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Why are There No Austrian Socialists? Ideology, Science and the Austrian School

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  • Boettke, Peter J.

Abstract

The Austrian School of Economics has long been branded as a sort of radical laissez-faire wing within the economics profession, even much more “right-wing,” in fact, than Milton Friedman, the profession;'s most recognized “preacher” of the free-market. The economic journalist Alfred Malabre, Jr., for example, in his recent critical book on modern economics, Lost Prophets, argues that “the monetarism that Friedman and his followers were preaching was not quite as conservative as advertised. In fact, the University of Chicago professor was treading not far from the middle of the economic road, flanked on the left by the likes of Galbraith and Leontief and on the right by Hayek, along with such other Austrian-school luminaries as Hans Sennholz, chairman of the economics department at Grove City College in western Pennsylvania, and Ludwig von Mises, transplanted from Austria and finishing out a distinguished academic and writing career at New York University” (Malabre 1994, p. 144).

Suggested Citation

  • Boettke, Peter J., 1995. "Why are There No Austrian Socialists? Ideology, Science and the Austrian School," Journal of the History of Economic Thought, Cambridge University Press, vol. 17(1), pages 35-56, April.
    • Handle: RePEc:cup:jhisec:v:17:y:1995:i:01:p:35-56_00
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    Cited by:

    1. Mykola Bunyk & Leonid Krasnozhon, 2022. "Young Mr. Mises and younger historicists: origins of Mises’s liberalism," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 35(2), pages 177-191, June.
    2. Edward Stringham, 2014. "Extending the Analysis of Spontaneous Market Order to Governance," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 42(2), pages 171-180, June.
    3. Lopes, Tiago Camarinha, 2022. "Humans, technology and control: An essay based on the metalanguage of economic calculation," Journal of Economic Behavior & Organization, Elsevier, vol. 204(C), pages 631-642.
    4. Anthony J. Evans & Vlad Tarko, 2014. "Contemporary Work in Austrian Economics," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 29(Fall 2014), pages 135-157.
    5. Eduardo Angeli, 2018. "Caminhos da Escola Austríaca: relação com ortodoxia, engajamento e produção de novo conhecimento [Paths of the Austrian School: its relationship with orthodoxy, engagement and production of new knowle," Nova Economia, Economics Department, Universidade Federal de Minas Gerais (Brazil), vol. 28(2), pages 681-704, May-Augus.
    6. Anthony Evans, 2010. "Austrian economics behind the iron curtain: The rebirth of an intellectual tradition," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 23(3), pages 243-268, September.
    7. Peter Leeson & Peter Boettke, 2006. "Was Mises right?," Review of Social Economy, Taylor & Francis Journals, vol. 64(2), pages 247-265.
    8. Igor Wysocki, 2023. "Justice vis à vis welfare: how Austrian welfare economics should fit in the Austro-libertarian framework," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 40(2), pages 445-467, July.
    9. Fikret Adaman & Pat Devine, 2002. "A Reconsideration of the Theory of Entrepreneurship: A participatory approach," Review of Political Economy, Taylor & Francis Journals, vol. 14(3), pages 329-355.
    10. Prychitko David L., 2003. "Catholicism, Calvinism, and the Comparative Developement of Economic Doctrine," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 13(2), pages 1-23, June.

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