Oskar Morgenstern on Economic Data

23 August 2006 at 8:53 am 2 comments

| Peter Klein |

Philipp Bagus rehabilitates Oskar Morgenstern’s great, and underappreciated, book On the Accuracy of Economic Observations, first published in 1950. Morgenstern’s target was national income statistics and macro-econometric forecasting, but many of the same issues apply to business forecasting as well.

Entry filed under: - Klein -, Austrian Economics, Methods/Methodology/Theory of Science.

Methodological Individualism and the Selfish Gene Take That, Berle and Means

2 Comments Add your own

  • 1. Nicolai Foss  |  23 August 2006 at 9:10 am

    I am by no means a Morgenstern scholar but I suspect that the book is considerably older and was first published in German.

  • 2. Peter Klein  |  23 August 2006 at 9:26 am

    Possibly, I was referring to the first English edition.

    BTW, are any readers familiar with Morgenstern’s monograph “Prolegomena to a Theory of Organization,” written for the RAND Corporation in 1951? Michael Godfrey has made a copy available here:

    Click to access prolegom.pdf

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Trackback this post  |  Subscribe to the comments via RSS Feed


Nicolai J. Foss | home | posts
Peter G. Klein | home | posts
Richard Langlois | home | posts
Lasse B. Lien | home | posts


Former Guests | posts


Recent Posts

Recent Comments



Our Recent Books

Nicolai J. Foss and Peter G. Klein, Organizing Entrepreneurial Judgment: A New Approach to the Firm (Cambridge University Press, 2012).
Peter G. Klein and Micheal E. Sykuta, eds., The Elgar Companion to Transaction Cost Economics (Edward Elgar, 2010).
Peter G. Klein, The Capitalist and the Entrepreneur: Essays on Organizations and Markets (Mises Institute, 2010).
Richard N. Langlois, The Dynamics of Industrial Capitalism: Schumpeter, Chandler, and the New Economy (Routledge, 2007).
Nicolai J. Foss, Strategy, Economic Organization, and the Knowledge Economy: The Coordination of Firms and Resources (Oxford University Press, 2005).
Raghu Garud, Arun Kumaraswamy, and Richard N. Langlois, eds., Managing in the Modular Age: Architectures, Networks and Organizations (Blackwell, 2003).
Nicolai J. Foss and Peter G. Klein, eds., Entrepreneurship and the Firm: Austrian Perspectives on Economic Organization (Elgar, 2002).
Nicolai J. Foss and Volker Mahnke, eds., Competence, Governance, and Entrepreneurship: Advances in Economic Strategy Research (Oxford, 2000).
Nicolai J. Foss and Paul L. Robertson, eds., Resources, Technology, and Strategy: Explorations in the Resource-based Perspective (Routledge, 2000).

%d bloggers like this: