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1、REVIEWESSAYTHEEVOLUTIONOFAUSTRIANECONOMICS:FROMMENGERTOLACHMANN.BYSANDYEGLORIA-PALERMO.LONDONANDNEWYORK:ROUTLEDGE.1999.PETERLEWINlthoughthisisashortbook,183pagesinclusiveofindexandbibli-Aography,itcoversalotofground.Drawingonherdoctoraldisserta-tion,SandyeGl
2、oria-Palermohasundertakenahistory-of-thoughtsur-veyoftheAustriantraditionfromMengertoLachmann.Intheprocess,sheconsiderstheworksofBöhm-Bawerk,Wieser,Mises,Hayek,Rothbard,Kirzner,andLachmann—atallorder,tosaytheleast.Inordertoaccomplishthistaskshehaschosentonar
3、rowherfocustoonecentraltheme.“[I]nsteadofconcentratingonresearchingtheoriginalityoftheAustriantraditioninitswidestsense,weshalllimitourselvestoemphasizingtheMengerianessence”(p.3).Indeed,thewholebookisanexerciseindetermininghowthesetheo-ristsmentionedaboveme
4、asureupwhenjudgedintermsofthestandardssetbyMengerandhowtheyarelikelytocontributetothedevelopmentofaviableandvaluableAustrianresearchprogramgoingforward.Gloria-Palermo’sinterpretation,bothofMengerandofhisdisciples,islikelytobecontrover-sialamongAustrianschola
5、rs.IshallindicatesomeinstanceswhereIbelieveherconclusionsaremisleadingandunwarranted.AndIshallindicatewhereothersmightfindherassertionsproblematic.Thisshouldnot,however,betakentodetractfrommyadmirationoftheimpressivescholarshipthatthisworkcontains.Thebookcon
6、tainsfourpartscomprisedofelevenchaptersandaconclu-sion.Partone(chaps.1and2)laysoutMenger’sseminalcontribution.Parttwo(chaps.3,4,and5)indicateshowMenger’searliestwell-knowndisciplesdepartedfromhisvisionandhow,becauseofthewaytheliteratureevolved,Menger’sorigin
7、alitywaslost.Partthree(chaps.6through10)chroniclesthecontributionsoflatergenerationAustrians—Mises,Hayek,Rothbard,Kirzner,andLachmann.EachisjudgedintermsofhisproximitytoMenger’soriginalPETERLEWINisseniorlecturerineconomics,finance,andmanagementattheUniversit
8、yofTexas,Dallas.THEQUARTERLYJOURNALOFAUSTRIANECONOMICSVOL.4,NO.4(WINTER2001):71–827172THEQUARTERLYJOURNALOFAUSTRIANECONOMICSVOL.4,NO.4(WINTER2001)subjectivistvisionandmethod.ItiswiththeworkofLud
