Bruce Caldwell has disputed a number of points in my earlier account of the development of the Austrian school of economics from Carl Menger to Ludwig von Mises and F.A. Hayek. The issues in contention regard Friedrich von Wieser’s intellectual affiliation with Hayek and his influence on the formation of Hayek’s economic thought; Wieser’s status as a general equilibrium theorist; and the reason for Hayek’s early flirtation with general equilibrium theory. In this article I argue that Hayek was a self-conscious (...) adherent of the Wieserian tradition and remained so even after he received the Nobel Prize in 1974 and that he distinguished between this tradition and the Böhm-Bawerkian tradition followed by Ludwig von Mises. I also contend that Wieser used the construction of a general equilibrium economy subject to a single will as both a normative benchmark by which to appraise the performance of the real-world market economy and as an analytical tool to explain the formation of market prices. Finally, I argue that Hayek concerned himself with the problems of the Wieser-type general equilibrium economy beginning with his earliest writings as a professional economist, years before he began to focus on the theoretical problems of money and the business cycle.Bruce Caldwell a discuté un certain nombre de points de mon article récent sur le développement de l’école autrichienne d’économie de Carl Menger en passant par Ludwig von Mises et F.A. Hayek. Les controverses concernant l’affiliation intellectuelle de Hayek vis-à-vis de Friedrich von Wieser et l’influence de ce dernier sur la pensée économique de Hayek, le statut de Wieser en tant que théoricien de l’équilibre général, et les raisons pour lesquelles le jeune Hayek flirta avec la théorie de l’équilibre général.Dans cet article je défends la thèse selon laquelle Hayek était conscient du fait qu’il s’inscrivait dans la tradition Wieserienne et qu’il l’était toujours même après sa réception du prix Nobel en 1974 et quand il fît la distinction entre cette tradition et la tradition inaugurée par Böhm-Bawerk et poursuivie par Mises. L’article affirme aussi que Wieser utilisa la construction d’une économie en équilibre général sujette à une volonté unique à la fois comme standard normatif pour évaluer les performances des marchés dans le monde réel et comme outil analytique pour expliquer la formation des prix marchands. Enfin, l’article argumente que Hayek s’intéressa aux problèmes relevant d’une économie en équilibre général à la Wieser dans ses premiers écrits en tant qu’économiste et cela bien avant qu’il ne se concentrât sur les problèmes théoriques de la monnaie et du cycle des affaires. (shrink)

One of the most important areas in which Cantillon influenced J, B. Say involves a set of issues which receives no explicit treatment in the assai. I refer to the distinc-.

The French liberal school, the school of Frédéric Bastiat, thoroughly dominated economics in France for most of the nineteenth century. In addition, the school exercised a profound influence on the development of nineteenth-century economic theory outside France, particularly in countries such as Italy, Germany and Austria where its merits were recognized by eminent Continental marginalists including Böhm-Bawerk, Cassel, Wicksell and Pareto. In the United States, Great Britain and Australia, also, the school inspired a number of important economic theorists and movements (...) such as William Stanley Jevons and the American catallactic tradition. Yet despite its significant international influence, the school has been almost completely neglected by Englishspeaking economists and doctrinal scholars after World War One. In this paper, I suggest that the resolution of this puzzle lies in a conjunction of peculiar institutional and doctrinal circumstances that accompanied the professionalization of economics in France, Great Britain and the United States.L’école libérale française, celle de Frédéric Bastiat, domina totalement la pensée économique en France pendant une majeure partie du dixneuvième siècle. De plus, l’école exerça une influence profonde sur le développement de la théorie économique à l’extérieur de la France, en particulier dans des pays tels que l’Allemagne et l’Autriche. Dans ces pays, les mérites de l’école furent reconnus par des marginalistes continentaux aussi éminents que Böhm-Bawerk, Cassel, Wicksell et Pareto. L’école inspira aussi un nombre important d’économistes et de mouvements aux Etats-Unis, en Angleterre et en Australie tels que William Stanley Jevons et la tradition catallactique américaine. Néanmoins, en dépit de cette influence internationale, l’école a été presque totalement négligée par les économistes de langue anglaise et par les penseurs doctrinaux après la première guerre mondiale. Dans cet article, l’auteur suggère que la solution à cette énigme se trouve dans la conjonction de circonstances institutionnelles et doctrinales particulières qui accompagna la professionnalisation de l’économie en France, en Grande- Bretagne et aux Etats-Unis. (shrink)

Frédéric Bastiat was a member of the French liberal school, which thoroughly dominated economics in France from the beginning of the nineteenth century until the 1880’s and continued to exert a strong intellectual influence right up to the eve of World War One. He was neither the school’s founder, nor its most profound theorist, nor even the most consistent defender of the laissez-faire implications of its economic theories. He was however the most gifted expositor of its politico-economic doctrines, and as (...) such, is the economist associated with this school whose name evokes greatest recognition among contemporary Anglo-American economists. Thus I refer to “Bastiat’s school” In an earlier article, I detailed the profound influence that the French liberal school had on the development of nineteenth-century economic theory not only in France and other Continental countries, particularly Italy, Germany and Austria, but also in the United States, Great Britain and Australia.. In this article, I also criticized the attempts of a number of economists who were conversant with, if not sympathetic to, the French liberal school, including Joseph Schumpeter, Karl Pribram, and Peter Groenewegen, to explain its almost complete neglect by Anglo-American economists and historians of thought after World War One. Their explanations boiled down to three main claims. First, the leaders of the school succeeding its founder J.-B. (shrink)