Fritz Machlup facts for kids
Quick facts for kids
Fritz Machlup
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| Born | December 15, 1902 Wiener-Neustadt, Austria-Hungary
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| Died | January 30, 1983 (aged 80) Princeton, New Jersey, U.S.
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| Nationality | Austria-Hungary, United States |
| Institution | New York University (1971–83) Princeton University (1960–83) Johns Hopkins University (1947–59) University at Buffalo (1935–47) |
| School or tradition |
Austrian School |
| Alma mater | University of Vienna (Dr. rer. pol 1923) |
| Doctoral advisor |
Ludwig von Mises |
| Influences | Friedrich Hayek, Ludwig von Mises, Friedrich von Wieser |
| Contributions | Information society |
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Fritz Machlup (born December 15, 1902 – died January 30, 1983) was an important economist. He was born in Austria and later became an American citizen. From 1971 to 1974, he was the president of the International Economic Association. Machlup was one of the first people to study how knowledge can be an economic resource. He also helped make the idea of an "information society" well-known.
Early Life and Work
Fritz Machlup was born in Wiener-Neustadt, Austria. His father owned factories that made cardboard. Fritz studied at the University of Vienna and earned his doctorate degree there.
In 1933, he received a special scholarship to study in the United States. By 1935, he became a professor at the University at Buffalo. When the Nazis took over Austria in 1938, Machlup decided to stay in the United States. He became an American citizen in 1940.
Key Ideas and Achievements
Machlup's most famous work is a book called The Production and Distribution of Knowledge in the United States, published in 1962. This book helped to make the idea of an "information society" popular. An information society is one where creating, sharing, and using information is a very important part of the economy and culture.
In 1961, Machlup was chosen to be a member of the American Academy of Arts and Sciences. He also joined the American Philosophical Society in 1963. These are groups that recognize important thinkers and scholars.
He was the president of the International Economic Association from 1971 to 1974. This is a big organization for economists around the world.
Machlup also helped create the Bellagio Group in the early 1960s. This group later led to the Group of Thirty, which is an important group that advises on financial matters.
Before he passed away, Machlup was working on a large series of books about knowledge. He completed three of the ten planned books.
See also
In Spanish: Fritz Machlup para niños
- Exponential decay – of knowledge
