1. Ludwig Lachmann wrote on economic theory, history, and methodology, as well as on the application of Hermeneutics to economic thought, in order to interpret economic phenomena.
18 Facts About Ludwig Lachmann
1. 2.
Ludwig Lachmann was born in Berlin, Germany on 1 February 1906 into a Jewish middle-class family.
3.
Ludwig Lachmann's father was a metal manufacturer, and his mother came from an intellectual background and had a strong influence on young Ludwig.
4.
Ludwig Lachmann was an only child, and initially was educated by his mother, but was later enrolled in Askanisches High School.
5.
Ludwig Lachmann took a semester at the University of Zurich in 1926, and around the same time, he was introduced into the works of Ludwig von Mises and Friedrich Hayek.
6.
Ludwig Lachmann graduated in 1930, and spent a few years to teach at the University.
7.
Ludwig Lachmann deepened his interest in the Austrian School, and was one of the few who chose Hayek's side, though not uncritically, following the so-called 'Keynesian Revolution'.
8.
In 1938, Ludwig Lachmann was awarded the Leon Fellowship from the University of London to study 'secondary depressions'.
9.
Ludwig Lachmann served as president of the Economic Society of South Africa from 1962 to 1963.
10.
In 1974, a conference on Austrian economics was organized in South Royalton, Vermont, in which Ludwig Lachmann was a key speaker, along with Israel Kirzner and Murray Rothbard.
11.
Ludwig Lachmann was engaged in an economic debate with Kirzner regarding notions of equilibrium, and the role of the entrepreneur Ludwig Lachmann continued this work from 1975 to 1987, when he re-retired to Johannesburg.
12.
Ludwig Lachmann met his future wife, Margot Wulff, in the late 20's at an Italian language class.
13.
Ludwig Lachmann himself has been described as "a very unusual man" and an "old world European gentleman" and one with a personality that left a lasting impression on those who knew him.
14.
Ludwig Lachmann was described as both intentionally and unintentionally humorous.
15.
Ludwig Lachmann grew to believe that the Austrian School had deviated from Carl Menger's original vision of an entirely subjective economics.
16.
Ludwig Lachmann was a strong advocate of using hermeneutic methods in the study of economic phenomena.
17.
Ludwig Lachmann underscored what he viewed as distinctive from that mainstream: economic subjectivism, imperfect knowledge, the heterogeneity of capital, the business cycle, methodological individualism, alternative cost and "market process".
18.
Ludwig Lachmann's work influenced later American developments of the Austrian School.