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• Acknowledgements
• Part One: Introduction
• Walter E. Grinder, In Pursuit of the Subjective Paradigm: Walter E. Grinder
• Austrian Economics In the Present Crisis of Economic Thought
• Part Two: Setting the Stage
• The Significance of the Austrian School of Economics In the History of Ideas
• The Role of Expectations In Economics As a Social Science
• Professor Shackle On the Economic Significance of Time
• The Science of Human Action
• Model Constructions and the Market Economy
• Part Three: the Market Process
• Some Notes On Economic Thought, 1933–1953
• Methodological Individualism and the Market Economy
• Economics As a Social Science1
• Ludwing Von Mises and the Market Process
• Part Four: Problems In Macroeconomic and Capital Theory
• Complementarity and Substitution In the Theory of Capital
• Mrs. Robinson On the Accumulation of Capital
• Sir John Hicks On Capital and Growth: (review Article)
• Sir John Hicks As a Neo-austrian: (review Article)
• A Reconsideration of the Austrian Theory of Industrial Fluctuations
• Part Five: On Economic Policy
• Causes and Consequences of the Inflation of Our Time
• The Market Economy and the Distribution of Wealth
• Cultivated Growth and the Market Economy
• Appendix: Economic Writings of Ludwig M. Lachmann

Acknowledgements

It has been a privilege and an honor to help assemble and bring to publication this collection of Professor Ludwig M. Lachmann's essays. Professor Lachmann is a delightful person to work with. He is a scholar whose wisdom matches his years, but whose energy and sense of intellectual excitement is that of a far younger man. He is a veritable fountain of knowledge, a never-ending stream of economic insight, which is always offered in his unique and curiously wonderful style. The Lachmann style combines a magisterial gusto with an omnipresent and delightfully amused twinkle in his eye.

There is no end of those to whom I should like to offer my thanks. First, there is the memory of Ludwig von Mises, an intellectual giant from whom we all have learned so much.

Second, there are the Institute for Humane Studies and, more important, the memory of its founder and guiding spirit, F. A. “Baldy” Harper. Without the support of the Institute none of this would have been possible. Thanks here must also go to all of those now associated with the Institute, especially to Charles G. Koch, George H. Pearson, and Kenneth S. Templeton.

Next I must thank my other Austrian mentors: Israel M. Kirzner, Murray N. Rothbard, and Hans F. Sennholz. Professors Kirzner and Rothbard especially lent their support and encouragement throughout the project. A very special thanks must go to Professor F. A. Hayek, whose works have influenced both Professor Lachmann and myself.

Thanks, too, are in order for Robert F. Ambacher, who helped to translate into English the two originally German articles included in this collection, and for Walter Block, who helped during the early stages of preparation of this volume.

A special thanks goes to the hard-working general editor of this series of Austrian works, Laurence S. Moss. Last, but certainly not least, I would like to thank my patient wife, Mary Jane Grinder, for her help in typing the manuscript.

I wish to thank the following publications and publishers for reprint permission: Zeitschrift für Nationalökonomie, Economica, Metroeconomica, Ordo, South African Journal of Economics, Routledge and Kegan Paul, Augustus M. Kelley, Institute for Humane Studies, and D. Van Nostrand.

Walter E. Grinder

• New York City