Menger and Contemporary Austrian Economics: Knowledge, Institutions and Liberalism
20 Pages Posted: 29 Jun 2022 Last revised: 4 Jul 2022
Date Written: June 29, 2022
Abstract
Carl Menger published his classic work Principles of Economics in 1871, that work is the founding text of what came known as the “Austrian School of Economics”. That label has now been used to describe a historical school of thought, as well as contemporary academic economists and public intellectuals in the policy space to this day 150 years later. This paper discuss Mengerian methodology for studying the human sciences, Mengerian process theory, the connection to Adam Smith's liberal plan for liberty, equality, and justice, and will discuss a vision of political economy influenced by the unfinished revolution of Menger and the Austrian School.
Keywords: Austrian Economics, Menger, Mises, Hayek
JEL Classification: B25, B53, B40
Suggested Citation: Suggested Citation