Eugen von Böhm-Bawerk (Moravie February 12th 1851 - August 27th 1914) is a Austrian economist .

He contributed to the development of the Austrian school of economy. He studied at the university of Vienna at the time where Carl Menger “Grundsätze der Volkswirtschaftslehre” (" published; Principles of the economy politique" , 1871). Its thought will be largely influenced by the teaching of Menger received at that time. It will also meet at the university of Vienna Friedrich von Wieser, another member of the Austrian school of economy and its future brother-in-law.

Its definition of the Investment as “turning of production” remained famous. The idea is that one spends of the money and time (out of machines, in education) to better produce more and. It developed the analysis of the interest like a reflection of the temporal preference , refuting the Marxist analysis of the " Appreciation " by showing that the income of interest does not depend on the number nor even of the presence of employed persons - but without emerging completely, as Ludwig von Mises will make it, of one reference to the " marginal productivity of the capital".

He will be on several occasions Minister for Finance but continued his career of academic, teacher with Innsbrück before returning to Vienna in 1904. Among its pupils appear Joseph Schumpeter, Ludwig von Mises or Henryk Grossman.

External bonds

• Biography on Ludwig von Mises Institute