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Pure theory and progressive liberalism: Frank Fetter and the Austrian economists

Published online by Cambridge University Press:  04 October 2018

Matthew McCaffrey
Matthew McCaffrey*
Affiliation:
University of Manchester, Manchester, UK
*
*Corresponding author. Email: matthew.mccaffrey@manchester.ac.uk
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Abstract

Frank A. Fetter is often classified as an American representative of the Austrian school, yet surprisingly, there is practically no published record of his views of the Austrians or theirs of him, and there is no indication that he ever seriously interacted with them after the First World War. However, Fetter enjoyed many personal and professional relationships with the Austrians, and they shared a reciprocal influence on each other's ideas that deeply influenced their respective research programs. This paper draws on unpublished archival records to explore Fetter's unique place in the history of economics, in particular, his positive and negative interactions with the leading individuals and institutions of the Austrian school. Their half-century of influence sheds light on Fetter and his role in American economics, but also brings to light a wide range of information about the lives, works, and personal relations of the Austrians that have not been included in their biographies or institutional histories.

Keywords

Frank A. FetterAustrian economicshistorical and institutional economicsclassical liberalismprogressive liberalism
Type
Research Article
Information
Journal of Institutional Economics , Volume 15 , Issue 3 , June 2019 , pp. 469 - 486
Copyright
Copyright © Millennium Economics Ltd 2018 

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References

Archives

Frank A. Fetter mss, 1875–1988. Lilly Library, Indiana University Bloomington. (FAF)Google Scholar
John Bates Clark papers, 1848–1955. Rare Book & Manuscript Library, Columbia University. (JBC)Google Scholar
Fritz Machlup papers, 1911–1983. Hoover Institution Archives. (FM)Google Scholar
Oskar Morgenstern Papers. Rubenstein Library, Duke University. (OM)Google Scholar
Edwin Seligman papers, 1861–1939. Rare Book & Manuscript Library, Columbia University. (ES)Google Scholar

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