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New Thinking in Austrian Economics

Author

Listed:
  • Peter J. Boettke

    (Department of Economics, George Mason University, Fairfax, Virginia, USA)

  • Christopher J. Coyne

    (Department of Economics, George Mason University, Fairfax, Virginia, USA)

Abstract

This review discusses the unique features of Austrian economics and some of the recent contributions of this school of thought. We organize these contributions in different research “buckets” in the hope that this will be a useful guide to readers while demonstrating the ongoing relevance of the contemporary Austrian school of economics for advancing scientific discourse. The research buckets discussed include robust political economy, macroeconomics, monetary economics, entrepreneurship and the market process, development economics, behavioral economics, governance, social economy, collective action challenges related to natural disaster recovery and infectious disease, and war and defense.

Suggested Citation

  • Peter J. Boettke & Christopher J. Coyne, 2023. "New Thinking in Austrian Economics," Annual Review of Economics, Annual Reviews, vol. 15(1), pages 329-347, September.
  • Handle: RePEc:anr:reveco:v:15:y:2023:p:329-347
    DOI: 10.1146/annurev-economics-082322-021346
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    More about this item

    Keywords

    Austrian economics; behavioral economics; development economics; entrepreneurship; governance; infectious disease; natural disasters; robust political economy; social economy; war;
    All these keywords.

    JEL classification:

    • B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian
    • D40 - Microeconomics - - Market Structure, Pricing, and Design - - - General
    • D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
    • E14 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Austrian; Evolutionary; Institutional
    • H70 - Public Economics - - State and Local Government; Intergovernmental Relations - - - General
    • K00 - Law and Economics - - General - - - General (including Data Sources and Description)
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • P00 - Political Economy and Comparative Economic Systems - - General - - - General
    • Z10 - Other Special Topics - - Cultural Economics - - - General

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