2,793 works, 150 years of economic thought. Each one summarized and searchable, with cited passages inside.
It is the carrying out of new combinations, new goods, new methods, new markets, new forms of organization, rather than saving or shifting consumer tastes, that drives a stationary economy off its established path. Distinguishing the entrepreneur sharply from the capitalist, the manager, and the inventor, Schumpeter makes the banker the 'ephor' of the exchange economy, the producer of purchasing power whose credit creation pulls productive means from their old uses. From this he derives entrepreneurial profit as a temporary surplus soon eroded by imitation, capital interest as a kind of tax levied upon that profit, and the Konjunkturzyklus as the swarm-like clustering of innovations followed by the economy's painful absorption of them. Against Walrasian statics, here in the seventh German edition of the 1911 original, development is endogenous, discontinuous, and destructive.
Der Unternehmergewinn ist ein Kostenüberschuß.
English translation: “Entrepreneurial profit is a surplus over costs.”
Why should capital yield a recurring income to its owner even when no labor is performed? This 1911 encyclopedia article makes that puzzle—not the mere contractual payment on a loan—the central problem of interest theory, reframing the ancient moral quarrel over usury as a modern question about capital as such. Böhm-Bawerk sorts pure capital interest from rent, risk premia, and management wages, surveys six rival doctrines from productivity to socialist exploitation, and faults each. His own answer locates interest in the premium men place on present goods over future goods of the same kind and number, a premium rooted in uncertainty, the underrating of remote wants, and the technical superiority of longer production. The rate itself, he argues, tracks accumulated real capital against demand—not the mere abundance of money.
Die zwischen beiden bestehende Wertdifferenz muß ausgeglichen werden durch ein gewisses Aufgeld, das auf die minderwertigen künftigen Güter geleistet wird, und dieses Aufgeld ist der Zins.
English translation: “The difference in value existing between the two must be balanced by a certain premium paid upon the less valuable future goods, and this premium is interest.”
Finding a job and learning a trade are not the same achievement. In this 1912 double review of J. Altenrath’s Berufswahl und Lehrstellenvermittlung and Werner Mischler’s Lehrlingsvermittlung, Eugen Peter Schwiedland treats that difference as a problem of both economic productivity and youth protection. Altenrath’s account of ill-informed occupational choice and Mischler’s description of apprenticeship placement in Graz prompt concrete proposals: introduce pupils to working life before they leave school, develop specialist youth placement services, and sustain assistance after employment begins. Schwiedland’s distinctive concern is how institutions acquire and share practical knowledge. The review shows why, for him, effective guidance requires both coordinated administration and advice grounded in changing local conditions—not merely a vacancy and a willing applicant.
Did declining military fitness demonstrate deteriorating adolescent health, or merely stricter recruitment standards? Eugen Peter Schwiedland’s 1912 double review of J. Kaup’s proposals and the proceedings of the Gesellschaft für Soziale Reform preserves this disagreement while tracing a practical case for protecting young workers. His synthesis links medical examinations and occupational guidance to conditions beyond the workplace: paid leave means little without affordable accommodation, and nutritional instruction needs provision for adequate meals. Schwiedland connects proposed youth residences with his own earlier work, while reporting Gruber’s challenges to Kaup’s evidence. The review offers a compact encounter with preventive reform whose rationale combines protection from industrial injury with explicitly gendered expectations of military, occupational, and reproductive capacity.
Social institutions shape economic life—but does that explain the size of a wage or the payment of interest? In this 1912 review of two books by R. Stolzmann, Joseph A. Schumpeter welcomes attention to law, custom, and ethical forces while challenging the claim that they provide an alternative to economic theory. His card-game analogy sharpens the distinction: establishing the possibilities of play does not determine its outcome. Likewise, socially necessary incomes still have to be obtained through exchange, whose mechanisms require explanation. The review offers a precise account of what methodological individualism need—and need not—assume: even a collectively deciding community can serve as an analytical unit. Its interest lies in Schumpeter’s effort to defend pure theory without denying the social formation of its premises.
