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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 analysis 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).

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Source: Backhaus Jürgen G. (ed.). The Elgar Companion to Law And Economics. Second Edition. Edward Elgar,2005. – 777 p.2. 2005
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