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The Austrian School of Economics

In: Hayek’s Journey

Author

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  • Alan Ebenstein

Abstract

The Austrian school of economics, from which Hayek emerged and to which he contributed, has shown remarkable perseverance, consistency, and development for over 130 years. One of the surprising aspects about the Austrian school is that no adequate history of it, even of its classical phase for the six decades or so after 1871, has been written. Of the first four most significant early figures who were associated with the Austrian school—Carl Menger, Eugen von Böhm-Bawerk, Friedrich von Wieser, and Ludwig von Mises—no adequate biography of any has been published. Though economic historian Karen Vaughn has written of the development of contemporary Austrian economics, there is as yet no full, encompassing history of Austrian approaches in economics from Menger to the present.

Suggested Citation

  • Alan Ebenstein, 2003. "The Austrian School of Economics," Palgrave Macmillan Books, in: Hayek’s Journey, chapter 3, pages 19-34, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-4039-7379-5_3
    DOI: 10.1007/978-1-4039-7379-5_3
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