The archive.

Must wartime price increases be reversed before foreign trade can recover? In this review of Robert Liefmann’s study of monetary expansion, Alfred Amonn challenges that prescription by distinguishing exchange-rate stability from restoration of a lower price level. He accepts that new money raises prices through incomes and demand, but disputes Liefmann’s claim to have discovered this mechanism. His sharper objection concerns causation: he treats rising domestic prices and currency depreciation as parallel effects of monetary expansion, rather than the former as the cause of the latter. The review offers a compact encounter with economic criticism in practice, showing why higher import prices measured in marks do not, in Amonn’s argument, necessarily mean paying more in goods or labor.

A common customs frontier does not imply a common economic interest. In this 1902 article, Eugen von Philippovich examines tariff negotiations in a monarchy whose economic unity depends on a renewable agreement between Austria and Hungary. His revealing example is grain protection: Hungary’s agricultural exporters can benefit from import duties because the shared customs territory has become a net grain importer, leaving Austrian consumers to bear higher food costs. By tracing such conflicts through constitutional procedures and organised pressure on bureaucracies, Philippovich shows why tariff policy cannot be read simply from parliamentary decisions. Germany’s proposed tariff adds an external constraint, encouraging even export interests to support retaliatory bargaining measures. The article offers a concrete account of how internal distributional struggles can turn hopes of commercial cooperation into competitive protectionism.

Böhm-Bawerk’s fiscal career becomes a defence of abstract economics in this dictionary entry by his lifelong friend and fellow Austrian economist Friedrich von Wieser. Wieser credits his colleague’s scientific training with the clarity needed to reform taxation, strengthen state credit and manage public finances—directly answering critics who regarded Austrian theory as remote from practical life. The appreciative portrait also makes room for disagreement: Wieser explains Böhm-Bawerk’s account of interest through the lower valuation of distant needs, while acknowledging its divided reception. This compact assessment shows how an intellectual ally connects theoretical precision with administrative judgment, yet distinguishes the value of Böhm-Bawerk’s research from acceptance of his central explanation of interest.

A brief private note, written two days before Christmas 1937, catches Alfred Schütz in an ordinary moment between his phenomenological labors. Just back from Paris, he has carried home an issue of the Revue de Paris for its essay by Paul Valéry, which he presses on his correspondent with the request that it be returned once read. He adds a book as a Christmas gift, should the friend not already own it, and sends warm wishes to him and his wife. Slight in itself, the letter survives as a small biographical trace of the émigré scholar's Parisian ties and reading life on the eve of war—a fragment of correspondence rather than a work of theory.

An economist’s lasting contribution need not lie in solutions that survive criticism. In this brief review of Edgeworth’s Papers relating to Political Economy, Ludwig von Mises locates much of Edgeworth’s value in his ability to expose weaknesses in others’ arguments and formulate difficult problems. His appreciation is discriminating: he questions the gains from mathematical reformulation and judges substantial portions of the collection superseded, while insisting that later obsolescence does not cancel original achievement. The review offers a compact view of Mises as a reader of another economist—skeptical of analytical effort without explanatory returns, attentive to the historical claims of outdated work, and appreciative of Edgeworth’s plea against mutual disparagement between theoretical and historical inquiry.

A farmer can increase output, calculate carefully, and still become poorer. In this two-installment article of 1927–1928, Wilhelm Röpke examines why commercially advanced American agriculture remained vulnerable to debt, falling prices, and costs that resisted adjustment. His regional comparisons challenge easy equations between low yields and backwardness, or large acreage and the disappearance of family farming. The central tension is between individual enterprise and collective outcomes: responses to yesterday’s prices can produce tomorrow’s glut. This gives his criticism of the McNary-Haugen bill a specific edge—higher supported prices, without control of output, risk renewing the surplus they are meant to relieve. Röpke instead presses the case against industrial tariffs, showing how farmers could buy in a protected market while selling at world prices.