What does a price in a historical document mean beyond its supposed equivalent in modern money? In this short 1912 review of Andreas Walther’s Geldwert in der Geschichte, Ludwig von Mises endorses the effort to recover prices’ social meaning, yet challenges Walther’s reliance on “normal budgets” and comparative scales. Equating a past sum with 12,000 contemporary marks, he argues, is no more illuminating than equating a Carolingian count with a Prussian administrative official. His criticism remains paired with a warm recommendation of Walther’s study. The review offers a pointed distinction between understanding money within a historical social order and constructing monetary equivalences that obscure the differences one seeks to understand.
Can workers’ material conditions improve under capitalism without making further reform any less necessary? In this 1912 review of Berthold Missiaen’s L’appauvrissement des masses, Hermann von Schullern zu Schrattenhofen approvingly presents just such a position. He highlights Missiaen’s German evidence—wages measured against food prices, widening consumption, savings and insurance—as grounds for rejecting inevitable impoverishment, not for absolving capitalism of its harms. Schullern’s distinctive emphasis falls on the Christian conception of welfare that gives these findings their purpose: wealth should reach broader circles without sacrificing moral and spiritual life. This brief review shows how he joins confidence in measurable economic improvement to an insistence that prosperity alone neither defines human well-being nor completes the task of social reform.
European social insurance law serves as a point of reference for American reform in Emil Lederer’s brief 1912 review of the second edition of Charles Richmond Henderson’s Industrial Insurance in the United States. Rather than offering an extended critique, Lederer identifies what this edition adds to Henderson’s earlier account in Dr. Zacher’s series on workers’ insurance abroad: updated statistics and comparative legislative material intended to suggest directions for American law. His notice offers a compact view of how Henderson’s account connects European provisions with insurance arrangements in large American firms and recent state legislation.
Legislative change had overtaken Ernst Neukamp’s commentary on the German Imperial Trade Code less than two years after its ninth edition. In this brief 1912 notice of the tenth, Emil Lederer identifies the immediate cause: the amendment of 27 December 1911 concerning wage books and related matters. His focus is practical currency rather than interpretive criticism. By noting the inclusion of recent administrative regulations, court decisions and scholarship, he records what had been updated alongside the statute itself—a compact account of why a legal reference work needed such rapid revision.
What makes spirits a suitable object of indirect taxation? In this brief 1912 notice, Hermann von Schullern zu Schrattenhofen identifies that question as the theoretical endpoint of F. G. Tenerelli’s study of Italian and foreign tax legislation. His appraisal highlights not only comparative law but also Tenerelli’s detailed criticism of Italian tax provisions and assessment procedures. Schullern endorses the book’s value for specialists without testing its fiscal argument himself. The notice offers a compact record of what this reviewer found useful: the connection between a tax’s theoretical justification and the practical machinery of its assessment.
A programme for salaried employees is not necessarily a picture of their politics. In this 1912 review of Heinz Potthoff’s handbook, Emil Lederer acknowledges the coherence of Potthoff’s case for a common social policy for all wage and salary earners, while questioning whose convictions it represents. Why did salaried employees organize separately from manual workers, and why did their associations pursue conflicting policies? Lederer gives greater weight to interests in separate employment law and to social distinctions than Potthoff’s account allows. His sharpest objection concerns the unexplained politics of “reactionary” associations. This brief review makes concrete the difference between advocating a movement’s supposed interests and explaining the positions its members actually take.
Who becomes visible when a social survey relies on occupational associations? In this 1912 review of the second part of Hermann Edwin Krueger’s study of private-sector salaried employees, Emil Lederer welcomes evidence drawn from both employers and employees but questions its uneven coverage. Bookselling assistants receive detailed attention because their organizations supplied material, while much larger, less narrowly defined groups remain unrepresented. Lederer singles out findings that unsettle comfortable pictures of salaried employment: limited prospects of independent ownership and severe obstacles to changing jobs after forty. His qualified endorsement offers a concrete lesson in reading social statistics: rich evidence about accessible groups is not necessarily a representative account, and employers’ contributions may be less complete and usable than employees’ own.