150 Years of the Austrian School

Econlib just published a brief reflective piece I wrote on the history of the Austrian school.

A few more notes…

Nicholas Cachanosky offers some reflections here.

Larry White shrinks history. Along the same lines, Carl Menger’s grandson is an emeritus professor of chemistry at Emory.

As for organizations, Nicolai Foss wrote in 1994: “More than one commentator has observed that a distinct theory of the firm is conspicuously missing from the main body of Austrian economics (e.g., Langlois 1991, p. 2; Minkler 1991, p. 8). As two Austrian economists observed some years ago: “there is no subjectivist or Austrian theory of the firm” (O’Driscoll and Rizzo 1985, p. 123). That is still the situation.

Foss himself and Klein have gone to great lengths to address this situation.

Here’s to another 150 years of the Austrian school.

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