January 1, 1988

The Methodology of the Austrian School Economists

  • Lawrence H. White

    Distinguished Senior Fellow, F. A. Hayek Program for Advanced Study in Philosophy, Politics and Economics
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In tracing the development of Austrian economics, we shall concentrate on six authors who have been most notable for their use and defense of the subjectivist approach, and on the themes running through their theoretical and methodological writings. These six are: Carl Menger, the founder of the school; Friedrich von Wieser and Eugen von Böhm-Bawerk, who developed and publicized Menger's ideas along somewhat separate lines; Ludwig von Mises, a student of Wieser and Böhm-Bawerk who made pathbreaking contributions to both theory and methodology; Friedrich A. Hayek, a student of Wieser and Mises whose well-known theoretical and interdisciplinary studies have earned him the Nobel Prize in economics; and Ludwig Lachmann, who studied with Hayek in the 1930s and has pursued subjectivist themes in the decades since.

Read this article at Mises.org.