Ludwig Lachmann’s Followers (14)

Ludwig Lachmann

Born

in Berlin, Germany

February 01, 1906

Died

December 17, 1990

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German economist who became a member of and important contributor to the Austrian School of economics.
He grew to believe that the Austrian School had deviated from Carl Menger's original vision of an entirely subjective economics. To Lachmann, Austrian Theory was to be characterized as an evolutionary, or "genetic-causal", approach against the equilibrium and perfect knowledge found in mainstream Neoclassical economics.
Lachmann's "fundamentalist Austrianism" was rare—few living Austrian economists saw their work as departing from the mainstream. He underscored what he viewed as distinctive from that mainstream: economic subjectivism, imperfect knowledge, the heterogeneity of capital, the business cycle, methodological individualism, alterna ...more

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Ludwig Lachmann’s books

Average rating: 3.99 · 99 ratings · 7 reviews · 10 distinct works

	Capital and Its Structure (Studies in economic theory) 4.09 avg rating — 43 ratings — published 1956 — 8 editions	Error rating book. Refresh and try again. Rate this book Clear rating 1 of 5 stars 2 of 5 stars 3 of 5 stars 4 of 5 stars 5 of 5 stars
	The Legacy of Max Weber 3.93 avg rating — 15 ratings — published 1970 — 8 editions	Error rating book. Refresh and try again. Rate this book Clear rating 1 of 5 stars 2 of 5 stars 3 of 5 stars 4 of 5 stars 5 of 5 stars
	Capital, Expectations, and the Market Process: Essays on the Theory of the Market Econony (Studies in Economic Theory) really liked it 4.00 avg rating — 11 ratings — published 1977 — 4 editions	Error rating book. Refresh and try again. Rate this book Clear rating 1 of 5 stars 2 of 5 stars 3 of 5 stars 4 of 5 stars 5 of 5 stars
	New Directions in Austrian Economics by Louis M. Spadaro (Editor), Ludwig Lachmann, Roger W. Garrison 3.50 avg rating — 12 ratings — published 1978 — 4 editions	Error rating book. Refresh and try again. Rate this book Clear rating 1 of 5 stars 2 of 5 stars 3 of 5 stars 4 of 5 stars 5 of 5 stars
	Macro-economic Thinking and the Market Economy 4.14 avg rating — 7 ratings — published 1973 — 4 editions	Error rating book. Refresh and try again. Rate this book Clear rating 1 of 5 stars 2 of 5 stars 3 of 5 stars 4 of 5 stars 5 of 5 stars
	Expectations and the Meaning of Institutions: Essays in Economics by Ludwig M. Lachmann (Routledge Foundations of the Market Economy) by Ludwig Lachmann, Don Lavoie (Editor) 4.20 avg rating — 5 ratings — published 1994 — 8 editions	Error rating book. Refresh and try again. Rate this book Clear rating 1 of 5 stars 2 of 5 stars 3 of 5 stars 4 of 5 stars 5 of 5 stars
	The Market As an Economic Process really liked it 4.00 avg rating — 3 ratings — published 1986 — 2 editions	Error rating book. Refresh and try again. Rate this book Clear rating 1 of 5 stars 2 of 5 stars 3 of 5 stars 4 of 5 stars 5 of 5 stars
	Subjectivism and Economic Analysis (Routledge Frontiers of Political Economy) really liked it 4.00 avg rating — 3 ratings — published 1998	Error rating book. Refresh and try again. Rate this book Clear rating 1 of 5 stars 2 of 5 stars 3 of 5 stars 4 of 5 stars 5 of 5 stars
	Wstęp do austriackiej szkoły ekonomii by Mateusz Benedyk, Mateusz Machaj, Robert P. Murphy it was amazing 5.00 avg rating — 1 rating — published 2019	Error rating book. Refresh and try again. Rate this book Clear rating 1 of 5 stars 2 of 5 stars 3 of 5 stars 4 of 5 stars 5 of 5 stars
	Il mercato e la distribuzione della ricchezza (FREEdom Vol. 1) (Italian Edition) 0.00 avg rating — 0 ratings — published 2012	Error rating book. Refresh and try again. Rate this book Clear rating 1 of 5 stars 2 of 5 stars 3 of 5 stars 4 of 5 stars 5 of 5 stars

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Quotes by Ludwig Lachmann (?)

“The generic concept of capital without which economists cannot do their work has no measurable counterpart among material objects; it reflects the entrepreneurial appraisal of such objects. Beer barrels and blast furnaces, harbour installations and hotel-room furniture are capital not by virtue of their physical properties but by virtue of their economic functions. Something is capital because the market, the consensus of entrepreneurial minds, regards it as capable of yielding an income. This does not mean that the phenomena of capital cannot be comprehended by clear and unambiguous concepts. The stock of capital used by society does not present a picture of chaos. Its arrangement is not arbitrary. There is some order in it.”
― Ludwig Lachmann, Capital and Its Structure

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“A progressive economy is not an economy in which no capital is ever lost, but an economy which can afford to lose capital because the productive opportunities revealed by the loss are vigorously exploited.”
― Ludwig Lachmann, Capital and Its Structure

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“Both, business expectation and scientific hypothesis serve the same purpose; both reflect an attempt at cognition and orientation in an imperfectly known world, both embody imperfect knowledge to be tested and improved by later experience. Each expectation does not stand by itself but is the cumulative result of a series of former expectations which have been revised in the light of later experience, and these past revisions are the source of whatever present knowledge we have”
― Ludwig Lachmann

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Ludwig Lachmann’s Followers (14)

Ludwig Lachmann

Combine EditionsLudwig Lachmann’s books

Combine Editions
Ludwig Lachmann’s books