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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. Alongside this formalism, the school has traditionally advocated an interpretive approach. The praxeological method provides broad categories that apply to all human action, while the interpretive approach addresses specific historical events.
Its most famous adherents are Carl Menger, Eugen von Böhm-Bawerk, Friedrich von Wieser, Ludwig von Mises, Friedrich Hayek, Murray Rothbard, Israel Kirzner and Hans-Hermann Hoppe. While often controversial, and standing to some extent outside of the mainstream of neoclassical theory — as well as being staunchly against much of Keynes' theory and its results — the Austrian School has been widely influential because of its emphasis on the creative phase of economic productivity and questioning of the basis of the behavioral theory underlying neoclassical economics.
The Austrian School is generally associated with groups that label themselves laissez-faire liberal or libertarian in their ideas of social, political and economic organization.
More on [ Austrian School ]
Ludwig von Mises Institute - Probably the most active Austrian institution today. It has a large range of useful links for the study of Austrian economics, including a large number of working papers, access to the Quarterly Journal of Austrian Economics and the Austrian Economic Review, a large number of classic Austrian e-texts, a comprehensive and themed study guide and information about seminars and scholars conferences. It even has a quiz to see whether you are an Austrian economist.
Meta Description: [ The Ludwig von Mises Institute is the research and educational center of classical liberalism and the Austrian School of economics. Working in the intellectual tradition of Ludwig von Mises (1881-1973) and Murray N. Rothbard (1926-1995), with a vast array of publications, programs, and fellowship... ]
A Praxeological Theory of Morality - A new theory of morality conceived along the lines of Misean praxeology.
Austrian Capital Theory - Future of Macroeconomics - A paper from Roger Garrison exploring the difference between the Austrian School with Keynesianism and monetarism and predicting that the Austrian School will be taken more seriously in the future.
Austrian Capital Theory: The Early Controversies - An essay by Roger Garrison.
Austrian Economics - Entry from The Concise Encyclopedia of Economics by Deborah L. Walker.
Meta Description: [ Austrian Economics, by Deborah L. Walker: The Concise Encyclopedia of Economics ]
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Austrian Economics - A large collection of (mainly) Austrian essays from Liberty Haven.
Meta Description: [ Articles on: Buying Up Surpluses; Supply-Side Economics and Austrian Economics ]
Austrian School - An article from the open source encyclopedia, Wikipedia.
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Austrian School of Economics - A collection of short essays hostile to the Austrian School of Economics.
Meta Description: [ A collection of liberal essays
critiquing the Austrian School of Economics. ]
Austrian School of Economics - An essay arguing that the Austrian School is a classic example of crank science.
Meta Description: [ A collection of liberal essays
critiquing the Austrian School of Economics. ]
Program on the Foundations of the Market Economy - A graduate course at New York University centered around Austrian economics.
Review of Austrian Economics - Magazine focussing on Economic problems from an Austrian perspective, featuring student work.
Society for the Development of Austrian Economics - Sponsors panels, meetings, a journal, and numerous prizes.
Summer Seminar in Economics - Details of a summer seminar which is aimed at doctoral students with an interest in the Austrian School. Booking details with a range of online seminar readings, for previous years.
The Austrian Economists by Eugen Bohm-Bawerk - A survey of the early Austrian economists by one of their most influential members.
The Austrian School - Survey article in the History of Economic Thought website.
The Historical Setting of the Austrian School of Economics - An e-book that lays down the environment and achievements of the early Austrian economists. By the distinguished Austrian economist Ludwig von Mises
Meta Description: [ Mises's book The Historical Setting of the Austrian School of Economics ]
The Independent Austrian Economics Forum - An anarcho-capitalist forum that discusses various aspects of Austrian economic theory.
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Why I am not an Austrian Economist - Bryan Caplan, who used to regard himself as an Austrian economist, gives reasons why he has turned his back on the Austrian School.
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