The paper starts off with a portrayal of Eduard März’ life in Vienna and of the impact that environment had on his early scientific work. The paper proposes that the shared experience had a strong bearing on the relationship between the student M¨arz, “that fascinating immigrant” (James Tobin), and his teacher Schumpeter, the “high priest of his science” (M¨arz). The paper highlights the various facets of this unique relationship including the interesting differences in the interpretations of the student and his teacher regards Marxian theory, Austro-Marxism and social policy