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Why are There no Austrian Social Democrats?

In: Assessing Austrian Economics

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  • John Meadowcroft

Abstract

This chapter argues that if Austrian economics is to attain the influence, impact, and esteem enjoyed by comparable traditions, it cannot continue to produce research that only and always reaches free market conclusions. While the foundational principles of Austrian economics are incompatible with socialism, this does not settle every policy question in favor of laissez-faire. Factors such as historical circumstances and the particularities of local contexts should lead Austrians to take seriously some arguments in favor of government intervention. Freed from its ideological shackles, Austrian economics can provide a powerful toolkit for positive, scientific research addressing the most important questions in contemporary political economy.

Suggested Citation

  • John Meadowcroft, 2019. "Why are There no Austrian Social Democrats?," Advances in Austrian Economics, in: Assessing Austrian Economics, volume 24, pages 89-100, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:aaeczz:s1529-213420190000024009
    DOI: 10.1108/S1529-213420190000024009
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    Cited by:

    1. Ilia Murtazashvili, 2023. "Does capitalism have a future? A review essay of Peter Boettke’s The Struggle for a Better World and Daniel Bromley’s Possessive Individualism: A Crisis of Capitalism," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 36(4), pages 589-604, December.

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