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Topic: Austrian School

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  Austrian School - Wikipedia, the free encyclopedia
The Austrian School is a school of economic thought that rejects economists' overreliance on methods used in natural science for the study of human action, and instead bases its formalism on a logic of action known as praxeology.
The Austrian School is generally associated with groups that label themselves classical liberals or libertarian in their ideas of social, political and economic organization.
Austrian economists developed a sense of themselves as a school distinct from neoclassical economics during the economic calculation debate, with Ludwig von Mises and Friedrich von Hayek representing the Austrian position, where they contended that without monetary prices or private property, meaningful economic calculation was impossible.
en.wikipedia.org /wiki/Austrian_School   (1883 words)

The "Austrian School" (also known as the "Vienna School") emerged around one of the pioneers of the 1871 Marginalist Revolution, Carl Menger at the University of Vienna.
The early Austrian School was to influence economists beyond the boundaries of the Austro-Hungarian Empire.
The Austrian School's traditional duel with the Marxians took on a new dimension when several prominent Paretians rode into the assistance of the Marxians by concurring with the possibility of an efficient socialist organization of economic society, what became known as the "Socialist Calculation" debate.
cepa.newschool.edu /het/schools/austrian.htm   (2417 words)

 sociology - Austrian School
The Austrian School is a school of economic thought which rejects opposing economists' reliance on methods used in natural science for the study of human action, and instead bases its formalism of economics on relationships through logic or introspection called praxeology.
Though many Marxist authors have attempted to portray the Austrian school as a bourgeois reaction to Marx, such an interpretation is untenable: Menger wrote his Principles of Economics at almost the same time as Marx was completing Das Kapital.
While the Austrian school itself is radically conservative many of their specific problems with the neo-classical formulation have analogs in other parts of economics.
www.aboutsociology.com /sociology/Austrian_School   (1755 words)

These followers of the Austrian school of economics reject the empirical approach of mainstream economists; instead, they use examples such as Robinson Crusoe to explain certain principles.
Austrians oppose anti-trust laws, asking why a firm should be punished for performing better than its competitors.
Austrians explicitly avoid these types of generalizations, they say, recognizing that people and markets are inherently dynamic and unpredictable.
www.lightparty.com /Economic/Austrian.html   (798 words)

 Austrian Economics, by Deborah L. Walker: The Concise Encyclopedia of Economics: Library of Economics and Liberty
The Austrian school of economics dates from the 1871 publication of Carl Menger's Principles of Economics (Grundsätze der Vokswirtschaftslehre).
Austrian analysis fell out of favor with the economics profession during the fifties and sixties, but the awarding of the Nobel Prize in economics to Hayek in 1974, coupled with the spread of Mises's ideas by his students and followers, led to a revival of the Austrian school.
Although Austrian economists are not alone in their methodological individualism, they do not stress the maximizing behavior of individuals in the same way as mainstream neoclassical economists.
www.econlib.org /library/Enc/AustrianEconomics.html   (2196 words)

 The Austrian School of Economics as a Popperian Research paper . Rafe Champion
The leading features of the Austrian tradition include methodological individualism, the origin of social institutions as the unintended consequences of human action, the salience of dynamic competition and entrepreneurial innovation in the marketplace, the subjective theory of value, recognition of the time factor in social and economic processes, and the uncertainty of human knowledge.
Contemporaries include Ludwig Lachmann and Israel Kirzner The Austrian tradition appeared to be firmly placed in the mainstream of the economics profession until Keynes captured the field in the 1930s and the Austrians became practically invisible until the movement staged a revival in the 1970s.
Praxeology is the distinctive methodology of the Austrian school.
www.the-rathouse.com /RC_PopperPaper.html   (3556 words)

 School of Thought - Austrian School of Economics: The Online Library of Liberty
The Austrian School of Economics emerged after the publication in 1871 of a trilogy of works (by Jevons, Walras, and Menger) which introduced the idea of the subjective theory of value and began what has been called "the marginal revolution" in economic thought.
He was a member of the "Austrian school of economics";, taught at the London School of Economics, wrote extensively on banking and monetary theory, the socialist calculation debate, and the theory of spontaneous orders.
One of the founders of the Austrian School of economics.
oll.libertyfund.org /Home3/Schools.php?Group=13   (2397 words)

 Austrian School Economists
The Austrian School of Economics at the University of Viennaby
The Methodology of the Austrian School Economists - Carl Menger
The foundations of the Austrian School of Economics were laid, and the blueprint for its future development drawn, with the publication in 1871 of Menger's Grundsätze der Volkswirthschaftslehre (English translation, Principles of Economics).
www.angelfire.com /pa/sergeman/issues/austrian/main.html   (2535 words)

