Friedrich von Wieser (10 July 1851-22 July 1926) was an early economist of the Austrian School of economics and Commerce Minister of Austria-Hungary from 30 August 1917 to 11 November 1918.
Biography[]
Friedrich von Wieser was born in Vienna, Austria on 10 July 1851, and he had a lifelong passion for political economics. He was first trained in sociology and law, and he took his degree in 1872. That same year, he read Carl Menger's works, and he decided to take up a career in economics. In 1903, he succeeded Menger in Vienna, and he stressed the importance of the entrepreneur to economic change, rejected classical liberalism in favor of a system of order, and believed in the paramount importance of accurate calculation to economic efficiency. He served as Commerce Minister of Austria-Hungary from 1917 to 1918, and he died in Vienna in 1926.