“ An Austrian economist, born at Neu-Sandez, in Galicia. He studied law and political science in Vienna and Prague, and in 1873 became professor of political economy at the University of Vienna. Since 1900 he has been a member of the Austrian House of Peers. He was the leader of a reaction against the historical method in economics, and is one of the most prominent leaders of the so-called Austrian school of political economy. ”