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Topic: Fritz Machlup


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In the News (Sun 18 Aug 19)

  
  Biographical Profile: Fritz Machlup
Machlup is one of the fathers of thinking about what has come to be labelled the information society and the information economy.
Fritz Machlup was born in Wiener Neustadt (Austria) on 15 December 1902, the son of a minor industrialist.
Machlup was a consultant to the US Treasury from 1965 to 1977, having formed the Bellagio Group of academics to study international monetary problems in 1963.
www.caslon.com.au /biographies/machlup.htm   (972 words)

  
 Biography of Fritz Machlup   (Site not responding. Last check: 2007-09-11)
Fritz Machlup (Dec. 15, 1902-Jan. 30, 1983), economist, was born in Wiener Neustadt, Austria, the son of Berthold Machlup owner of a cardboard-manufacturing business.
Machlup also served as the treasurer and later secretary of the Austrian Economic Society and participated in the famous seminar of von Mises and the interdisciplinary seminar, the Geistkreis.
Fritz Machlup was very influencial on the development of economics by making contributions in nearly every field and by making crucial clarifications in methodology, theory, and policy.
www.mises.org /content/aboutmachlup.asp   (1163 words)

  
 Fritz Machlup, Biography: The Concise Encyclopedia of Economics: Library of Economics and Liberty
Machlup agreed but argued that the purpose of assuming profit maximization is not to predict everything a firm does, but instead to predict how it will react to changes in demand or in costs.
Machlup studied economics at the University of Vienna in the twenties under Ludwig von Mises and Friedrich Hayek.
Machlup taught at the University of Buffalo from 1935 to 1947, moved to Johns Hopkins in 1947, and moved to Princeton in 1960.
www.econlib.org /library/enc/bios/Machlup.html   (450 words)

  
 Fritz Machlup Summary
Fritz Machlup was born in Vienna, Austria, and began his career there as an entrepreneur and businessman.
In addition, Machlup was a Visiting Professor at Osaka University in Japan (1970), at the University of Melbourne (1970) and at the University of Vienna (1972-1973).
Fritz Machlup (December 15, 1902-January 30, 1983) was an Austrian-American economist.
www.bookrags.com /Fritz_Machlup   (1006 words)

  
 FRITZ MACHLUP AND THE CONSUMPTION OF CAPITAL
Fritz Machlup (1902-1983) was born at Wiener Neustadt, Austria, where his father owned a manufacturing business.
Machlup became a partner in an Austrian manufacturer in 1922 and helped to form a Hungarian concern in 1923.
Machlup spoke directly to today’s Anglo-Saxons when he observed that the “[importation] of capital does not increase the productive capacity of the country but only compensates for the internal capital consumption.
www.quebecoislibre.org /04/040615-12.htm   (2251 words)

  
 PAW Web Exclusives: Under the Ivy
“Are We Overselling College?” by Fritz Machlup, then Princeton’s Walker Professor of Economics and International Finance, emeritus, set forth the incendiary argument that “ ‘higher education’ ought to be reserved for the genuinely intellectual elite,” as the story’s subhead put it.
Machlup was aware of the figurative bomb he was detonating.
While Machlup believed this initial argument would raise hackles, it is his later conclusions – his interpretation of the results of universities’ lowering academic standards to meet public demand – that are probably more controversial.
www.princeton.edu /~paw/columns/under_the_ivy/uti110304.html   (620 words)

  
 HES: DISC -- Machlup Survey on Capital   (Site not responding. Last check: 2007-09-11)
Machlup mentions a series of letters on capital theory and the problem of the period of production between himself and Marschak, Mises, Hayek, and Haberler.
This turns out to be a survey questionaire sent out by Machlup on the problem, with letters of response from all of the aforementioned, and a summary final report to all correspondents by Machlup.
All of this original correspondence is found in German in the Fritz Machlup collection at the Hoover Institution.
eh.net /pipermail/hes/1996-December/000772.html   (212 words)