 What is Austrian Economics
The story of the Austrian School begins in the fifteenth century, when the followers of St. Thomas Aquinas, writing and teaching at the University of Salamanca in Spain, sought to explain the full range of human action and social organization.
It was his research and writing that solidified the status of the Austrian School as a unified way of looking at economic problems, and set the stage for the School to make huge inroads in the English-speaking world.
The debate between the Austrians and the socialists continued for the next decade and beyond, and, until the collapse of world socialism in 1989, academics had long thought that the debate was resolved in favor of the socialists.
www.mises.org /austrian.asp   (2808 words)

 Economics 333 Syllabus Spring 1999
The Austrians flourished early in the 20th century, and were known for their critiques of equilibrium theory and econometrics as well as their opposition to Keynesianism and economic planning.
One of the distinct characteristics of the Austrian school is its methodological and philosophical approach to economics.
The modern Austrian school derives directly out of this work and we will take a very close look at the arguments he was raising there and begin to compare them to how mainstream economics looks at the same issues.
it.stlawu.edu /shor/Teaching/s99333.htm   (2303 words)

 History of Economic Thought: The Austrian School   (Site not responding. Last check: 2007-10-22)
The Austrian Critique of Marx from Bohm-Bawerk to Mises.
Austrian economics, by most observers of economic science, is viewed as closely associated with classical liberalism politics.
Austrian economists, however, are insistent that their approach to economics is "value free" and not ideological.
www.ceu.hu /crc/Syllabi/west-syllabi/documents/Economics/boettke.html   (3045 words)

 [No title]
The Austrian school, it is true, assigns to the propositions a slightly different meaning and a slightly different basis; to this point I shall revert later.
In this way does the Austrian school state the problem of interest, the solution of which is essential to the complete solution of the problem of the value of capital.
The Austrian school, while indicating utility as the root and measure of that love, seeks to establish this principle in the sphere of material objects, as the utilitarians do in estimating moral values.
socserv2.socsci.mcmaster.ca /~econ/ugcm/3ll3/wieser/austrian.txt   (4690 words)

 Austrian School: Subjectivism
Austrians claim that attempting to understand individual actions through statistics or other group generalizations is mistaken, for all the reasons outlined in the previous section.
Both mainstream and Austrian economists agree that economics is "primarily concerned with the efficient allocation of scarce resources among competing uses." (4) But resources are often discovered by accident -- for example, the well-driller who strikes oil, the sailor who discovers an island, or the coal miner who finds gold.
The subjective effect that Austrians evoke is actually slight; the vast majority of people are not subjectively interacting with each other on the market, but are responding to market trends created by a small group of discoverers.
www.huppi.com /kangaroo/L-ausms.htm   (1037 words)

 HSR Online Spring 97
The early development of the Austrian school of economics, and the intellectual battle waged between it and the German historical school are episodes in the history of thought which have been largely overlooked.
Carl Menger (1840-1921) was born in Austrian Poland, the son of a lawyer.
The third of the trio of the Austrian school's founders is Friedrich Wieser (1851-1926).
www.gmu.edu /departments/ihs/hsr/s97hsr.html   (3807 words)

 Austrian School: Introduction   (Site not responding. Last check: 2007-10-22)
The Austrian School of Economics is an anarchist branch of economics that has attracted a wide libertarian following.
The Austrian School is not a monolithic ideology.
Austrians believe that all explanations of human behavior can be traced back to the individual.
home.att.net /~Resurgence/L-ausintro.htm   (1146 words)

Access to Fachhochschule Bachelor programmes is based on the Reifeprüfung/Matura or on the Studienberechitigungsprüfung for non-secondary school leavers, or on a relevant professional qualification in combination with certain additional examinations in subjects of general education.
Access to Fachhochschule diploma programmes is based on the Reifeprüfung/Matura or on the Studienberechtigungsprüfung for non-secondary school leavers, or on a relevant professional qualification in combination with certain additional examinations in subjects of general education.
Foreign nationals who enjoy equal status with Austrian nationals are: citizens of Luxemburg, citizens of Liechtenstein and those born in the province of Bolzano (Italy) with German mother tongue, who have declared themselves members of these language communities and who do not have Austrian citizenship.
www.euroeducation.net /prof/ausco.htm   (2532 words)

