EUGEN

BOEHM VON BAWERK (1851– )  , Austrian economist and statesman, was born at Brunn on the 12th of February 1851 . Entering the Austrian department of finance in 1872, he held various posts until 188o, when he became qualified as a teacher of political economy in the university of Vienna . The following year, however, he transferred his services to the university of Innsbruck, where he became professor in 1884 . In 1889 he became councillor in the ministry of finance, and represented the government in the Lower House on all questions of taxation . In 1895 and again in 1897–1898 he was minister of finance . In 1899 he was made a member of the Upper House, and in 1900 again became minister of finance . One of the leaders of the Austrian school of economists, he has made notable criticisms on the theory of value in relation to cost as laid down by the " classical school." His more important works are Kapital and Kapitalzins (Innsbruck, 1884-1889), in two parts, translated by W . Smart, viz . Capital and Interest (part i., 189o), and The Positive Theory of Capital (part ii., 1891); Karl Marx and the Close of his System (trans . A . M . Macdonald, 1898); Recent Literature on Interest (trans .

W . A .

Scott and S . Feilbogen, 1903) .