Monday, October 25, 2010

Philip Wicksteed (1844 - 1927)

On this date in 1844, British economist Philip Wicksteed was born. Wickteed has been referred to as the "British Austrian" for his price theory and his contributions to the theory the tmarket process. In Human Action Mises positively cites Wicksteed on the nature of preference. Israel Kirzner drew on Wicksteed's view of market competition, while Rothbard was influenced by Wicksteed's value theory, price theory, monetary theory.

Those who wish to read about the relationship between Wicksteed and Austrian economics can read Kirzner's brief essay "Philip Wicksteed: The "Austrian" Economist," from the book Great Austrian Economists. Those wanting to read the work of Wicksteed himself should go to The Common Sense of Political Economy, Volumes One and Two. It is his Magnum Opus.

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