In 1900 the newly appointed Austrian prime minister, Ernest von Koerber,
initiated a novel program of economic development designed to solve the
political and economic problems of the Habsburg Monarchy. Ambitious and
ingenious as the plan was, it proved a failure, and in this book
Alexander Gerschenkron assesses its career and significance for both
Austrian and European history.
The author explains the importance of Koerber's experiment as a way of
increasing Austria's economic strength while drawing the country out of
divisive political struggles. He ascribes its failure primarily to the
obstructionist tactics of Eugen von Boehin-Bawerk, the famous economist,
who headed the Austrian Ministry of Finance. In describing the
experiment's brief but striking success, Professor Gerschenkron
challenges the widespread belief among scholars that disintegrating
nationalist forces were irresistible.
Originally published in 1977.
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