History of Economic Thought. Economic views of F. Wieser (the most important)

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History of Economic Thought. Economic views of F. Wieser (the most important)

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48. ECONOMIC VIEWS OF F. WIESER

Friedrich von Wieser (1851-1926) - no less eminent representative of the Austrian school, one of the closest associates Carl Menger. Baron F. VizerHaving received a university education, he devoted himself almost entirely to research and teaching.

Propaganda, improvement and popularization of the teachings of the Austrian school were carried out F. Wieser in all his publications, including such as "On the Origin and Basic Laws of Economic Value", "Natural Value" и "Theory of Social Economy".

To a notable contribution Vizera economic science should include the introduction into scientific circulation of the terms "Gossen's laws", "marginal utility", "imputation".

In general, views Vizera largely repeat the judgments of his colleagues in the Austrian school, but there are concepts and judgments. Among them are:

1) method for determining total utility.

In his opinion, each unit of stock should be valued on the basis of marginal utility. So the total value of the stock will be calculated by simply multiplying marginal utility by the total number of like units. This method of determining total utility is usually called multiplicative;

2) his judgment that the sum of all income shares attributed to a given combination of factors of production should be no more and no less than the value of the product itself. In other words, there must be a perfectly proportional distribution;

3) the study of extremely important issues within its "income imputation theory". In connection with this problem, he focuses on characterizing the category of "private property" and questions of private organization of the economy.

F. Vizer comes to the conclusion that private property draws its meaning from the logic of management. At the same time, as three arguments in favor of such a judgment are called:

a) the need for a careful attitude to the expenditure of economic benefits in order to protect their property from other applicants;

b) the importance of the question of "mine" and "yours";

c) legal guarantees for the economic use of the property.

private property F. Vizer considers in close connection with the problem of private organization of the economy. According to him, private economic order - the only historically justified form of a large social economic union, the experience of centuries has proven more successful social interaction than with general subordination by order. Therefore, recognizing the legitimacy of only the private economy, he believes that society should not reject the rights of private ownership, otherwise, very soon the state would become the sole owner of all means of production, which, however, should by no means happen, since it does not able to manage these means of production as efficiently as private individuals do;

4) the judgment that the political and social climate that affects personal distribution can change the order of income distribution, consistent with functional theory.

Author: Tatarnikov E.A.

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