June 13, 2011

Relevance of the Austrian School of Economics in the 21st Century

Peter J. Boettke

Director, F. A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics

The Austrian School of Economics has prevailed through time given the relevance it has gained in understanding the way markets really work. Peter Boettke has a conversation with Luis Figueroa regarding the importance of the philosophy of economics and explains the value of its premises. They discuss the process of thinking and understanding life through an economics point of view, as a result of dynamic laws present in everyday situations. Finally, Boettke comments on the role of ethics in the Austrian School of Economics and portrays common misconceptions about these sciences.