Pombavik (Eugen von B? Hm-Bawerk (1851February 200412-1965438+August 27, 2004) is an Austrian economist and has made important contributions to the Austrian school of economics. Pombavik was born in February of 185 1, Moravia (now known as Brno). He is the youngest son in the family. His father was a famous civil servant, and he was made a nobleman because of his achievements in quelling the riots in Galicia in 1848. 1856 died when he was the deputy governor of Moravia and the chief executive of the Austrian imperial government in Moravia.
Pombavik went to Vienna University to study law, where he read the book Principles of Economics written by carl menger. Although Meng Le didn't teach him personally, he soon became a loyal supporter of Meng Le's theory. Joseph schumpete described Pombavik as "so keen on Meng Le's theory that there is no need to study other theorists." During his stay at Vienna University, he met another Austrian economist, Friedrich von Vizer, who later became the brother-in-law and son-in-law of Austrian pioneer Meng Le.
1875, after obtaining a doctorate in law, Pombavik received government funding to study abroad. Just like his classmate and future brother-in-law Friedrich von Wieser, he was going to teach economics in an Austrian university. He worked with Karl Knies in Heidelberg for one year, and then spent one semester in Leipzig University (where Roscher taught) and one semester in Jena University (where hildebrand taught). Then he worked in the Monetary Authority and the Ministry of Finance for another three years, obtained the professorship qualification at 1880, and was hired as a professor of economics at Innsbruck University until 1889. After finishing his studies, Pombavik entered the financial department of the Austrian government, that is, he held a teaching position at 1880, during which he published his own great works. From the academic point of view, Pombavik's years in Innsbruck were the most fruitful period in his life: 188 1 year, he published a book on commodity theory based on the papers that were qualified as professors; 1884, the first volume of his Das Kapital was published. 1886 published a monograph on value theory in the most influential German economics magazine. 1889, the second volume of capital and interest was published. These works made Pombavik one of the main members of a group of economists united around carl menger, who later became known as the Austrian School. From 65438 to 0889, Pombavik gave up his position as a professor at the University of Vienna and took the post of Austrian Ministry of Finance, because this gave him the opportunity to accept the task of formulating the Austrian income tax reform plan, and during this period, he drafted the reform plan of the direct tax system. At that time, Austria's tax system imposed heavy taxes on economic production, especially in wartime, which caused great obstacles to Austria's economic investment activities. Pombavik's proposal was to establish a modern income tax system, which was quickly adopted and achieved great success in the next few years. Pombavik became Austrian Finance Minister on 1895. He served as finance minister intermittently for several times, the longest being the third time-from 1900 to 1904. During his tenure as finance minister, he strictly maintained a stable gold standard and a balanced budget. 1902, he cancelled the government subsidy to the sugar industry-although the sugar industry has been an Austrian economic feature for two centuries. He finally resigned on 1904, because Austria's increasing military expenditure made it impossible for him to balance the budget. Alexander Gerschenkron, an economic historian, once criticized Pombavik's policy of "not spending a penny" and criticized that the slow economic development of Austria at that time was caused by Pombavik's unwillingness to invest a lot of money in public construction projects. However, joseph schumpete praised Pombavik's contribution to Austrian financial stability during his tenure. He did well in this task, so his position rose rapidly. 189 1 got the position of lifelong secretary, 1892 served as the deputy director of a Committee to evaluate the proposal to restore the gold standard. 1893, after he was appointed as the minister of finance of the caretaker government, people thought that his position was too high to hold his original position, so he was appointed as a member of parliament a few months later and was appointed as the chairman of one of the three deliberative bodies of the Supreme Administrative Litigation Court. 1896 was re-appointed as the caretaker government finance minister, but 1897 returned to the Supreme Administrative Litigation Court. 1900 was appointed finance minister of civilian government. He disagreed with the government's plan to increase military spending on a large scale, believing that this move would inevitably threaten financial stability. 1904 resigned and the civilian government collapsed. Then, there were other positions, including the position of the governor of the central bank, which was the biggest fat job of the government at that time, but he refused and replaced it with the distinguished professor seat of the Vienna University. Pombavik, together with Friedrich von Wieser (who succeeded Meng Le as a professor in 1902) and Eugen von Filpo, taught economic theory and held seminars. This seminar attracted many talented students, such as joseph schumpete, rudolf hilferding, otto bauer, ludwig von mises, Emile Laidler and Richard von Strigell. However, Pombavik did not return to a quiet life as a scholar. 1902 was elected academician of Austrian Academy of Sciences, 19 1 year was elected vice president,191year was elected president. 1895 as a parliamentary adviser, 1899 as a member of the Austrian house of lords. In addition, he also accepts various other government appointments from time to time. He fell ill on his way to Switzerland as an official representative of Austria to attend the Carnegie Foundation meeting. He tried to recover in Ratenburg-Kramsach, Tyrol, but died there in 19 14.
Pombavik's portrait appeared on the hundred-dollar shilling bill from 1984 to 2002 until it was replaced by the euro.
Although Pombavik is a liberal, he is not a contemporary radical liberal, although the reputation of the Austrian school of economics often links the two. He is worried that unfettered free competition will lead to "anarchic production and consumption". He wrote a lot of works criticizing Karl Marx's economics in 1960s and 1960s, but several outstanding Marxists also participated in the university seminars sponsored by Pombavik from 1905 to 1906.