Ludwig M. Lachmann
| Ludwig Lachmann | |
|---|---|
| Born |
1 February 1906 Berlin, German Empire |
| Died | 17 December 1990 (aged 84) Johannesburg, South Africa |
| Nationality | German |
| School or tradition |
Austrian School |
| Influences | Carl Menger |
| Influenced | Bruce Caldwell |
Ludwig Maurits Lachmann (German: [ˈlaχman]; 1906–1990) was a German economist who became a member of and important contributor to the Austrian School of economics.
Lachmann earned his Ph.D. from the University of Berlin, where he was enrolled as a graduate student from 1924 to 1933. He first became interested in Austrian economics while spending the summer of 1926 at the University of Zurich. He graduated in 1930, and spent a few years to teach at the University. When Adolf Hitler rose to power in 1933, Lachmann moved to England. At the London School of Economics he was a student and later colleague of Friedrich Hayek, who held the prestigious Tooke Chair and looked for "allies in his battle against fashionable Keynesian theories". He deepened his interest in the Austrian School, and was one of the few who chose Hayek's side.
In 1948, Lachmann moved to Johannesburg, South Africa, where he accepted a professorship at the University of the Witwatersrand. He remained there until retiring in 1972. His student Peter Lewin described his influence in South Africa as "quiet, limited and subdued", quite in contrast to his New York years. He served as president of the Economic Society of South Africa from 1961 to 1963.
Between 1974 and 1987, Lachmann traveled to New York City each year and collaborated on research with Israel Kirzner who intended to reinvigorate the Austrian school. One result of this collaboration was the 'Austrian Economics Seminar', organized by Lachmann as visiting professor at New York University each winter semester from 1975 to 1987. He was on residence there with his wife for four consecutive months, returning to South Africa in between for 12 consecutive years. A 1974 conference on Austrian Economics at Royalton College, in South Royalton, Vermont featured Lachmann, Kirzner, and Murray Rothbard, who challenged prevailing Keynesianism, attracted 50 participants and led to a 1976 book publication "The Foundations of Modern Austrian Economics".
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