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Austrian Economics as a Progressive Paradigm: Explaining More Complex Economic Phenomena

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  • Garcia-Brazales, Angel Rodriguez

Abstract

This article examines two major issues of Austrian economics. The first is the alleged superiority of Austrian over neoclassical economics. The second is the capacity of Austrian economics to support new theoretical research. The analysis shows that Austrian economics has the widest domain of validity for explaining economic phenomena. It is also shown that Austrian economics has a progressive theoretical character due to the fact that there exist a number of analytical phenomena that Austrian economics cannot explain in its present state but that may be explained by means of a "leap with continuity" from Austrian anthropological presuppositions. Copyright 2002 by Kluwer Academic Publishers

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  • Garcia-Brazales, Angel Rodriguez, 2002. "Austrian Economics as a Progressive Paradigm: Explaining More Complex Economic Phenomena," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 15(4), pages 335-357, December.
    • Handle: RePEc:kap:revaec:v:15:y:2002:i:4:p:335-57
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    Cited by:

    1. Múñoz, Féliz-Fernando & Encinar, María-Isabel & Cañibano, Carolina, 2016. "Agents, interaction, and economic laws: An analytical framework for understanding different economic theories," Working Papers in Economic Theory 2016/05, Universidad Autónoma de Madrid (Spain), Department of Economic Analysis (Economic Theory and Economic History).
    2. Steven E. Phelan, 2016. "Austrian theories of entrepreneurship: Insights from complexity theory," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 29(3), pages 277-297, September.
    3. Encinar, María Isabel & Muñoz, Félix & Cañibano, Carolina, 2006. "‘Ethical Novelty’: new insights into economic change," Working Papers in Economic Theory 2006/03, Universidad Autónoma de Madrid (Spain), Department of Economic Analysis (Economic Theory and Economic History).

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