Who was Gottfried Haberler and what was his primary field of expertise?

Gottfried Haberler was an Austrian-American economist, born on July 20, 1900, and who passed away on May 6, 1995. His work primarily focused on international trade and economic theory, particularly concerning business cycles and comparative advantage.

What significant contribution did Gottfried Haberler make to the theory of comparative advantage?

Haberler is recognized for reformulating the concept of comparative advantage, originally proposed by David Ricardo. He adapted this idea into a neoclassical economic framework by shifting the focus from the labor theory of value to the concept of opportunity cost, which represents the value of the next best alternative foregone.

When and where was Gottfried Haberler born?

Gottfried Haberler was born on July 20, 1900, in Purkersdorf, which was then part of Austria-Hungary.

When and where did Gottfried Haberler die?

Gottfried Haberler died on May 6, 1995, at the age of 94 in Washington, D.C., United States.

What was Gottfried Haberler's educational background in Vienna?

Haberler studied political science at the University of Vienna, earning his doctorate in March 1923 with a dissertation titled "Dogmengeschichte der Wechselkurstheorien." He was educated within the framework of the Austrian School of economics and later obtained a doctorate in jurisprudence in November 1925.

What was the subject of Gottfried Haberler's habilitation thesis?

Haberler's habilitation thesis, which is a work required for academic qualification in some European countries, was titled "Der Sinn der Indexzahlen" (The Meaning of Index Numbers). He completed this work and qualified for teaching at the University of Vienna in 1928.

Where did Gottfried Haberler pursue post-doctoral studies?

Following his initial doctoral studies, Haberler expanded his academic experience by studying at the Universities of London and Harvard between 1927 and 1929.

What role did Haberler play at the League of Nations?

From 1934 to 1936, Gottfried Haberler served with the Economic and Financial Organization of the League of Nations, an international body established after World War I to promote cooperation and prevent conflict. This role provided him with significant international experience in economic affairs.

When did Gottfried Haberler move to the United States and where did he take up a position?

In 1936, Haberler relocated to the United States and joined the economics department at Harvard University. While at Harvard, he worked alongside the prominent economist Joseph Schumpeter.

What are considered Gottfried Haberler's two major works?

Gottfried Haberler's two most significant works are "Theory of International Trade," published in 1936, and "Prosperity and Depression: A theoretical analysis of cyclical movements," published in 1937.

What leadership role did Haberler hold within the International Economic Association?

Haberler served as the President of the International Economic Association from 1950 to 1953. This association is a global organization of economists dedicated to advancing economic research and dialogue.

What was Haberler's involvement with the General Agreement on Tariffs and Trade (GATT) in 1957?

In 1957, the GATT commissioned a report on the terms of trade for primary commodities, and Gottfried Haberler was appointed as the chairman of this committee. The terms of trade refer to the ratio between the prices of exports and imports for a country.

What were the key findings of the 1957 GATT report chaired by Haberler?

The report concluded that there was a decline in the terms of trade for primary commodity producers. Specifically, it noted that commodity prices had fallen by approximately 5% since 1955, while the prices of industrial goods had risen by 6% during the same period.

Which economists' earlier work did the 1957 GATT report on terms of trade echo?

The findings of the 1957 GATT report, chaired by Haberler, appeared to align with earlier reports on the same subject by Raúl Prebisch in 1949 and Hans Singer in 1950. These economists were known for their work on development economics and the challenges faced by primary commodity exporters.

What specific economic concept did Haberler dispute in relation to the terms of trade?

While Haberler's 1957 report noted a short-term decline in terms of trade for primary producers, he later denounced a 1964 report by Prebisch and UNCTAD. His particular disagreement was with the assertion of a systematic, long-term (secular) decline in the terms of trade for these producers.

When did Gottfried Haberler leave Harvard University and what was his subsequent affiliation?

Gottfried Haberler departed from Harvard University in 1971. Following his tenure there, he became a resident scholar at the American Enterprise Institute, a conservative think tank based in Washington, D.C.

Besides his work on international trade, what other economic concept is Haberler credited with developing?

Haberler is recognized for his contributions to the theory of opportunity cost. This economic principle posits that the cost of any choice is the value of the next best alternative that must be given up.

Who were the pioneers of the opportunity cost concept that Haberler further developed?

The concept of opportunity cost was initially pioneered by the English economist John Stuart Mill (1806–1873). The Austrian economist Friedrich von Wieser (1851–1926) further developed and elaborated on this concept.

What was the title of Haberler's habilitation work, and what year is listed for its publication?

The title of Haberler's habilitation work is "Der Sinn der Indexzahlen." The provided text lists its publication year as 192, which is likely a typographical error and should be interpreted in the context of his habilitation in 1928.