  
 What is Truth in Capital Theory? -- Theme 3: Capital, Time and the Interest Rate
For Machlup (1935a), the facts of economic experience in the depression belied the notion of a symmetrical relationship among the factors of production (unlike labour and land, capital could be consumed) and thereby spoke of the continuing relevance of the notion of a period of production.
Knight replied to Machlup's response with a repetition of the questions, accompanied by a brief commentary re-iterating the need to appreciate the way the basic fact of the symmetrical relationship among the three factors of production which modern economic theory captured.
Machlup's rejoinder expressed his exasperation with Knight's questions and unwillingness (from Machlup's perspective) of putting forward his own theory of economic change for criticism: "These few remarks may illustrate how difficult discussion becomes if phenomena are considered nonexistent just because they do not fit into the conceptual scheme preferred by one party" (Machlup 1935b).
www.msu.edu /~emmettr/capital/Theme3.html   (3333 words)

  
 The New York Review of Books: The Deluge
Machlup's over-all figures are perhaps of even wider interest than his careful calculations for special segments of the knowledge industry.
Here Machlup departs from his general cool appraisal of the facts at hand and engages in a very sharp polemical attack on the educational "industry" he surveys.
If the "Machlup Plan" were adopted it would result in a further decrease of general standards of excellence and in a widening of the gulf between an educated upper stratum and a "trained" but uneducated working class of menials.
www.nybooks.com /articles/13753   (1211 words)

  
 Dr. Huenneke's Almanac
Machlup writes that it would not be economic production to transmit information about a baseball game if the people who reported on the game had nothing else to do (even if it was fun to make the report).
Machlup was an economist who was very careful about the words he chose to describe economic concepts or life.
The summary of Machlup's four cardinal principles of the Austrian school of economics are drawn from An Outline of the History of Economic Thought by Ernesto Screpanti and Stefano Zamagni, Clarendon Press, Oxford, England, 1995, Page 198.
warp6.cs.misu.nodak.edu /econ/almanac/al050603.html   (931 words)

  
 OVERCONSUMPTION AND FORCED SAVING
Sometime between Hayek's survey of the term's use and Machlup's probing of economic semantics, the economics profession learned the importance of maintaining the distinction between "saving" and "investment." The words stand for two different activities such that saving and investment, in conditions of disequilibrium, can be of different magnitudes.
For the references to both Strigl and Machlup, I am indebted to Richard Ebeling, who presented a paper titled "Fritz Machlup and His Early Writings: A Summary and Appreciation" at the Southern Economic Association meetings in New Orleans in November 2002.
Ebeling demonstrates on the basis of a 1933 hand-written Machlup lecture on file at the Hoover Institution that Machlup was fully aware of the differences between Hayek and Strigl on the issue of overconsumption.
www.auburn.edu /~garriro/strigl.htm   (9343 words)

  
 Research Methods and Communication in the Social Sciences. | Government from AllBusiness.com   (Site not responding. Last check: 2007-09-11)
His lifelong interest in the philosophy of science and methodology of economics was part and parcel of this burning passion to teach the uninitiated.
Machlup's penchant for classifying, clarifying, and explaining frequent misunderstandings is particularly evident in his formal attempts to define methodology and to contrast it with methods.
Methodology, on the other hand, is defined as a set or system of methods, principles, and rules for regulating a given discipline, or the study of the principles underlying the organization of the various sciences and the conduct of scientific inquiry.
www.allbusiness.com /government/509248-1.html   (800 words)

  
 Leithner&Company Pty Ltd–The Leithner Letter
Fritz Machlup (1902-1983) was well-placed to answer questions such as these.
In that article, which acknowledged that von Mises was the first to identify the phenomenon, Machlup examined factors that might induce entrepreneurs to consume the funds that would normally be allocated to the replacement or expansion of inventory, plant and equipment.
Sadly, since Machlup delivered his address the causes of the consumption of capital have not been contained–indeed, albeit at different rates in different places, several have been liberated from their nineteenth century constitutional moorings.
www.leithner.com.au /newsletter/issue54.htm   (6841 words)

