AUSPITZ, Rudolf, & Richard Lieben.

£6,250 · Offered by Peter Harrington · No longer available

Untersuchungen über die Theorie des Preises. First and scarce edition in book form of the eminent Viennese economists' important theoretical treatise, "the only Austrian contribution to mathematical economics and one of the outstanding contributions in the last two decades of the 19th century" (The New Palgrave III, p. 176). The first part was published separately in 1887. Auspitz and Lieben, cousins and brothers-in-law, were partners in the family bank, Auspitz, Lieben & Co, and successful businessmen. Auspitz founded and directed a sugar factory and was elected to parliament in 1873 where he fought against cartels; Lieben was the vice-president of the Austrian Credit Institute for Commerce and Trade. Largely unrecognised for its brilliance during their lifetime, this is their most significant work, described by Schumpeter as "one of the outstanding theoretical performances of the age" (p. 849).

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