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Prisching, Manfred --- "Emil Sax (1845-1927)" [1999] ELECD 47; in Backhaus, G. Jürgen (ed), "The Elgar Companion to Law and Economics" (Edward Elgar Publishing, 1999)

Book Title: The Elgar Companion to Law and Economics

Editor(s): Backhaus, G. Jürgen

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9781858985169

Section: Chapter 40

Section Title: Emil Sax (1845-1927)

Author(s): Prisching, Manfred

Number of pages: 10

Extract:

40 Emil Sax (1845-1927)
Manfred Prisching


Emil Sax, professor of economics at the German University of Prague from
1879 to 1893 and member of the Austrian Parliament, tried to apply Austrian
economic theory to politics, state and public finance, and further to all kinds
of human communities and social associations. While the Austrian School
emphasized methodological individualism and provided the basis for an analy-
sis of the market economy, thus preparing the foundation for the libertarian
views of later generations, Sax tried to develop a theory of public economics
based on Austrian ideas. Thereby he gained insights into the relation of law,
state and economy that deserve a closer look (Neck, 1989).

The analysis of individualisticand collectivistic phenomena
The mainstream of present economic theory confines its analysis to indi-
vidual actions, even when collectivistic phenomena are examined. In Sax's
view, however, social circumstances must be derived from two forces, indi-
vidualism and collectivism. This is an astonishing point of departure for an
Austrian economist who claims to cling to the individualistic approach, but
nevertheless acknowledges collectivism as a feature of human nature as well
as individualism.
Individualism is the inborn quality of man who considers himself the
centre of the social circle. It is his attitude to relate everything, means and
men, to himself. While the individualistic idea of personality is a product of
civilization, the germ is present in every person (Sax, 1884, pp.50f). How-
ever, the efforts of individuals collide with those of other persons ...