Austrian Economics as a Progressive Paradigm: Explaining More Complex Economic Phenomena

Austrian Economics as a Progressive Paradigm: Explaining More Complex Economic Phenomena This article examines two major issues of Austrian economics. The first is the alleged superiority of Austrian over neoclassical economics. The second is the capacity of Austrian economics to support new theoretical research. The analysis shows that Austrian economics has the widest domain of validity for explaining economic phenomena. It is also shown that Austrian economics has a progressive theoretical character due to the fact that there exist a number of analytical phenomena that Austrian economics cannot explain in its present state but that may be explained by means of a “leap with continuity” from Austrian anthropological presuppositions. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Review of Austrian Economics Springer Journals

Austrian Economics as a Progressive Paradigm: Explaining More Complex Economic Phenomena

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Publisher
Kluwer Academic Publishers
Copyright
Copyright © 2002 by Kluwer Academic Publishers
Subject
Economics; Public Finance; Political Science; History of Economic Thought/Methodology
ISSN
0889-3047
eISSN
1573-7128
D.O.I.
10.1023/A:1021166420973
Publisher site
See Article on Publisher Site

Abstract

This article examines two major issues of Austrian economics. The first is the alleged superiority of Austrian over neoclassical economics. The second is the capacity of Austrian economics to support new theoretical research. The analysis shows that Austrian economics has the widest domain of validity for explaining economic phenomena. It is also shown that Austrian economics has a progressive theoretical character due to the fact that there exist a number of analytical phenomena that Austrian economics cannot explain in its present state but that may be explained by means of a “leap with continuity” from Austrian anthropological presuppositions.

Journal

The Review of Austrian EconomicsSpringer Journals

Published: Oct 18, 2004

References

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