Editing Methodenstreit (section)

== Consequences ==

The term "Austrian school of economics" came into existence as a result of the ''Methodenstreit,'' when Schmoller used it in an unfavourable review of one of Menger's later books, intending to convey an impression of backwardness and [[obscurantism]] of [[Cisleithania|Austria]] compared to the more modern [[Prussia]]ns. A serious consequence of the hostile debate was that Schmoller went so far as to declare publicly that members of the "abstract" school were unfit to fill a teaching position in a German university, and his influence was quite sufficient to make this equivalent to a complete exclusion of all adherents to Menger's doctrines from academic positions in Germany. The result was that even thirty years after the close of the controversy Germany was still less affected by the new ideas now spreading elsewhere, than any other academically important country in the world.<ref>'Carl Menger'. Introduction by [[Friedrich A. Hayek]], printed in the English translation of Carl Menger's ''[[Principles of Economics (Menger)|Principles of Economics]]'', New York University Press, 1981. page 25.</ref>