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"This book explores the thought of the three 'founding' members of the Austrian School of economics: Carl Menger, Friedrich von Wieser and Eugen Böhm-Bawerk, considering the overlapping and specialisation of their work on money, value and capital. Offering an incisive overview of the work of three important, but often-neglected figures, the author sheds fresh light on the transition from Adam Smith's economics and the thought of the German School, to modern economic theory, considering also the influence of the Austrian School on the work of Max Weber. As such, it will appeal to scholars with interests in the history of ideas, economic theory, political economy and social theory"--

This article does not pretend to represent an exhaustive survey of all the differences and similarities existing between Joseph Schumpeter and his fellow Austrians. To have carried out such a task would have required a detailed knowledge of the literature which was beyond that of the present writer. Instead, what is offered here is a particular interpretation of the major characteristics of Austrian economics, the relationship of Schumpeter to these, together with some fragmentary evidence in support of the views expressed. The article begins with a brief resumé of the leading personalities of the Austrian School of Economics. In the second section the suggestion that Schumpeter was not a true member of the Austrian School is examined. It is shown that the minor differences which did exist between Schumpeter and his colleagues on technical questions are more than outweighed by agreement on the substantive issues of their economic analysis. The third section deals with the attitudes of the Austrian School to questions of method while the remaining sections deal with the classical tradition in the theory of economic growth.

Erudite, accessible and lucidly written, this book provides both a stimulating introduction and excellent summary of the core principles, ideas and diversity of modern Austrian economics. The Austrian school was well within the mainstream of economic thought by the 1930s, but fell from prominence by the middle of the twentieth century. There was a renewed interest in the Austrian school's ideas beginning in the 1970s which has accelerated recently, but many economists do not have a good understanding about the distinguishing values and characteristics that set it apart. This volume is aimed at

AbstractIn this paper we analyse the concept of coerced exchange (and partly of voluntary exchange inasmuch as the absence of coercion is its necessary condition), which is of utmost importance to economic theory in general and to the Austrian School of Economics in particular. The subject matter literature normally assumes that a coerced action occurs under threat. Threats in turn can be studied from the perspective of speech act theory, which is concerned with the speaker's intentions. Ultimately, our goal is to provide a descriptive (i.e. non-moralized) definitions of threat and coercion, based on the analysis of the coercer's intentions. If successful, we would be in a position to present such an account of coerced and voluntary exchanges that is compatible with both speech act theory and the Austrian methodology. Although we focus on the Austrian School of Economics, we believe that our investigations might impact on economic theory in general. We also criticize a rights-based account of coercion employed in the research practice of some neo-Austrians and based on the libertarian ethic of property rights.

This book provides an overview of the evolution and theories of the Austrian School of Economics and develops answers to current economic questions and the pressing problems of the 21st century from the Austrian perspective. Readers will learn about the fundamental ideas of the Austrian School, the current state of Austrian economics, and the intellectual figures and institutions that sustain it as a vibrant intellectual movement. International experts on Austrian economics cover topics such as the economic impact of pandemics, trade blocs, federalism and European integration, and the economic development of China. The book also discusses the influence of the Austrian School on modern economic thought and mainstream economics, as well as on policymakers. It will appeal to students and scholars of economics and to anyone interested in social and economic liberalism.

Summarises the main distinguishing theoretical notions of the Austrian school of economics. Speculates on the question of how it was linked to other currents of thought in Austria around the turn of the nineteenth to the twentieth century. Discusses the reasons for the unique longevity and for the social cohesion of the school, and how it disseminated its ideas and was a major influence on 'western' thought. Asks why the school held itself aloof from economic policy while at the same time influencing it. (JLN)