Famous Austrian Economists

This ranking is based on an algorithm that combines various factors, including the votes of our users and search trends on the internet.

Vote for Your Favourite Austrian Economists

 1 

Friedrich von Hayek
7
Birthdate: May 8, 1899
Sun Sign: Taurus
Birthplace: Vienna, Austria
Died: March 23, 1992

A winner of the Nobel Memorial Prize in Economic Sciences, Friedrich von Hayek, was an advocate of classical liberalism. The Austrian-British economist, who was also a political philosopher, co-founded the Mont Pelerin Society. He worked at the London School of Economics, the University of Chicago and the University of Freiburg and authored the popular book, The Road to Serfdom.

 2 
Ludwig von Mises
(Economist, Philosopher)

Ludwig von Mises
10
Birthdate: September 29, 1881
Sun Sign: Libra
Birthplace: Lviv, Ukraine
Died: October 10, 1973
A polyglot at age 12, Austrian School economist Ludwig von Mises grew up to acquire a doctorate in law and taught at the universities of New York and Vienna. Known for his works such as The Anti-Capitalistic Mentality, he supported free-market liberalism and opposed socialism. 

 3 
Anita Bose Pfaff
(Economist)

Anita Bose Pfaff
5
Birthdate: November 29, 1942
Sun Sign: Sagittarius
Birthplace: Vienna, Austria
Anita Bose Pfaff is an economist and the only daughter of Indian freedom fighter Netaji Subhas Chandra Bose and his Austrian wife/companion Emilie Schenkl. Anita was just 4 months old when Netaji left them to fight against the British with Japan’s help. Anita was singlehandedly raised by Emilie.
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 4 

Joseph Schumpeter
4
Birthdate: February 8, 1883
Sun Sign: Aquarius
Birthplace: Třešť, Czechia
Died: January 8, 1950
Business students remember Austrian economist and sociologist Joseph Schumpeter for his contribution to the concepts of entrepreneurship, creative destruction, and business cycles. An academic, who had also taught at Harvard, Schumpeter believed capitalism would someday automatically give way to socialism, a thought he expressed in Capitalism, Socialism, and Democracy

 5 
Carl Menger
(Economist, University teacher)

Carl Menger
4
Birthdate: February 23, 1840
Sun Sign: Pisces
Birthplace: Nowy Sącz
Died: February 26, 1921

Carl Menger made significant contributions to the marginal utility theory and the subjective theory of value. Born to a lawyer father, he too studied law and also worked as a journalist for a while. He later taught at the University of Vienna and also established the Austrian School of economics.

 6 

Eugen von Böhm-Bawerk
1
Birthdate: February 12, 1851
Sun Sign: Aquarius
Birthplace: Austrian Empire
Died: August 27, 1914

A major advocate of the Austrian school of economics, Eugen von Böhm-Bawerk made major reforms as part of the Austrian ministry of finance, such as imposition of the gold standard. He was also one of the first to oppose Karl Marx’s theory of exploitation of workers.

 7 
Otto Neurath
(Economist, Philosopher, Sociologist, Graphic designer, Statistical graphics)

Otto Neurath
2
Birthdate: December 10, 1882
Sun Sign: Sagittarius
Birthplace: Vienna
Died: December 22, 1945

Otto Neurath was an Austrian-born philosopher of science, political economist, and sociologist. He is known for inventing the ISOTYPE method of pictorial statistics. A native of Vienna, he was one of the leading figures of the Vienna Circle. As an economist, he advocated for ideas like "in-kind" economic accounting in place of monetary accounting. 

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 8 

Friedrich von Wieser
1
Birthdate: July 10, 1851
Sun Sign: Cancer
Birthplace: Vienna, Austria
Died: July 22, 1926

One of the principal members of the Austrian school of economics, Friedrich von Wieser is known for coining the term marginal utility and developing number of theories including the alternative cost theory, proclaiming that cost of a commodity depends mainly on its subjective, or psychological, value. Among his many publications more significant are Natural Value and Foundations of Social Economy.

 9 
Rudolf Hilferding
(Economist, Politician, Writer)

Rudolf Hilferding
2
Birthdate: August 10, 1877
Sun Sign: Leo
Birthplace: Vienna
Died: February 11, 1941

Austrian-born Marxist politician, socialist-theorist, and economist Rudolf Hilferding was the main theoretician for the German social democratic political party called Social Democratic Party of Germany (SPD) during the Weimar Republic. A prominent representative of the Viennese development of Marxism, Hilferding assumed office as Minister of Finance in two SPD led governments and is noted for his work Das Finanzkapital.

 10 
Othmar Spann
(Economist, Philosopher, University teacher, Sociologist)

Othmar Spann
1
Birthdate: October 1, 1878
Sun Sign: Libra
Birthplace: Vienna
Died: July 8, 1950

Austrian philosopher and sociologist Othmar Spann initially taught in Brünn and then fought during World War I. He later taught at the University of Vienna for almost 2 decades. His ideas were radically anti-liberal. A Nazi Party member, he believed in the superiority of a corporate state.

 11 
Leopold Kohr
(Economist)

Leopold Kohr
1
Birthdate: October 5, 1909
Sun Sign: Libra
Birthplace: Oberndorf bei Salzburg, Austria
Died: February 26, 1994

 12 

Gottfried Haberler
1
Birthdate: July 20, 1900
Sun Sign: Cancer
Birthplace: Purkersdorf, Austria
Died: May 6, 1995

Gottfried von Haberler was an Austrian-American economist, writer and educator, famous for his works on international trade. Beginning his career as professor of economics and statistics at the University of Vienna, he later taught at Harvard University before joining American Enterprise Institute. Author of several celebrated works; he is most famous for his 1937 book, The Theory of International Trade.

 13 
Pietro Verri
(Economist)

Pietro Verri
1
Birthdate: December 12, 1728
Sun Sign: Sagittarius
Birthplace: Milan, Italy
Died: June 28, 1797

Author of numerous literary, historical, and economic works, Pietro Verri was a leader of Milanese academy and moving force behind Società dei Pugni. Also a distinguished public administrator and political economist employed with the Milanese government, he has been credited with abolition of tax farming. Some of his important works are Riflessioni sulle leggi vincolanti and Meditazioni sull’ economia politica.

 14 
Ernst Fehr
(Economist, University teacher)

Ernst Fehr
0
Birthdate: June 21, 1956
Sun Sign: Gemini
Birthplace: Hard, Austria

 15 
Carl Grünberg
(Philosopher)

Carl Grünberg
1
Birthdate: February 10, 1861
Sun Sign: Aquarius
Birthplace: Focșani, Romania
Died: February 2, 1940

Carl Grünberg was a German Marxist philosopher of law and history. He studied law in Strasbourg and practiced as an advocate. He then proceeded to study political economy in Vienna and eventually became an academic reader. He was one of the founders of Austromarxism. He became the director of the Institute for Social Research in 1924. 

 16 

Stefan Thomas Possony
0
Birthdate: March 15, 1913
Sun Sign: Pisces
Birthplace: Vienna, Austria
Died: April 26, 1995

Stefan Thomas Possony was an Austrian-born US economist and military strategist. He is known for conceiving the US Strategic Defense Initiative. He was a senior fellow and director of International Studies at the Hoover Institution. He was also a co-founder of the International Strategic Studies Association. He was married to a woman named Regina Golbinder.