up, it was said that he died of a broken heart.

This guest post by Richard Ebeling tells some of his story.

Here: http://pc.blogspot.co.nz/2014/09/bohm-bawerk-austrian-economist-who-said.html

What Marx called the capitalists’ “exploitative profits” Böhm-Bawerk showed to be the implicit interest payment for advancing money to workers during the time-consuming, roundabout processes of production.

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Böhm-Bawerk: Austrian Economist Who Said “No” to Big Government

Böhm-Bawerk: Austrian Economist Who Said “No” to Big Government

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