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Capital and Its Structure
Publication
Author: Ludwig M. Lachmann
Online Publish Date:
Ludwig Lachmann in 1956 set out to correct the problem that the economics profession had no coherent and working understanding of capital, a concept so integral to economic science and yet not explored at length since the takeover of macroeconomics by Keynesian theory. The result was his most lasting contribution to economic theory. He expands on
The Legacy of Max Weber
Publication
Author: Ludwig M. Lachmann
Online Publish Date:
Category: Biographies
Ludwig Lachmann took a strong interest in the history of economic thought, particularly as it pertained to methodology. While he would not have claimed to be an Austrian in the Misesian tradition, his writings have influenced Austrians. Here is his study of the methodological and political legacy of Max Weber, who himself influenced Mises’s own
Macro-Economic Thinking and the Market Economy
Publication
Author: Ludwig M. Lachmann
Online Publish Date:
Category: Financial Markets
The market economy is under relentless and heavy criticism. Some of these criticisms are due to ignorance. Some, however, show a remarkably high degree of skill and sophistication. This book is devoted to a critical evaluation of some of the more sophisticated ideas deployed in this
History of the Austrian School of Economics
Media Asset
Author: Ludwig M. Lachmann
Online Publish Date:
Category: History of the Austrian School of Economics, Biographies
Biographical remarks about Lachmann (1906-1990). Then, Lachmann describes Austrian economics as being subjectivism (individual human action), a certain attitude to time (the future is unknowable), and a distrust of macroeconomic entities (they exist, but Austrians look at macro as mechanistic). Lachmann recommends Menger, Jevons and Walras
History of the Austrian School of Economics: Question and Answer Session
Media Asset
Author: Ludwig M. Lachmann
Online Publish Date:
Category: History of the Austrian School of Economics, Biographies, Education
  Was George Stigler sympathetic to the Austrian school? Lachmann doesn’t think so because Stigler was a favorite student of Knight. Austrians should have dealt with Keynes, instead they quarreled with Knight. What policies do Austrians pursue? Those that favor the market. Is Milton Friedman an Austrian? Austrians agree with whatever Friedman says
The Market and the Distribution of Wealth
Mises Daily
Author: Ludwig M. Lachmann
Online Publish Date:
Category: Entrepreneurship, Free Markets
[ On Freedom and Free Enterprise: Essays in Honor of Ludwig von Mises (1956)]   “The market gives wealth to those who can hold it, while politicians give it to their constituents who, as a rule, cannot.” Everywhere today in the free world we find the opponents of the market economy at a loss for plausible arguments. Of late the “case for central
An Interview with Ludwig Lachmann
Austrian Economics Newsletter
Author: Ludwig M. Lachmann
Online Publish Date:
Category: Capital and Interest Theory, Philosophy and Methodology, Biographies
Volume 1, Number 3 (Fall 1978)   Professor Ludwig M. Lachmann, one of the most prominent members of the Austrian school, has centered his long and productive career around the importance of subjectivism in economics. From his early work on the role of expectations to his more recent endeavors in capital theory and the market process, Lachmann has