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The Austrian School of Economics: A view from London

Author

Listed:
  • Peter J. Boettke

    (George Mason University)

  • Rosolino A. Candela

    (Mercatus Center)

Abstract

This paper explores the intellectual context of the Department of Economics at the London School of Economics and Political Science (LSE) during the 1930s. We will be focusing on the contributions of F.A. Hayek, along with Lionel Robbins, in fostering an intellectual environment for the transmission and incorporation of Austrian economics, particularly the works of Ludwig von Mises. In doing so we illustrate that Hayek and Robbins were attempting to craft a unified tradition of economic theory that consisted of various strands of economic thought that had either contributed to, or were consistent with, the Austrian tradition. The work done by Hayek, as well as Robbins, at the LSE not only consolidated the ideas of the Austrian tradition that had developed from Vienna. In doing so, they also rearticulated the broader theoretical contributions of classical political economy as a counterweight against an emerging neoclassical and Keynesian paradigm.

Suggested Citation

  • Peter J. Boettke & Rosolino A. Candela, 2020. "The Austrian School of Economics: A view from London," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 33(1), pages 69-85, March.
    • Handle: RePEc:kap:revaec:v:33:y:2020:i:1:d:10.1007_s11138-019-00440-5
    DOI: 10.1007/s11138-019-00440-5
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    References listed on IDEAS

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    Cited by:

    1. Peter J. Boettke & Rosolino A. Candela, 2020. "Where Chicago meets London: James M. Buchanan, Virginia Political Economy, and cost theory," Public Choice, Springer, vol. 183(3), pages 287-302, June.
    2. Alexander Dow & Sheila Dow, 2021. "Coase and the Scottish Political Economy Tradition," Department Discussion Papers 2005, Department of Economics, University of Victoria.
    3. Art Carden & M. Scott King & Audrey Redford & James E. Hanley, 2021. "James M. Buchanan’s Constrained Vision in Cost and Choice ," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 36(Fall 2021), pages 91-109.

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    More about this item

    Keywords

    F.A. Hayek; Lionel Robbins; London School of Economics;
    All these keywords.

    JEL classification:

    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian

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