Ludwig M. Lachmann: Last Member of the German Historical School

Hans L. Eicholz

Journal of Contextual Economics (JCE) – Schmollers Jahrbuch, 2017, vol. 137, issue 3, 227-260

Abstract: Ludwig M. Lachmann is well known for his embrace of certain aspects of Max Weber’s sociological work. While subjectivism in value theory is often regarded as a distinctive Austrian insight, the attempt to understand the content of subjective purposes is largely associated with historical and sociological perspectives. That Lachmann came to study with Hayek in England only after his graduate years with Werner Sombart thus raises interesting questions about the degree to which his Austrianism came to be influenced by his earlier German Historical School (GHS) training. That he also often included Weber in the Austrian School underscores the importance of this question, especially since Weber himself claimed membership in the youngest generation of the GHS. Was Lachmann in fact the very youngest member of that tradition?

JEL-codes: B15 B25 B31 (search for similar items in EconPapers)
Date: 2017
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