From Paul Medow (9 January 1959)

From Karl Polanyi
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[20] RUTGERS • THE STATE UNIVERSITY

COLLEGE OF ARTS AND SCIENCES

Friday 9 jan '59

Dear Prof. Polanyi,

I have just spoken to the Rutgers … I discussed for nearly two hours Schumpeter's theory of economic development and also Weber's concept of “rationalization” towards the end. These simple points really imposes graduate students who have been struggling with Hicksian diagrams, and at the same time annoy some older members of the faculty. Still [21] I was able to reply rather clearly to about fifty objections, and even an incidental reference to Menger's approach to theory on distinct from that of Marshall resulted in a number of interested inquiries after the seminar.

[…]

Sincerely
Paul

Letter Informations

KPA: 50/04, 20-21

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