Bohm bawerk biography for kids

The Austrian economist Eugen von Böhm-Bawerk is known for his achievements in public finance, criticism of the Marxian system, and an original reformation of the theory of capital and interest.

Eugen von Böhm-Bawerk was born Feb.

12, , the son of the vice president of the Moravian provincial government at Brno in Moravia. He was educated in Vienna and, after completing his legal and economic education, devoted a part of his career to the civil service in the Austrian-Hungarian monarchy and the other part to scientific work in economics.

In he started his university career with a pamphlet, "Whether Legal Right and Relationships Are Economic Goods." Between and he published his standard work, Capital and Interest, which made him famous.

The first volume contained a history of interest theories. The second volume, The Positive Theory of Capital, was published in In this work Böhm-Bawerk, like other members of the Austrian school, claimed