  
 B_O_PMNT   (Site not responding. Last check: 2007-09-11)
Fritz Maclup of Princeton University distinguished between three distinct concepts of the balance of payments.
The concept has been criticized by Fritz Machlup because at one place it is taken to refer to the market balance whereas at another it signifies program balance, thus confusing the two.
Machlup’s exclusion of the trade controls from his definition of the market balance seems to be due to his desire to measure something more than the actual gap between effective demand market supply that has to be filled by the Official Compensatory Financing.
members.aol.com /jimkhwaja/economic/trade/b_o_pmnt.htm   (3653 words)

  
 Machlup, F.: The Production and Distribution of Knowledge in the United States.
Machlup, F.: The Production and Distribution of Knowledge in the United States.
Machlup's cool appraisal of the data showed that the knowledge industry accounted for nearly 29 percent of the U.S. gross national product, and that 43 percent of the civilian labor force consisted of knowledge transmitters or full-time knowledge receivers.
Indeed, the proportion of the labor force involved in the knowledge economy increased from 11 to 32 percent between 1900 and 1959--a monumental shift.
press.princeton.edu /titles/1510.html   (232 words)

  
 [Sigkm-l] Fritz Machlup's Knowledge Economics Books to be Reprinted
GKEC Press Reprints Fritz Machlup's Works Delivery is scheduled for February 1st, 2003.
In partnership with Princeton University Press, GKEC Press is reprinting = the seminal works of Fritz Machlup starting with "Knowledge Production and Distribution in the United States" 1962.
Machlup coined terms such as = "knowledge-production worker", "knowledge economy", "knowledge industry", "knowledge = half-life", "information economics", "knowledge economics", as well as many others.
www.asis.org /pipermail/sigkm-l/2003-January/000035.html   (422 words)

  
 Fritz Machlup, the ``Knowledge Industry,'' and Alvin Toffler   (Site not responding. Last check: 2007-09-11)
Fritz Machlup, the ``Knowledge Industry,'' and Alvin Toffler
Among those who made the extravagant predictions was Alvin Toffler (or, as it now appears, Alvin and Heidi Toffler).
(1980), Toffler has been citing Machlup's 1962 book to argue that nothing less than the very economic foundations of civilization are shifting, an event matched in importance only by the invention of agriculture and industry (the first and second waves, respectively).
bactra.org /notebooks/machlup.html   (504 words)

  
 Moss, The Economics of Ludwig von Mises: Toward a Critical Reappraisal ToC: The Online Library of Liberty
A collection of papers from a Symposium on the economics of Mises held at the 44th meeting of the Southern Economics Association in Atlanta, Georgia on 15 November, 1974.
There are articles by Laurence Moss, Fritz Machlup, Israel Kirzner, Murray Rothbard, William Baumgarth, and Karen Vaughn.
Fritz Machlup, Opening Remarks: Mises, Keynes, and the Question of Influence 9
oll.libertyfund.org /Home3/Book.php?recordID=0719   (416 words)

  
    (Site not responding. Last check: 2007-09-11)
Machlup divided information use into instrumental, intellectual, and pastime knowledge categories.
Stanford University, Hoover Institute Archives; search under: Machlup, Fritz, 1902-.
Correspondence, writings, reports, memoranda, notes, questionnaires, data, financial records, grant proposals, instructional materials, and printed matter, relating to economic theory, to information systems, and to the creation and transmission of knowledge; In English and German.
www.personal.kent.edu /~tfroehli/sighfis/machlup.htm   (239 words)

  
 Economic Principals
Still on the program this year were two under-recognized giants in their fields who, as young men at the meetings in 1965, had espoused the centrality of the growth of knowledge, Ned Phelps and Richard Nelson, both of Columbia University.
It was splendid to see their views -- and those of Machlup and Boulding, too -- confirmed by subsequent events.
Web page (but not see the interesting photographs) if, in the left rail, you locate "Institutional Investor Magazine International," click on it and register for a one-day pass.
www.economicprincipals.com /issues/06.01.15.html   (1829 words)

  
 HES: DISC -- Machlup Survey on Capital
was a lead found in Fritz Machlup's 1935 essay on Knight and capital
Machlup mentions a series of letters on capital theory and the
out by Machlup on the problem, with letters of response from all of the
eh.net /lists/archives/hes/dec-1996/0045.php   (129 words)

