Prof Hinaunye Eita Director The Karl Mittermaier Centre for the Philosophy of Economics (KMCPE), located within the School of Economics, was established to recognise, honour, and continue the legacy of Professor Karl Mittermaier. While Professor Mittermaier spent his academic career at the University of the Witwatersrand, his intellectual legacy has found a renewed and enduring home through a unique partnership between the University of Johannesburg and Mrs Isabella Mittermaier (Karl Mittermaier’s widow). The Centre stands among the University of Johannesburg’s distinguished research entities, ensuring that his philosophical approach to economics remains vibrant, relevant, and influential. This partnership represents more than institutional collaboration; it embodies the continuation of Professor Mittermaier’s vision. The core mission of the Centre is to promote and advance the work of Karl Mittermaier, an exceptional scholar whose contributions span both economics and philosophy. His work continues to gain international recognition—for instance, The Hand Behind the Invisible Hand: Dogmatic and Pragmatic Views on Free Markets and the State of Economic Theory was ranked 28th among the “50 Best Economics Theory Books of All Time” by BookAuthority. The establishment of the Centre is particularly timely. Renewed global attention to the philosophical foundations of economics, especially in the wake of recent economic crises, has amplified the relevance of Mittermaier’s work. The Centre’s mission aligns closely with the School of Economics’ commitment to generating new ideas that address pressing societal and economic challenges. A defining feature of Mittermaier’s scholarship is his distinction between economic theory and methodology. He argued that while economics increasingly employs sophisticated analytical tools, its underlying subject matter is often insufficiently understood. His work raises enduring questions that remain central to the discipline today: How do we distinguish between the tools of economics and its true subject matter? What philosophical foundations underpin economic theory? And how can we develop new ways of understanding economic phenomena rather than merely applying existing tools in new contexts? Mittermaier’s legacy transcends institutional boundaries. His contribution lies in bridging rigorous economic analysis with deep philosophical inquiry. Through the establishment of the Centre, future generations of economists are encouraged to engage in the fundamental questions he KARL MITTERMAIER CENTRE FOR ECONOMIC PHILOSOPHY (KMCEP) School of Economics 62 College of Business and Economics | Annual Report 2025
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