Critique of Mainstream Austrian Economics in the Spirit of Carl Menger, Antal Fekete

2020 ◽  
Vol 21 (1) ◽  
pp. 163
Author(s):  
Antoine Gentier
Keyword(s):  
Austrian Economics ◽  
Carl Menger

Complexity and Austrian Economics

2015 ◽  
pp. 593-611 ◽  
Author(s):  
J. Barkley Rosser
Keyword(s):  
Austrian Economics ◽  
Austrian School ◽  
Austrian School Of Economics ◽  
Economic Complexity ◽  
Recent Developments ◽  
Carl Menger ◽  
Over Time ◽  
Friedrich Hayek

There is a deep link between complexity economics and Austrian economics. Ideas of complexity were foundational in the work of Austrian economics from its generally recognized beginnings in the work of Carl Menger to the modern day, with Friedrich Hayek being probably the most important carrier of this theme in the school. Although interest in complexity economics among Austrians has waxed and waned over time, today such ideas are quite influential in the work of many Austrian economists. This chapter discusses the varieties of economic complexity and the connection with the Austrian school of economics from Menger to Hayek, as well as more recent developments of Austrian views on complexity.

Austrian Economics and the Evolutionary Paradigm

2015 ◽  
pp. 575-593
Author(s):  
Naomi Beck ◽  
Ulrich Witt
Keyword(s):  
Future Development ◽  
Cultural Evolution ◽  
Group Selection ◽  
Industrial Development ◽  
Free Market ◽  
Central Element ◽  
Social Institutions ◽  
Austrian Economics ◽  
Preliminary Evaluation ◽  
Carl Menger

This chapter discusses the challenges raised by the inclusion of evolutionary elements in the theories of Carl Menger, Joseph Schumpeter, and Friedrich Hayek. Each adopted an idiosyncratic position in terms of method of inquiry, focus, and general message. The breadth of the topics and phenomena they cover testifies to the great variety of interpretations and potential uses of evolutionary concepts in economics. Menger, who made no reference to Darwin’s theory, advanced an “organic” view of the emergence of social institutions. Schumpeter elaborated an original theory of industrial development based on the recurrent emergence and dissemination of innovations. Hayek adopted the biological notion of group selection and made it the central element in his theory of cultural evolution and the rise of the free market. The chapter concludes with a preliminary evaluation of the possible role that evolutionary theorizing might play in the future development of Austrian economics.

scholarly journals Austrian Economics and the Evolutionary Paradigm*

2019 ◽  
Vol 57 (1) ◽  
pp. 205-225
Author(s):  
Naomi Beck ◽  
Ulrich Witt
Keyword(s):  
Future Development ◽  
Cultural Evolution ◽  
Group Selection ◽  
Industrial Development ◽  
Free Market ◽  
Central Element ◽  
Social Institutions ◽  
Austrian Economics ◽  
Preliminary Evaluation ◽  
Carl Menger

Abstract This article discusses the challenges raised by the inclusion of evolutionary elements in the theories of Carl Menger, Joseph Schumpeter, and Friedrich Hayek. Each adopted an idiosyncratic position in terms of method of inquiry, focus, and general message. The breadth of the topics and phenomena they cover testifies to the great variety of interpretations and potential uses of evolutionary concepts in economics. Menger, who made no reference to Darwin’s theory, advanced an “organic” view of the emergence of social institutions. Schumpeter elaborated an original theory of industrial development based on the recurrent emergence and dissemination of innovations. Hayek adopted the biological notion of group selection and made it the central element in his theory of cultural evolution and the rise of the free market. The chapter concludes with a preliminary evaluation of the possible role that evolutionary theorizing might play in the future development of Austrian economics.

scholarly journals From Karl Menger to Charles Menger? How Austrian economics (hardly) spread in France

2018 ◽  
Vol 4 (1) ◽  
pp. 8-30
Author(s):  
Gilles Campagnolo
Keyword(s):  
Political Economy ◽  
Cold War ◽  
Interwar Period ◽  
Austrian Economic ◽  
Vienna Circle ◽  
Economic Thought ◽  
Austrian Economics ◽  
Austrian School ◽  
Classical Political Economy ◽  
Carl Menger

The father of the “Austrian” Marginalist revolution and founder of the so-called “Austrian School of economics”, Carl Menger, had a mixed reception during different periods of development of French economics. Somewhat welcomed in the early days, he was rather forgotten later on. Even his major works were not published in translation until recently. What is the reason for such a situation? Criticisms of classical political economy have to be understood in their French context. In comparison to other countries, this paper details the case of France, besides showing how later Austrians, such as Friedrich Hayek, found a limited audience. This comparative study of economic ideas in France must start with the reception of the views of the founder and the role and impact of adopting/adapting or rejecting his views by French scholars. What place did they find in French academia? From Carl Menger to a “Frenchified” Charles Menger, how was Austrian economic thought disseminated in France? This essay starts by recalling the Belle-Époque and an astonishing letter by Charles Rist for the Jubiläum of Menger, in which he deplored the lack of translation of the latter’s works. The Austrian School in France is then discussed as pure economics replaces political economy in the Interwar period, with the 1938 Paris Congress of “liberal thinkers,” as the Vienna Circle became known, also comparing issues in philosophy. The paper considers how Austrian theories of “pure science” were received in Paris from the Vienna of the 1900s, at a time of ”Crossroads,” to the present day, through the Postwar and Cold War, until a revival since the 1990s and a rethinking of economic ideas after 2008.

Introduction

2015 ◽  
pp. xvi-10 ◽  
Author(s):  
Peter Boettke ◽  
Christopher J. Coyne
Keyword(s):  
Social Sciences ◽  
Austrian Economics ◽  
Austrian School ◽  
Late Nineteenth Century ◽  
Intellectual Tradition ◽  
Austrian School Of Economics ◽  
The Social ◽  
History Of ◽  
Carl Menger ◽  
Practical Implications

This chapter provides context for the The Oxford Handbook of Austrian Economics. The Handbook was designed to give an overview of the main methodological, analytical, and practical implications of the Austrian school of economics. The contributors provide a brief history of the intellectual tradition of the Austrian school of economics starting with Carl Menger in the late nineteenth century. In tracing this intellectual tradition, the authors provide the necessary background to understand the main methodological, analytical, and practical implications of the Austrian school. They also argue that Austrian economics is a lively and progressive research program in the social sciences.

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