Karlheinz Muhr Library

The Complete “Austrian School of Economics” Collection


© 2026 Karlheinz Muhr Library·Conceptualized, designed & built bykrin.ai↗
Karlheinz Muhr Library
ArchiveTimelineLibrarian
Sign in

The archive.

1,549 works, 150 years of economic thought. Each one summarized and searchable, with cited passages inside.

▾··Arranged by ,
1–1 of 1 matches · 1,549 works totalPage 1 of 1; every summary opens into its work.
  1. 1973
    Long Term Projections of Power: Political, Economic, and Military Forecasting

    Long Term Projections of Power: Political, Economic, and Military Forecasting

    Oskar Morgenstern, Klaus Knorr, and Klaus P. Heiss · 55 sections

    Forecasting the future balance of power tempts planners to mistake projection for knowledge, and this collaborative study sets out to discipline the temptation. Morgenstern, Knorr, and Heiss treat power as a composite of economic capacity, technological change, military organization, and political will, elements that resist extrapolation to very different degrees. Engineering development can be projected within wide error bounds; decisive scientific breakthroughs cannot. They dissect the methods of the day, from the Delphi technique and Wilhelm Fucks's physics-styled power indices to Kahn and Wiener's scenarios and the Limits to Growth simulation, faulting each for suppressing the historical turning points that dominate real outcomes. Energy dependence emerges as their one firm warning, leaving Japan and Western Europe strategically exposed, while China's trajectory hinges on unpredictable political persistence. Armed force, they insist, becomes power only through the will to use it.

    Our work has impressed us with the inherent difficulties of forecasting although we realize that objects of forecasting vary greatly in their conjecturability.