In which journal did Haberler publish his article "Irving Fisher's 'Theory of Interest'", and in what year?

Haberler's article "Irving Fisher's 'Theory of Interest'" was published in the Quarterly Journal of Economics (QJE) in 1931. This article likely analyzed the influential theories of interest proposed by Irving Fisher.

What was the title of Haberler's 1933 publication?

In 1933, Gottfried Haberler published a work titled "Der Internationale Handel," which translates to "International Trade."

What is the title of Haberler's 1936 book on international trade, and where can a PDF version be accessed?

Haberler's 1936 book on international trade is titled "The Theory of International Trade." A PDF version of this work is available through mises.org, a resource associated with the Ludwig von Mises Institute.

Which journal published Haberler's article "Mr Keynes' Theory of the Multiplier" and in which year?

Haberler's article "Mr Keynes' Theory of the Multiplier" was published in the journal Zeitschrift für Nationalökonomie (ZfN) in 1936. This article likely engaged with John Maynard Keynes's groundbreaking economic theories.

What is the publication year for the third edition of Haberler's "Prosperity and Depression"?

The third edition of Gottfried Haberler's influential work "Prosperity and Depression: A theoretical analysis of cyclical movements" was published in 1946.

What was the title of Haberler's 1949 article published in Kyklos?

In 1949, Haberler published an article in the journal Kyklos titled "The Market for Foreign Exchange and the Stability of the Balance of Payments." This work likely explored the dynamics of currency exchange rates and international payment systems.

Which economics journal featured Haberler's 1950 article "Some Problems in the Pure Theory of International Trade"?

Haberler's article "Some Problems in the Pure Theory of International Trade" was published in The Economic Journal (EJ) in 1950. The Economic Journal is a prominent academic journal in the field of economics.

What was the subject of Haberler's 1952 article published in the Journal of Political Economy (JPE)?

Haberler's 1952 article published in the Journal of Political Economy (JPE) was titled "The Pigou Effect Once More." The Pigou effect is an economic theory related to how changes in the real value of wealth can influence aggregate demand.

What was the title of Haberler's 1964 article published in the American Economic Review (AER)?

In 1964, Gottfried Haberler published an article in the American Economic Review (AER) titled "Integration and Growth of the World Economy in perspective." This article likely discussed the economic implications of global integration and growth trends.

In what year was Haberler's book "Money in the International Economy" published?

Gottfried Haberler's book "Money in the International Economy" was published in 1965. This work likely addressed the role and management of money within the global economic system.

What was the title and publication year of Haberler's work on inflation?

Gottfried Haberler authored "Inflation: Its causes and cures," which was published in 1960. This book likely examined the underlying reasons for inflation and potential policy solutions.

What was the title of Haberler's 1968 contribution to the edited volume "International Trade and Central Planning"?

Haberler's contribution to the 1968 volume "International Trade and Central Planning" was titled "Theoretical Reflections on the Trade of Socialist Countries." This work likely explored economic theories related to trade within centrally planned economies.

In what year was Haberler's book "Incomes Policy and Inflation" published?

Gottfried Haberler's book "Incomes Policy and Inflation" was published in 1971. This publication likely addressed the relationship between wage and price controls and the management of inflation.

What were the publication years for Haberler's books "Economic Growth and Stability" and "Two Essays on the Future of the International Monetary Order"?

Gottfried Haberler's books "Economic Growth and Stability" and "Two Essays on the Future of the International Monetary Order" were both published in 1974.

What was the title of Haberler's 1976 book?

In 1976, Gottfried Haberler published a book titled "The World Economy and the Great Depression." This work likely analyzed the global economic conditions that led to the Great Depression.

What is the title of Haberler's 1985 book that reflects on macroeconomic theory and policy?

Haberler's 1985 book is titled "The Problem of Stagflation: Reflection on the Microfoundation of Macroeconomic Theory and Policy." Stagflation refers to a challenging economic condition characterized by stagnant economic growth, high unemployment, and high inflation.

Who edited the "Essays of Gottfried Haberler" published in 1985?

The "Essays of Gottfried Haberler" published in 1985 were edited by A. Koo.

In what year was "The Liberal Economic Order" published, and who served as its editor?

"The Liberal Economic Order," edited by A. Koo, was published in 1993. This work likely explores principles and theories related to free-market economies.

What was Gottfried Haberler's affiliation with Harvard University?

Gottfried Haberler joined the economics department at Harvard University in 1936 and remained there until 1971. During his time at Harvard, he worked alongside notable economists like Joseph Schumpeter.

What is the significance of the Austrian School in relation to Gottfried Haberler?

Gottfried Haberler received his foundational economic education within the Austrian School of economics at the University of Vienna. The Austrian School is known for its emphasis on methodological individualism, subjective value, and the analysis of market processes.

