Richard Ritter von Strigl (1891–1942) was one of the most brilliant Austrian economists of the interwar period. As a professor at the University of Vienna he had a decisive influence on Hayek, Machlup, Haberler, Morgenstern, and other fourth-generation Austrian economists. Very few classic works on capital and business cycles in the Austrian
There are as many causes for fluctuations in economic life as there are external conditions of economizing. Each of these conditions can change and thereby effect a change in the course of the economic process. If the economy is affected to a greater extent, if farther reaching changes prove necessary and, in particular, if a lasting change in an
[This is an excerpt from Richard von Strigl’s 1937 textbook Einführung in die Grundlagen der Nationalökonomie , as found in chapter 3, part 5: “Die Lehre vom wirtschaftlichen Werte.” It is here presented in the English language for the first time. The translator, Pedro Almeida Jorge, from Instituto Mises Portugal, would like to thank Dr. Eduard
[Este es un extracto del libro de texto Einführung in die Grundlagen der Nationalökonomie de Richard von Strigl de 1937, que se encuentra en el capítulo 3, parte 5: «Die Lehre vom wirtschaftlichen Werte». El traductor, Pedro Almeida Jorge, del Instituto Mises Portugal, agradece al Dr. Eduard Braun, de la Technische Universitat Clausthal, por su
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.