Birthplace Vienna, Austro-Hungary.
Posts Held Civil servant, 1872-84; Lect., Univ. Vienna, 1883; Prof., Univ. Prague, 1884, Univ. Vienna, 1903.
Offices and Honours Austrian Minister of Commerce, 1917.
Publications Books: 1. Überden Ursprung und die Hauptgesetze des wirtschaftlichen Werthes (1884); 2. Natural Value (1889, 1956); 3. Social Economics (1914, 1967); 4. Das Gesetz der Macht (1926); 5. Gesammelte Abhandlungen , ed. F. A. von Hayek (1929).
Career Member of the Austrian School of economists, whose early interest in sociology was diverted towards economics by the publication of Menger's Grundsätze . His early work was on the theory of cost; he later wrote on currency, taxation and social and economic policy. In Social Economics he produced the only systematic treatise by any of the older Austrian School. After World War I he returned to sociology, and developed his `law of small numbers' which described the action of élites.
Secondary Literature F. A. von Hayek, `Wieser, Friedrich von', International Encyclopedia of the Social Sciences , D. L. Sills (ed.) (Macmillan and Free Press, 1968), vol. 16; R. B. Ekelund, Jr., `Power and utility: the normative economics of Friedrich von Wieser', Review of Social Economy , 28 (2), Sept. 1970.