What role did Gottfried Haberler play in the International Economic Association?

Haberler served as the President of the International Economic Association from 1950 to 1953. This organization is a global forum for economists, and its presidency is a significant leadership position in the field.

What was Haberler's stance on the long-term trend of terms of trade for primary commodity producers?

Haberler disputed the idea that there was a systematic, long-term (secular) decline in the terms of trade for primary commodity producers. This position contrasted with views expressed by economists like Raúl Prebisch and Hans Singer.

What is the "opportunity cost" concept, and how is it related to Haberler?

The opportunity cost concept refers to the value of the next best alternative that is forgone when a choice is made. Haberler is credited with developing this concept within economics, building upon the work of earlier economists like John Stuart Mill and Friedrich von Wieser.

What was the name of the organization where Haberler worked after leaving Harvard in 1971?

After leaving Harvard University in 1971, Gottfried Haberler became a resident scholar at the American Enterprise Institute. This institute is a public policy think tank that focuses on conservative and libertarian ideas.

What was the subject of Haberler's doctoral dissertation at the University of Vienna?

Gottfried Haberler's doctoral dissertation at the University of Vienna, completed in March 1923, was titled "Dogmengeschichte der Wechselkurstheorien," which translates to "History of Doctrines of Exchange Rate Theories." This indicates an early focus on international monetary issues.

Who were Haberler's doctoral advisors at the University of Vienna?

Gottfried Haberler's doctoral advisors at the University of Vienna were Othmar Spann and Ludwig von Mises. Both were influential figures associated with the Austrian School of economics.

Which prominent economist did Gottfried Haberler work with at Harvard University?

Upon joining Harvard University in 1936, Gottfried Haberler worked alongside Joseph Schumpeter, another highly influential economist known for his theories on economic development and innovation.

What is the "Gottfried von Haberler Konferenz" mentioned in the references?

The "Gottfried von Haberler Konferenz" refers to a conference held in his honor, as indicated by a YouTube video reference. This suggests a recognition of his significant contributions to the field of economics.

What does the reference to "de:Adelsaufhebungsgesetz" signify in relation to Haberler?

The reference to "de:Adelsaufhebungsgesetz" (Austrian Law on the Abolition of Nobility) suggests that Gottfried Haberler may have been born into a noble family, as his name is sometimes cited as Gottfried von Haberler. This law, enacted in 1919, abolished hereditary titles of nobility in Austria.

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Biographical Sketch

Early Life and Education

Born in Purkersdorf, Austria-Hungary, on July 20, 1900, Gottfried Haberler's academic journey began at the University of Vienna. He pursued studies in political science, earning his doctorate in March 1923 with a dissertation on exchange rate theories. His foundational education was steeped in the rigorous tradition of the Austrian School of economics. Further academic pursuits led him to post-doctoral studies at the Universities of London and Harvard between 1927 and 1929. He achieved his habilitation in political economy and statistics at the University of Vienna in 1928, solidifying his academic standing.

International Engagements

Prior to his significant tenure in the United States, Haberler served in crucial international roles. From 1925, he worked at the Chamber of Commerce, Trade, and Industry in Vienna, gaining practical insights into economic affairs. He later contributed to the Economic and Financial Organization of the League of Nations in Geneva from 1934 to 1936. This period provided him with a global perspective on economic challenges and policy, which would later inform his influential work on international trade.

Transition to American Academia

In 1936, Haberler made a pivotal move to the United States, accepting a position in the economics department at Harvard University. This marked the beginning of a long and distinguished career in American academia. At Harvard, he worked alongside other intellectual giants, notably Joseph Schumpeter, contributing to a vibrant environment of economic discourse. Later in his career, he transitioned to a role as a resident scholar at the American Enterprise Institute in 1971, continuing his engagement with economic policy and analysis.

Academic Career and Leadership

Scholarly Contributions

Haberler's academic career was defined by his profound contributions to the theory of international trade and business cycles. His seminal works, including Theory of International Trade (1936) and Prosperity and Depression (1937), became cornerstones of economic literature. These texts systematically analyzed complex economic phenomena, establishing his reputation as a leading economist of his time.

International Economic Association

His leadership extended beyond the classroom. Haberler served as the President of the International Economic Association (IEA) from 1950 to 1953. In this capacity, he played a key role in fostering international cooperation and dialogue among economists worldwide, promoting the exchange of ideas and research across borders.

Trade Policy and Analysis

In 1957, the General Agreement on Tariffs and Trade (GATT) commissioned a significant report on the terms of trade for primary commodities, with Haberler appointed as chairman. The report's findings, suggesting a decline in terms of trade for primary producers, sparked considerable debate. Haberler later notably diverged from proponents of a secular decline thesis, demonstrating his independent and critical approach to economic analysis.