  
 The 7-Year Goal is Baloney   (Site not responding. Last check: 2007-09-11)
Even much looking backward, our statistics aren't much good: Every year we revise historical figures on matters like gross domestic product, trade balance, employment levels and cost of living.
Princeton economist Fritz Machlup studied the seven years of fluctuations in official estimates of the U.S. balance of trade for 1951, which ranged from a positive $5 billion to a negative $800 million.
Machlup said the changes in "supposedly empirical data" grew out of "complaints by disappointed businessmen, apologies and alibis by frustrated governments [and] primitive interpretations by newsmen and journalists on the basis of uninstructed theorizing by the man-in-the-street."
www.brookings.edu /pagedefs/1f93f2e4f711ff3a562fcc8a0a141465.xml   (736 words)

  
 Fritz Machlup   (Site not responding. Last check: 2007-09-11)
Machlup was particularly noted for theses on the expansion of international liquidity.
He did, however, write on American economics as well.
His publications include The Stock Market, Credit and Capital Formation (1940), The Political Economy of Monopoly (1952), The Production and Distribution of Knowledge in the United States (1962), Essays on Economic Semantics (1963), and International Payments, Debts and Gold (1964).
www.jbuff.com /fmac.htm   (61 words)

  
 The Friedrich Hayek Quote Page
Information in the minds of millions of people is not available to any central body or any group of decision-makers who have to determine prices, employment, production, and investment but do not have the signals provided by a competitive market mechanism.
Most plans for economic reform in the socialist countries seem to be coming closer to the realization that increasing decentralization of decision-making is needed to solve the problems of rational economic planning." (Fritz Machlup, "Hayek's Contribution to Economics", Swedish Journal of Economics, Vol.
"One of the most original and most important ideas advanced by Hayek is the role of the 'division of knowledge' in economic society." (F. Machlup, 1976, p.
www.hayekcenter.org /friedrichhayek/hayekquote.htm   (8652 words)

  
 Footnotes
Thus, paradoxically, monopoly may evoke competition: The threat from patent monopolies in the hands of such "outsiders" may create a sort of competition-a David versus Goliath competition-which reduces the inertia of some huge industrial aggregations that might otherwise be sluggish.
Print 1958) (written by the economist Fritz Machlup).
And it is after all the "difficulty" of inventing which determines the relative scarcity of invention and, consequently, provides the rationale for the policy of creating an extra stimulus for inventive effort.
www.law.berkeley.edu /journals/btlj/articles/vol7/Merges/html/note.html   (12997 words)

  
 GOETZ A. BRIEFS PAPERS, PART II: FOLDER LISTING
Includes 1 TLS from Fritz Baade, 1 ALS from Conte Della Rocca de Candal, 2 TLSs from Dr. K.
Scheidl, 1 TLS from Helmut Schoek, 1 copy TLS from Konrad Adenauer, 1 TLS from Curt L. Schmitt, and 1 TLS from Dr. Th.
DESCRIPTION: 5 TMss not by Goetz A. Briefs, including TMss by Fritz Machlup and Ulf H. Goebel, and 1 TMs about Anna Weltmann (Mrs.
www.library.georgetown.edu /dept/speccoll/fl/f138}1.htm   (1348 words)

  
 Computers and Social Change Chapter 1
In order to do this, we will have to begin with some basic concepts of information, society, and technology.
In a book comparing many scientific disciplines' approaches to the study of information, Fritz Machlup observed:
It means different things to those who expound its characteristics, properties, elements, techniques, functions, dimensions, and connections.
www.ccs.neu.edu /home/perrolle/book/chapter1.html   (10878 words)

  
 Research Resources for Scholars
-- Hayek's collected papers and correspondence, along with those of the Mont Pelerin Society, Karl Popper, Fritz Machlup, and others.
Contact Carol Leadenham, Assistant Archivist for Reference, at e-mail:
Machlup -- Register of the Fritz Machlup Papers
www.hayekcenter.org /friedrichhayek/research.htm   (692 words)

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