 Property Rights and Externality: The Ethics of the Austrian School   (Site not responding. Last check: 2007-10-22)
The Austrian critique of Coase is powerful, and a thoughtful Christian may well find substantial agreement with this and many other contributions of the Austrian School.
The resource, dubbed "Austrian Pure Snow Trees," happens to be the only cure for cancer, but the sect fervently believes that using the trees for curing disease would be a sacrilege resulting in certain eternal damnation.
Austrians are deeply divided on their ethical views, and in many cases it is difficult to see any ethical views in their work.
www.acton.org /publicat/m_and_m/1999_fall/terrell.html   (4142 words)

 Austrian School: Scientific Method   (Site not responding. Last check: 2007-10-22)
Austrians accept this method in principle, but argue that it is more appropriate for hard sciences like physics or chemistry, not soft sciences like sociology or economics.
Austrian economists make claims about the market (such as markets know better than governments), but then deny us the tools for verifying those claims (such as statistics).
Austrians may be using the term "a priori" to mean logical proofs or axioms, such as "If A=B, and B=C, then A=C." But if Austrians were creating economic axioms that were true by logical force, then the Austrian School would become world famous overnight, whether mainstream economists liked it or not.
home.att.net /~resurgence/L-aussm.htm   (986 words)

 Nassau Institute
You might have guessed it but Austrian Economics or the Austrian School of Economics received this name because its founder and early contributors came from Vienna in Austria.
Interest in the Austrian School took hold again in the 1930's as a result of the works of Ludwig von Mises and Friedrich von Hayek and was piqued in the late 1940's with the publication of Mises' masterpiece, "Human Action".
The Austrian School is in good hands for the 21st Century and beyond.
www.nassauinstitute.org /wmview.php?ArtID=578   (725 words)

 Austrian School: Politics
Another important Austrian is Murray Rothbard, whose writings advocating liberty and peace often masked a hostility and prejudice towards the less fortunate.
Likewise, Austrian politics flow from their economic beliefs: that the forces of competition should be completely unleashed, and whatever the losers get is what they deserve.
To defeat the Austrian School's proposal, all liberals need to do is publicize the Hobbesian nature of it as much as possible.
www.huppi.com /kangaroo/L-auspoli.htm   (1245 words)

 Austrian School of Economics   (Site not responding. Last check: 2007-10-22)
The Austrian School of Economics is a tiny group of libertarians at war with mainstream economics.
But this is the very method that thousands of religions use when they argue their opposing beliefs, and the fact that the world has thousands of religions proves the fallibility of this approach.
Academia has generally ignored the Austrian School, and the only reason it continues to exist is because it is financed by wealthy business donors on the far right.
www.aliveness.com /kangaroo/L-ausmain.htm   (162 words)

 Dolan, The Foundations of Modern Austrian Economics, Front Matter: Library of Economics and Liberty
Both the Austrian school and its orthodox competitor trace their origins to the restructuring of economic science that took place in the 1870s.
The Austrian school, although failing to achieve dominance in the international profession, retained its own identity and did not become wholly absorbed into neoclassicism.
By the end of the decade of the thirties, the Keynesian system had attracted the greatest number of adherents, and the Austrian school, after a brief period of prominence, was left to pursue an independent course in relative obscurity.
www.econlib.org /library/NPDBooks/Dolan/dlnFMA0.html   (997 words)

 Austrian School   (Site not responding. Last check: 2007-10-22)
The methodological and ideological battle between the "old school" apologists and the "new school" historicists came to a head in 1885, with the formation of the American Economic Association in 1885.
Robbins to the London School of Economics in 1931, which was to become a conduit for Austrian concepts to spread throughout the Anglo-American world, notably in the hands of Hayek's younger colleagues and students, such as John
Keynesian orthodoxy and resurrected some of the old Austrian policy positions, did not embrace and was not embraced by the American Austrians.
dks.thing.net /Austrian_School.html   (4549 words)

 Amazon.com: The historical setting of the Austrian school of economics: Books: Ludwig von Mises,Ludwig von Mises   (Site not responding. Last check: 2007-10-22)
The School was focused in Vienna, which at the time was the head of the "multi-cultural" Austro-Hungarian Empire.
The Austrian School was on the side of liberalism (which at that time meant less government) and its central opponents were members of the German Historical School, which supported statist economic policies and was allied with the Prussian monarchy.
The philosophical underpinning of the School was the rationalist philosophy of Kant and Leibniz, with the influence of philosophers such as Brenanto (who influenced Husserl).
www.amazon.com /exec/obidos/tg/detail/-/0870009966?v=glance   (516 words)

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