Fallowing completing his studies he entered a Austrian Ministry of Finance. He spent a 1880s at the University of Innsbruck (1881-1889). In a period of this period he published the 1st both (away from ternary) volumes of his magnum opus, Capital and Interest.

Around 1889 he was known as to Vienna by the Finance Ministry to draft a proposal for direct tax reform. A Austrian patterns at a period taxed production heavy, especially in the period of wartime, providing massive deterrence to investment. Böhm-Bawerk's proposal known as for the modern income tax, which was soon approved & met by having much of profits in the next couple years.

He so became Austrian Minister of Finance in 1895 & his image was in the 1-hundred schilling note, he was to serve briefly & over again on the second occasion, although a third period he remained in the post from either 1900-1904. When Minister of finance he fought day and night for nonindulgent maintenance of the legally fixed gold standard and a balanced budget. Within 1902 he eliminated the sugar subsidy, which got been a feature of the Austrian economy for about 2 centuries. He eventually resigned around 1904, once a increased financial demands of the army threatened to unbalance dollars and cents. Economic historiographer Alexander Gerschenkron criticized his "penny pinching, 'not-one-heller-more-policies'," & lays good deal of the blame for Austria's economic subnormality in Böhm-Bawerk's involuntariness to spend heavy in public works projects. Joseph Schumpeter praised Böhm-Bawerk's efforts toward "the financial stability of the country."

He returned to teaching around 1904, by having a chair at the University of Vienna. He taught several students including Joseph Schumpeter, Ludwig von Mises and Henryk Grossman. He died around 1914.

Although he was the liberal he was not a radical libertarian that a label of Austrian economist suggests today. He wrote that he despised that uncurbed loose competition would lead to "anarchism in production and consumption." He wrote extensive critiques of Karl Marx's economics in the Eighties & Nineties, & many large Marxists--including Rudolf Hilferding--attended his seminar in 1905-06.

Published work

A number one volume of Capital & Interest, highborn History & Critique of Interest Theories (1884), is an thoroughgoing survey of the guide treatments of the phenomenon of interest: use theories, productivity theories, abstinence theories, & numbers of supplementary.

Too involved was the critique of Marx's exploitation theory. Böhm-Bawerk argued that capitalists don't exploit workers; it accommodate workers-by providing a two by owning income swell beforehand of the revenue from either the output it helped to green goods.

Karl Marx & a Close of His Rules (1896) argued that a wonder of how else income is distributed among a factors of production is fundamentally an economic-like than the political-wonder. & a Austrian guide attempted to rebut a labor theory of value as well as a thus-alleged "iron law of wages."

Böhm-Bawerk's Caring Theory of Capital (1889), offered when a 2nd volume of Capital & Interest, elaborated on the economy's period-ingesting production processes & of the interest payments it entail. Book Trio, Value & Price built in Menger's Information to present the distinctly Austrian version of marginalism:

More Essays in Capital & Interest (1921) wwhen a third volume, which originally began as appendicies to the 2nd volume.