Austrian Economics: Tensions and New Directions

In: Recent Economic Thought Series 30

In: Recent Economic Thought 30

Abstract

This volume considers what the future might hold for the Austrian tradition of economics. This includes the areas that seem most promising for new research. Instead of criticizing other positions from the standpoint of Austrian analysis, the book turns a critical eye on the Austrian program itself -- where its weak points are, and how important they are in an overall assessment of the Austrian position. The book successfully criticizes many topics related to the Austrian school of thought. Starting with the historical and methodological issues, it examines subjectivism, market coordination, institutions, political economy and evolutionary theory. It concludes with an Afterword by Mario Rizzo and Larry White, which both appraises the contents and assesses the approaches propounded in the volume