His great gifts as a teacher were, however, best shown in his seminar where a select circle of advanced students and many men who had long ago taken their doctor’s degree assembled. Sometimes, when practical questions were discussed, the seminar was organised on parliamentary lines with appointed main speakers pro and contra a measure. More frequently, however, a carefully prepared paper by one of the members was the basis of long discussions. Menger left the students to do most of the talking, but he took infinite pains in assisting in the preparations of the papers. Not only would he put his library completely at the disposal of the students, and even bought for them books specially needed, but he would go through the manuscript with them many times, discussing not only the main questions and the organisation of the paper, but even “teaching them elocution and the technique of breathing.”1 Read the rest of this entry »
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For one who can hardly claim to have known Carl Menger in person it is a hazardous undertaking to add to this sketch of his scientific career an appreciation of his character and personality. But as so little about him is generally known to the present generation of economists, and since there is no comprehensive literary portrait available,2 an attempt to piece together some of the impressions recorded by his friends and students, or preserved by the oral tradition in Vienna, may not be altogether out of place. Such impressions naturally relate to the second half of his life, to the period when he had ceased to be in active contact with the world of affairs, and when he had already taken to the quiet and retired life of the scholar, divided only between his teaching and his research. Read the rest of this entry »
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With the publications of the year 18922 the list of Menger’s major works which appeared during his lifetime comes to an abrupt end.
During the remaining three decades of his life he only published occasional small articles, a complete list of which will be found in the bibliography of his writings at the end of the last volume of the present
edition of his collected works. For a few years these publications were still mainly concerned with money. Of these, his lecture on Das Goldagio und der heutige Stand der Valutareform (1893), his article on money and coinage in Austria since 1857 in the Oesterreichische Staatswörterbuch (1897), and particularly the thoroughly revised edition of his article on money in volume four of the second edition of the Handwörterbuch der Staatswissenschaften (1900),1 ought to be specially mentioned. The latter publications are mainly of the character of reviews, biographical notes or introductions to works published, by his pupils. His last published article is an obituary of his disciple Böhm-Bawerk, who
died in 1914. Read the rest of this entry »
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The discussions of the Austrian “Währungs-Enquete-Commission,” of which Menger was the most eminent member, are of considerable interest quite apart from the special historical situation with which they had to deal. As the basis of their transactions the Austrian Ministry of Finance had prepared with extraordinary care three voluminous memoranda, which contain probably the most complete collection available of documentary material for monetary history of the preceding period which has appeared in any publication.1 Among the members besides Menger there were other well-known economists, such as Sax, Lieben and Mataja, and a number of journalists, bankers and industrialists, such as Benedikt, Hertzka and Taussig, all of whom had a more than ordinary knowledge of monetary problems, while Böhm-Bawerk, then in the Ministry of Finance, was one of the Government representatives and vice-chairman. The task of the commission was not to prepare a report, but to hear and discuss the views of its members on a number of questions put to them by the Government.2 These questions concerned the basis of the future currency, the retention, in the case of the adoption of the Gold Standard,of the existing silver and paper circulation, the ratio of exchange between the existing paper florin and gold, and the nature of the new unit to be adopted. Read the rest of this entry »
