1911 Encyclopædia Britannica/Boehm von Bawerk, Eugen

BOEHM VON BAWERK, EUGEN (1851–  ), Austrian economist and statesman, was born at Brünn on the 12th of February 1851. Entering the Austrian department of finance in 1872, he held various posts until 1880, when he became qualified as a teacher of political economy in the university of Vienna. The following year, however, he transferred his services to the university of Innsbruck, where he became professor in 1884. In 1889 he became councillor in the ministry of finance, and represented the government in the Lower House on all questions of taxation. In 1895 and again in 1897–1898 he was minister of finance. In 1899 he was made a member of the Upper House, and in 1900 again became minister of finance. One of the leaders of the Austrian school of economists, he has made notable criticisms on the theory of value in relation to cost as laid down by the “classical school.” His more important works are Kapital und Kapitalzins (Innsbruck, 1884–1889), in two parts, translated by W. Smart, viz. Capital and Interest (part i., 1890), and The Positive Theory of Capital (part ii., 1891); Karl Marx and the Close of his System (trans. A. M. Macdonald, 1898); Recent Literature on Interest (trans. W. A. Scott and S. Feilbogen, 1903).