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1 – 10 of over 3000
Book part
Publication date: 28 October 2019

Josef Šíma

The chapter argues that, for the long-term successful survival of the Austrian School as a distinct school of thought, the work on the theory must not be sacrificed in the…

Abstract

The chapter argues that, for the long-term successful survival of the Austrian School as a distinct school of thought, the work on the theory must not be sacrificed in the name of short-term success in producing applied pieces of scholarship and of communicating with the mainstream. Advances in modern work in pure theory and methodology provide a necessary glue connecting individual pieces of applied research – and the debates about boundaries of the school contribute toward the reappraisal of Austrian School identity.

Book part
Publication date: 23 July 2016

Peter J. Boettke, Christopher J. Coyne and Patrick Newman

This chapter provides a comprehensive survey of the contributions of the Austrian school of economics, with specific emphasis on post-WWII developments. We provide a brief…

Abstract

This chapter provides a comprehensive survey of the contributions of the Austrian school of economics, with specific emphasis on post-WWII developments. We provide a brief history and overview of the original theorists of the Austrian school in order to set the stage for the subsequent development of their ideas by Ludwig von Mises and F. A. Hayek. In discussing the main ideas of Mises and Hayek, we focus on how their work provided the foundations for the modern Austrian school, which included Ludwig Lachmann, Murray Rothbard and Israel Kirzner. These scholars contributed to the Austrian revival in the 1960s and 1970s, which, in turn, set the stage for the emergence of the contemporary Austrian school in the 1980s. We review the contemporary development of the Austrian school and, in doing so, discuss the tensions, alternative paths, and the promising future of Austrian economics.

Details

Research in the History of Economic Thought and Methodology
Type: Book
ISBN: 978-1-78560-960-2

Keywords

Article
Publication date: 1 March 1985

Tomas Riha

Nobody concerned with political economy can neglect the history of economic doctrines. Structural changes in the economy and society influence economic thinking and…

1788

Abstract

Nobody concerned with political economy can neglect the history of economic doctrines. Structural changes in the economy and society influence economic thinking and, conversely, innovative thought structures and attitudes have almost always forced economic institutions and modes of behaviour to adjust. We learn from the history of economic doctrines how a particular theory emerged and whether, and in which environment, it could take root. We can see how a school evolves out of a common methodological perception and similar techniques of analysis, and how it has to establish itself. The interaction between unresolved problems on the one hand, and the search for better solutions or explanations on the other, leads to a change in paradigma and to the formation of new lines of reasoning. As long as the real world is subject to progress and change scientific search for explanation must out of necessity continue.

Details

International Journal of Social Economics, vol. 12 no. 3/4/5
Type: Research Article
ISSN: 0306-8293

Article
Publication date: 1 April 1983

David Simpson

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…

Abstract

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.

Details

Journal of Economic Studies, vol. 10 no. 4
Type: Research Article
ISSN: 0144-3585

Book part
Publication date: 10 August 2010

Richard M. Ebeling

In general, the term “Austrian Economics” has been used both descriptively and normatively. It has either designated a set of ideas about the fundamental nature of…

Abstract

In general, the term “Austrian Economics” has been used both descriptively and normatively. It has either designated a set of ideas about the fundamental nature of economic theory and its logical implications or it has been viewed as a conception of society and the market with certain policy implications concerning the limits to and dangers from government intervention and control.

Details

What is so Austrian about Austrian Economics?
Type: Book
ISBN: 978-0-85724-261-7

Article
Publication date: 1 December 2004

Timothy S. Kiessling and R. Glenn Richey

This manuscript discusses the contributions of Peter F. Drucker and the seminal influences on his logic made by the Austrian School of Economics. According to our…

3239

Abstract

This manuscript discusses the contributions of Peter F. Drucker and the seminal influences on his logic made by the Austrian School of Economics. According to our research, Drucker focused on four critical elements of the Austrian School: an interdisciplinary approach and philosophical sophistication; the vision of market competition as an endless dynamic process (creative destruction, entrepreneurship); the firm as a social entity and as a depository of knowledge; and the role of the government. The research also suggests that Peter Drucker's prolific legacy has significantly influenced modern management theory and practice through its grounding in Austrian School logic.

