The Revival Of Modern Austrian Economics

Download or read book The Revival of Modern Austrian Economics written by Allen Oakley and published by Edward Elgar Publishing. This book was released on 1999 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: Oakley (economics, U. of Newcastle, Australia) critically assesses the subjectivist metatheoretical origins of the revival of modern Austrian economics, and analyzes the contribution to subjectivist philosophy made by the founders of the neo-Austrian revival. He argues that while von Mises and von Hayek each confronted mainstream microeconomics with restricted subjectivist alternatives, Lachmann called for a more comprehensive range of subjectivist principles. He concludes that though all three made major contributions in the 1970s, the task of applying the tenets of a complete subjectivism awaits another generation of economists. Annotation copyrighted by Book News, Inc., Portland, OR