born Sept. 29, 1881, Lemberg, Austria-Hungary
died Oct. 10, 1973, New York, N.Y., U.S.
Austrian-U.S. economist whose theories followed those of the Austrian school of economics .
He taught at the University of Vienna (1913–38) before immigrating to the U.S. and joining the New York University faculty (1945–69). In The Anti-Capitalistic Mentality (1956), an examination of U.S. socialism, he dealt with the opposition to the free market by intellectuals, who, in his view, bear an unwarranted resentment toward mass demand, which is the basis of prosperity in big business.