State of Innovation

Is Carl Menger a Socialist?

According to this article Menger in “Carl Menger’s Lectures to Crown Prince Rudolf of Austria (trans. Monika Streissler and David F. Good; Aldershot, 1994)” argues for:

(1) public works constructed by the state such as roads, railways and canals.

(2) government established agricultural and vocational training institutions (Menger 1994: 123).

(3) government subsidies to certain sectors

(4) state intervention to stop clearing of forests on private property in the mountains of Austria when this clearing had serious and bad effects on agriculture

(5) government intervention to stop child labour (Menger 1994: 129).

Carl Menger is often touted as the savior of Austrian Economics, but assuming all the above is true he is hardly a principled capitalist.  In fact he sounds like a standard conservative who is against government intrusion in the economy until he is for it.

June 25, 2016 - Posted by dbhalling | -Economics