Money and Markets: Essays in Honor of Leland B. Yeager

124 Jürgen G. Backhaus4 Page 41. In German: “Somit verbleibt einer ökonomischen Theorie, die sich in derTradition Euckens neu formulieren will, die betrübliche, aber notwendige Einsicht, wiesie bereits von Joseph Schumpeter formuliert wurde: ‘Statt scharfe Konturen fürDisziplinen und Richtungen zu gewinnen, müssen wir uns damit abfinden, daß allesineinander fließt.’”5 Rudolf Eucken (1846–1926) taught philosophy from 1871 in Basel, and from 1874 inJena. He propagated a neo-idealistic philosophy of creative activism and received theNobel Prize for Literature in 1908.6 The issue is not arcane. The accession of Turkey to the European Union is said by someto revolve on Turkish policy being compatible with European Christian values.7 Unfortunately, Eucken turned, to his later chagrin, explicitly against Schmoller’sunresentful quest for empirical evidence.8 This was when we had just completed our conference on Friedrich Nietzsche’s influenceon the social sciences, and Wolfgang Schluchter gave his lecture in Erfurt on MaxWeber, detailing how Friedrich Nietzsche had influenced both Max and Alfred Weber’swork (see Schluchter et al. forthcoming).9 In contrast to his teacher Schumacher, or to Schmoller and Sombart, he seems to havebeen extremely aloof of economic activities, as they actually happen. An internship in abank would probably have pushed his insight extremely, but perhaps he would havethen been lost from the academic community.10 See insertion I.11 See insertion II.12 The source of this identification is the purpose of this essay (see Buchanan 1969).13 For an analysis of the importance of the first three options see Hirschman (1970).14 The legal implications of this rather apodictive statement have to be further explored.15 See for instance for a short statement Leland B. Yeager (1985: 103–7 with furtherreferences).16 Cambridge: Harvard University Press, 1962.17 Journal of Political Economy.18 Own price observation.ReferencesBackhaus, Jürgen (1989). Sombart’s Modern Capitalism. Kyklos, 42(4): 599–611. Reprinted in:Blaug, Mark (ed.) (1992) Pioneers in Economics, Volume 30, Section III. Aldershot: EdwardElgar, pp. 93–105.Backhaus, Jürgen (1999). Land Rents and Ecological Crisis: The Case of the Oder RiverValley. American Journal of Economics and Sociology, 58(2): 249–52.Backhaus, Jürgen (ed.) (in press). The Social Question. Journal of Economic Studies.Backhaus, Jürgen (ed.) with Günter Krause (1997). On Political Economy of Transformation:Country Studies. Metropolis Verlag.Backhaus, Jürgen (ed.) with Plamen Tchipev and Frank Stephen (1998). Mass PrivatisationSchemes in Central and East European Countries. Implications on Corporate Governance. Sofia:GorexPress.Buchanan, James (1969). Cost and Choice. Chicago, IL: Markham.Eucken, Walter (1950). The Foundations of Economics (translated by Terence W. Hutchison).London: W. Hodge.Eucken, Walter (1951). This Unsuccessful Age of the Pains of Economic Progress, with anIntroduction by John Jewkes. London: W. Hodge.Gehrken, Lüder (ed.) (2000). Walter Eucken und sein Werk: Rückblick auf den Vordenker der SozialenMarktwirtschaft (Walter Eucken and his Œuvre: Looking Back at the Intellectual Founderof the Social Market Economy). Tübingen: Mohr Siebeck.