Opposition to communism, Röpke warns, need not prevent a state from copying Soviet methods of control. This newspaper article tests that distinction through accounts of Soviet Russia by M. Polányi, W. H. Chamberlin and André Gide. Röpke connects the failures of economic monopoly—poor goods, inadequate food, indifference to consumers—to the suppression of independent judgment. Gide’s disillusionment sharpens his question: why did an artist committed to individual creation expect freedom from collectivist organization? The article makes visible both Röpke’s institutional understanding of liberty and the contested reach of his conclusion: he treats Soviet experience not merely as evidence against one regime, but as grounds for arguing that socialist planning necessarily entails political dictatorship.

A stronger krone need not mean a richer Austria. In this article, Alfred Amonn challenges the demand for currency appreciation by separating money’s numerical value from the goods and services it can command. Against Emanuel Hugo Vogel, he argues that raising the exchange rate cannot create purchasing resources for the country; it can, however, redistribute income toward creditors while disrupting production. His alternative—stable domestic purchasing power—also presents a practical difficulty: Austria’s controlled prices, fiscal deficit, and delayed inflationary effects make existing monetary relationships unsuitable for immediate stabilization. The article connects a precise dispute over the aim of monetary policy with the difficult sequencing of reconstruction, showing why fiscal repair and price adjustment must, in Amonn’s account, precede durable stability.

Farmers building their own oil refineries give Hans Bayer a concrete alternative to accounts of American economic life dominated by free competition or monopoly. In this two-installment journal article, he follows cooperatives that moved beyond purchasing and marketing into production when powerful suppliers threatened their independence. Their expansion raises the central tension: how can organizations acquire the scale needed to confront large corporations without sacrificing democratic control? Bayer locates the answer in federations built from below, linking local initiative to national coordination. His affirmative account lets readers examine economic democracy through practical arrangements—member ownership, collective investment, and representation in agricultural planning—rather than as an abstract ideal. The distinctive interest lies in his treatment of industrial scale as a possible instrument of self-help, not necessarily its enemy.

Protecting a trade is not necessarily the same as protecting the people who practise it. In Der verschärfte Befähigungsnachweis, Markus Ettinger turns this distinction against stricter occupational qualification requirements, arguing that barriers supported by struggling masters could block their children’s advancement while favouring larger firms. His case follows concrete commercial connections: restrictions on provincial clothing and footwear dealers could deprive Viennese subcontractors of orders and drive them into competition with local bespoke producers. Yet his defence of open entry is not a rejection of collective regulation. Cooperative purchasing, regulated price agreements and labour protection offer alternative means of securing livelihoods. Ettinger’s study exposes the tension between excluding competitors and sustaining the wages, demand and mobility on which artisans themselves depend.

A prosperous pension fund need not mean a secure old age for the employees it claims to serve. In this 1894 collection of articles, Siegmund Feilbogen tests voluntary insurance against the needs of commercial employees exposed to business failures and denied the pension security of state officials. His case for compulsory provision combines social reform with actuarial restraint: early contributions and employer participation must finance credible benefits, not promises of comfortable retirement at negligible cost. Comparing institutions in Austria, Germany, France and Britain, he asks who actually joins, who withdraws, and what happens when incapacity precedes pension age. The resulting distinction between institutional success and effective protection gives concrete substance to his central question: when does individual thrift require a compulsory framework to become dependable security?

A child-labour law could penalize the manufacturer who obeyed it while leaving competitors free to exploit children. This practical contradiction anchors Viktor Mataja’s study of French labour protection from the campaigns preceding the 1841 law to the threshold of reform in 1874. Drawing on parliamentary debates, administrative reports and workers’ newspapers, Mataja asks why protective principles so often failed to become effective safeguards. He locates responsibility not only in weak statutes but in unpaid, socially dependent inspectors, unused administrative powers and political resistance to workers’ independence. His account also exposes tensions within reform itself: restrictions on children’s work threatened household earnings, while imperial welfare concessions could serve political control. The reader discovers how inspection, competitive pressures and workers’ ability to organize shaped what legislation actually delivered.