Details

Management Decision, vol. 42 no. 10
Type: Research Article
ISSN: 0025-1747

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Book part
Publication date: 21 November 2015

Eeva Kaisa Hyry-Beihammer and Tina Hascher

This chapter focuses on teaching practices used in multigrade classes and the importance of them being incorporated in teacher education as promising pedagogies for future…

Abstract

This chapter focuses on teaching practices used in multigrade classes and the importance of them being incorporated in teacher education as promising pedagogies for future use. Multigrade classes – defined as classes in which two or more grades are taught together – are common worldwide. Hence, there is a need for teacher candidates to become familiar with how to teach in split grade classrooms. However, research on multigrade teaching as well as its development in teacher education studies has been neglected, even though multigrade teachers need special skills to organize instruction in their heterogeneous classrooms. We argue that in successful multigrade teaching practices, the heterogeneity of students is taken into account and cultivated. Based on content analysis of teacher interviews conducted in Austrian and Finnish primary schools, we recommend teaching practices such as spiral curricula, working plans, and peer learning as promising teacher education pedagogies for future multigrade class teaching. We also suggest that the professional skills required in high-quality teaching practices in multigrade teaching should be further studied by researchers and educators.

Details

International Teacher Education: Promising Pedagogies (Part C)
Type: Book
ISBN: 978-1-78441-674-4

Keywords

Book part
Publication date: 28 October 2019

Nicolai J. Foss

This is a, somewhat indirect, rejoinder to Boettke (2019, this volume, Chapter 1). Doing Austrian economics is low prestige: Austrian economics does not get published in…

Abstract

This is a, somewhat indirect, rejoinder to Boettke (2019, this volume, Chapter 1). Doing Austrian economics is low prestige: Austrian economics does not get published in high-prestige journals and Austrian economists are not employed by top universities. And yet, up until World War II Austrian economics was an important part of the international economics community. The author argues that Austrian economists made several theoretical innovations that could have placed them at the frontier of research in economics, and present a brief counterfactual history of a thriving Austrian economics based on those innovations. However, the actual history of the Austrian School is quite different. A particularly decisive factor that has made Austrian economics a fringe movement was the rejection of formal methods in theory and empirics. The author argues that Austrian economics is basically dying out as a voice in the conversation of modern economists.

Book part
Publication date: 10 August 2010

Roger Koppl

The papers collected here were written for the second biennial Wirth conference on Austrian Economics. The Wirth Institute for Austrian and Central European Studies…

Abstract

The papers collected here were written for the second biennial Wirth conference on Austrian Economics. The Wirth Institute for Austrian and Central European Studies sponsored the conference in cooperation with the University of Toronto in Mississauga. The conference was held from 17 to 18 October 2008 in Mississauga. The Wirth Institute has a natural home in Edmonton on the campus of the University of Alberta, which is a leading center for Central European Studies. The fact that the Institute has received support not only from government of Austria, but also from the governments of the Czech Republic, Hungary, Poland, Slovakia, and Slovenia reflects its historically minded recognition of the unique intellectual milieu of the Habsburg Empire. This intellectual milieu lasted beyond the breakup of the empire right through to the Anschluss in 1938. It is this milieu that shaped the Austrian school of economics and helped shape the context for the conference.

Details

What is so Austrian about Austrian Economics?
Type: Book
ISBN: 978-0-85724-261-7

Article
Publication date: 1 March 1988

L.B. Yeager

Austrian views on money and the gold standard are consonant with the general characteristics of the school. First, Austrians are concerned with the complete picture, with…

Abstract

Austrian views on money and the gold standard are consonant with the general characteristics of the school. First, Austrians are concerned with the complete picture, with how a whole economic system and alternative sets of institutions function. They are alert to the question of unplanned order and of how the decentralised decisions and specialised activities of millions of people can mesh without central planning. They investigate how the market and prices function as a vast communications system and computer, transmitting information and incentives and so enlisting knowledge scattered over many millions of minds that would otherwise necessarily go to waste. They recognise why accurate economic calculation is impossible under socialism. Second, the Austrians appreciate the implications of incomplete, imperfect and scattered knowledge and also the implications of change and unpredictability in human affairs. They pay attention to disequilibrium, to processes as well as end positions, and to entrepreneurial altertness and creativity. Instead of supposing, for example, that cost curves and demand curves are somehow “given” to business decision makers, they recognise it as one of the functions of the competitive process to press for discovery of ways to get the cost curves down — if one speaks of such curves at all. Third, Austrians have certain methodological predilections. They reject the tacit view of economic activity as the result of interplay among objective conditions and impersonal forces. They take pains to trace their analyses back to the subjective perceptions, decisions and actions of individuals trying to cope with a complex and unpredictably changeable world; they recognise introspection as one legitimate source of the facts underpinning economic theory. (While thus practising methodological individualism, they do not subordinate the big question of system‐wide co‐ordination to an excessively narrow focus on the administration of individual firms and households.) Finally, although Austrians like to think of their economics as value‐free and not logically tied to any particular policy position, their insights into positive economics, coupled with plausible value judgements of a humanitarian and individualistic nature, undeniably do lead them to favour free markets.

Details

Journal of Economic Studies, vol. 15 no. 3/4
Type: Research Article
ISSN: 0144-3585

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