Core Economic Theories

Comparative Advantage Reimagined

One of Haberler's most significant theoretical advancements was his reformulation of David Ricardo's theory of comparative advantage. He moved away from the classical labor theory of value, instead grounding the concept in the modern neoclassical framework of opportunity cost. This approach posits that a country should specialize in producing goods and services for which it has the lowest opportunity cost, a foundational principle in understanding global trade patterns and specialization.

The concept of opportunity cost, further developed by figures like Friedrich von Wieser, suggests that the true cost of producing a good is not merely the monetary expense but also the value of the next best alternative that must be forgone. Haberler's application of this principle to international trade provided a more robust and widely applicable explanation for why countries benefit from trade, even if one country is more efficient in producing all goods.

Prosperity and Depression

Haberler's 1937 work, Prosperity and Depression: A Theoretical Analysis of Cyclical Movements, offered a comprehensive theoretical analysis of business cycles. It synthesized various existing theories and presented a coherent framework for understanding the fluctuations between periods of economic expansion and contraction. This work was instrumental in shaping macroeconomic thought during a critical period of economic upheaval.

Haberler's analysis in Prosperity and Depression explored factors such as investment fluctuations, monetary influences, and the role of aggregate demand in driving cyclical movements. He sought to integrate insights from different schools of thought, providing a nuanced perspective on the causes and dynamics of economic booms and busts. His work contributed to the ongoing debate about economic stability and the potential for policy interventions.

Monetary Theory and Policy

Throughout his career, Haberler also engaged with issues of monetary theory and policy. His writings touched upon inflation, exchange rates, and the international monetary system. He advocated for stable economic policies and understood the intricate relationship between monetary conditions and overall economic health, contributing to discussions on maintaining price stability and fostering growth.

Major Scholarly Works

Foundational Texts

Gottfried Haberler authored and co-authored numerous influential books and articles throughout his career. His most recognized contributions include:

Der Sinn der Indexzahlen (The Meaning of Index Numbers), 1927 (Habilitation thesis)
Theory of International Trade, 1936
Prosperity and Depression: A Theoretical Analysis of Cyclical Movements, 1937
Money in the International Economy, 1965
Inflation: Its Causes and Cures, 1960
Incomes Policy and Inflation, 1971
Economic Growth and Stability, 1974
The World Economy and the Great Depression, 1976
The Problem of Stagflation: Reflections on the Microfoundation of Macroeconomic Theory and Policy, 1985
Essays of Gottfried Haberler (edited by A. Koo), 1985
The Liberal Economic Order (edited by A. Koo), 1993

His extensive body of work also includes numerous articles in leading economic journals, contributing significantly to the discourse on trade, cycles, and monetary policy.

Enduring Impact

Shaping Economic Thought

Gottfried Haberler's legacy lies in his rigorous analytical approach and his ability to synthesize complex economic ideas. By reformulating comparative advantage using opportunity cost, he provided a more robust theoretical foundation for international trade theory that remains influential today. His work on business cycles offered critical insights into economic fluctuations, contributing to the development of macroeconomic analysis.

Influence on Policy and Academia

His involvement with institutions like the League of Nations and his chairmanship of the GATT report underscore his commitment to applying economic theory to real-world policy challenges. Haberler's influence extended through his teaching and mentorship, shaping generations of economists. His association with the Austrian School, while distinct from its core figures, highlights his unique position bridging different traditions of economic thought.

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References

de:Adelsaufhebungsgesetz

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Gottfried Haberler

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Biographical Sketch 👤

🎂 Early Life and Education

🌍 International Engagements

🇺🇸 Transition to American Academia

Academic Career and Leadership 👨‍🏫

🎓 Scholarly Contributions

🤝 International Economic Association

📈 Trade Policy and Analysis

Core Economic Theories 💡

⚖️ Comparative Advantage Reimagined

🎢 Prosperity and Depression

💰 Monetary Theory and Policy

Major Scholarly Works 📚

📖 Foundational Texts

Enduring Impact 🌟

🧠 Shaping Economic Thought

🌐 Influence on Policy and Academia

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Dive in with Flashcard Learning!

Biographical Sketch

Early Life and Education

International Engagements

Transition to American Academia

Academic Career and Leadership

Scholarly Contributions

International Economic Association

Trade Policy and Analysis

Core Economic Theories

Comparative Advantage Reimagined

Prosperity and Depression

Monetary Theory and Policy

Major Scholarly Works

Foundational Texts

Enduring Impact

Shaping Economic Thought

Influence on Policy and Academia

Teacher's Corner

True or False?

Test Your Knowledge!

Gamer's Corner

Discover other topics to study!

References

Feedback & Support

Disclaimer

Important Notice