Age, Biography and Wiki

Ludwig Lachmann was born on 1 February, 1906 in Berlin, German Empire, is a German economist (1906–1990). Discover Ludwig Lachmann's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. Learn How rich is he in this year and how he spends money? Also learn how he earned most of networth at the age of 84 years old?

Popular As N/A
Occupation N/A
Age 84 years old
Zodiac Sign Aquarius
Born 1 February 1906
Birthday 1 February
Birthplace Berlin, German Empire
Date of death 17 December, 1990
Died Place Johannesburg, South Africa
Nationality Austria

We recommend you to check the complete list of Famous People born on 1 February. He is a member of famous economist with the age 84 years old group.

Ludwig Lachmann Height, Weight & Measurements

At 84 years old, Ludwig Lachmann height not available right now. We will update Ludwig Lachmann's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible.

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Who Is Ludwig Lachmann's Wife?

His wife is Margot Lachmann

Family
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Wife Margot Lachmann
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Ludwig Lachmann Net Worth

His net worth has been growing significantly in 2023-2024. So, how much is Ludwig Lachmann worth at the age of 84 years old? Ludwig Lachmann’s income source is mostly from being a successful economist. He is from Austria. We have estimated Ludwig Lachmann's net worth, money, salary, income, and assets.

Net Worth in 2024 $1 Million - $5 Million
Salary in 2024 Under Review
Net Worth in 2023 Pending
Salary in 2023 Under Review
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Source of Income economist

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Timeline

1906

Ludwig Maurits Lachmann (1 February 1906 – 17 December 1990) was a German economist, economic theorist and important contributor to the Austrian School of Economics.

Ludwig Lachmann was born in Berlin, Germany on 1 February 1906 into a Jewish middle-class family.

His father was a metal manufacturer, and his mother came from an intellectual background and had a strong influence on young Ludwig.

His mother's brother, a bank official, also had a strong influence upon his nephew's early intellectual development.

Ludwig was an only child, and initially was educated by his mother, but was later enrolled in.

His childhood years are generally described as happy, which would contrast with his later life in Germany, surrounded by constant political and economic instability and crisis.

1924

Lachmann enrolled at the University of Berlin in 1924, studying under, among others, Werner Sombart, who introduced Lachmann to the works of Weber, that had a lifelong influence on Lachmann's work.

1926

He took a semester at the University of Zurich in 1926, and around the same time, he was introduced into the works of Ludwig von Mises and Friedrich Hayek.

1930

He graduated in 1930, and spent a few years to teach at the University.

1933

When Adolf Hitler rose to power in 1933, Lachmann moved to England with his girlfriend Margot.

The couple struggled financially, and Lachmann, unable to find a post in an academic position, enrolled at the London School of Economics.

At the London School of Economics he was a student and later colleague of Friedrich Hayek.

One of Lachmann's fellow students was George Shackle, whose ideas would influence Lachmann's later work.

He deepened his interest in the Austrian School, and was one of the few who chose Hayek's side, though not uncritically, following the so-called 'Keynesian revolution'.

1938

In 1938, Lachmann was awarded the Leon Fellowship from the University of London to study 'secondary depressions'.

In this research project, he traveled to the United States, where he met Alfred Schütz and Frank Knight, and attended the seminars of the latter.

1939

When their financial situation became secure, the couple got married in England, in 1939.

Their marriage was described as, "a successful match," by Ludwig's former colleague, Karl Mittermaier.

Lachmann himself has been described as "a very unusual man" and an "old world European gentleman" and one with a personality that left a lasting impression on those who knew him.

He was described as "unfailingly gracious and considerate".

He was also described as both intentionally and unintentionally humorous.

Lachmann grew to believe that the Austrian School had deviated from Carl Menger's original vision of an entirely subjective economics.

To Lachmann, Austrian Theory was an evolutionary, or "genetic-causal" approach, as opposed to the equilibrium and perfect-knowledge models used in mainstream neoclassical economics.

1940

Following the outbreak of war in Europe, Lachmann, a German national, was interned by British authorities from July to December 1940.

1941

In 1941, following his release, he was appointed as an economic lecturer at the University of London.

1943

In 1943, he was appointed to the Head of the Department of Economics at the University of Hull, a position he held until he departed from England in 1948.

1948

In 1948, Lachmann moved to Johannesburg, South Africa, where he accepted a professorship at the University of the Witwatersrand.

1956

During this time, he published his seminal work, Capital and Its Structure in 1956.

1962

He served as president of the Economic Society of South Africa from 1962 to 1963.

1972

He remained teaching at Witwatersrand until retiring in 1972.

1974

Lachmann, Israel Kirzner, and Murray Rothbard were the three primary catalysts of the Austrian 'revival', beginning in 1974.

He wrote on economic theory, history, and methodology, as well as on the application of Hermeneutics to economic thought, in order to interpret economic phenomena.

In 1974, a conference on Austrian economics was organized in South Royalton, Vermont, in which Lachmann was a key speaker, along with Israel Kirzner and Murray Rothbard.

1975

Lachmann also was engaged in an economic debate with Kirzner regarding notions of equilibrium, and the role of the entrepreneur Lachmann continued this work from 1975 to 1987, when he re-retired to Johannesburg.

1976

This conference led to the publication of the 1976 book, The Foundations of Modern Austrian Economics, to which Lachmann contributed.

Following the conference, Lachmann began annual trips to New York City, where he worked with Kirzner at NYU, advancing research and lecturing to students.

1990

Lachmann passed away on 17 December 1990.

To commemorate Lachmann, his widow established a trust to fund the Ludwig M. Lachmann Research Fellowship at the Department of Philosophy, Logic and Scientific Method of the London School of Economics.

Lachmann met his future wife, Margot Wulff, in the late 20's at an Italian language class.

They ran into each other again in Sankt Moritz, and began a relationship.