IDEAS home Printed from https://ideas.repec.org/a/kap/atlecj/v42y2014i3p217-227.html
   My bibliography  Save this article

On Austrian Economics and the Economics of Carl Menger

Author

Listed:
  • Reinhard Neck

Abstract

This paper gives an overview of the work of Carl Menger, the founding father of the Austrian School of Economics. Menger’s theoretical and methodological positions are compared and contrasted with those of contemporary Austrian Economics. The idea of the unintended consequences of individual purposive actions is seen as a key to Menger’s economics. Although many elements of contemporary Austrian Economics can be found already in the work of Menger, we argue that there are some differences with respect to economic theorizing and economic policy recommendations. We propose to bring Austrian Economics closer to mainstream economics, especially with respect to the analytical tools to be used. Copyright International Atlantic Economic Society 2014

Suggested Citation

  • Reinhard Neck, 2014. "On Austrian Economics and the Economics of Carl Menger," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 42(3), pages 217-227, September.
    • Handle: RePEc:kap:atlecj:v:42:y:2014:i:3:p:217-227
    DOI: 10.1007/s11293-014-9422-6
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1007/s11293-014-9422-6
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1007/s11293-014-9422-6?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Leonid Hurwicz, 2008. "But Who Will Guard the Guardians?," American Economic Review, American Economic Association, vol. 98(3), pages 577-585, June.
    2. Greif,Avner, 2006. "Institutions and the Path to the Modern Economy," Cambridge Books, Cambridge University Press, number 9780521480444.
    3. Smith, Adam, 1776. "An Inquiry into the Nature and Causes of the Wealth of Nations," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number smith1776.
    4. Vaughn,Karen I., 1994. "Austrian Economics in America," Cambridge Books, Cambridge University Press, number 9780521445528.
    5. Hurwicz, Leonid, 1973. "The Design of Mechanisms for Resource Allocation," American Economic Review, American Economic Association, vol. 63(2), pages 1-30, May.
    6. Hansjoerg Klausinger, 2014. "Academic Anti-Semitism and the Austrian School: Vienna, 1918–1945," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 42(2), pages 191-204, June.
    7. Hansjörg Klausinger, 2006. ""In the Wilderness”: Emigration and the Decline of the Austrian School," History of Political Economy, Duke University Press, vol. 38(4), pages 617-664, Winter.
    8. Peter J. Boettke (ed.), 1994. "The Elgar Companion to Austrian Economics," Books, Edward Elgar Publishing, number 53.
    9. Acemoglu,Daron & Robinson,James A., 2009. "Economic Origins of Dictatorship and Democracy," Cambridge Books, Cambridge University Press, number 9780521671422.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Dieter Bögenhold, 2018. "Schumpeter’s Split Between “Pure” Economics and Institutional Economics: Why Methodological Individualism Was Not Fully Considered," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 24(3), pages 253-264, August.
    2. William J. Rieber, 2016. "Ludwig Von Mises’ Neoclassical Analysis of Dumping," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 44(4), pages 447-455, December.
    3. Reinhard Neck, 2021. "Methodological Individualism: Still a Useful Methodology for the Social Sciences?," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 49(4), pages 349-361, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Masahiko Aoki, 2013. "Institutions as cognitive media between strategic interactions and individual beliefs," Chapters, in: Comparative Institutional Analysis, chapter 17, pages 298-312, Edward Elgar Publishing.
    2. Cason, Timothy N. & Mui, Vai-Lam, 2015. "Rich communication, social motivations, and coordinated resistance against divide-and-conquer: A laboratory investigation," European Journal of Political Economy, Elsevier, vol. 37(C), pages 146-159.
    3. Fabian Wahl, 2014. "Origins of Political Change Ñ The Case of Late Medieval Guild Revolts," Working Papers 0069, European Historical Economics Society (EHES).
    4. Broadberry, Stephen & Ghosal, Sayantan & Proto, Eugenio, 2017. "Anonymity, efficiency wages and technological progress," Journal of Development Economics, Elsevier, vol. 127(C), pages 379-394.
    5. Boettke, Peter J. & Candela, Rosolino A., 2023. "On the feasibility of technosocialism," Journal of Economic Behavior & Organization, Elsevier, vol. 205(C), pages 44-54.
    6. Virgil Storr, 2010. "Schütz on meaning and culture," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 23(2), pages 147-163, June.
    7. Broadberry, Stephen & Ghosal, Sayantan & Proto, Eugenio, 2011. "Is Anonymity the Missing Link Between Commercial and Industrial Revolution?," The Warwick Economics Research Paper Series (TWERPS) 974, University of Warwick, Department of Economics.
    8. Vincenzo Galasso & Paola Profeta, 2018. "When the State Mirrors the Family: The Design of Pension Systems," Journal of the European Economic Association, European Economic Association, vol. 16(6), pages 1712-1763.
    9. Bruno Strulovici, 2020. "Can Society Function Without Ethical Agents? An Informational Perspective," Papers 2003.05441, arXiv.org.
    10. Auriol, Emmanuelle & Platteau, Jean-Philippe, 2017. "Religious co-option in autocracy: A theory inspired by history," Journal of Development Economics, Elsevier, vol. 127(C), pages 395-412.
    11. Baland, Jean-Marie & Moene, Karl Ove & Robinson, James A., 2010. "Governance and Development," Handbook of Development Economics, in: Dani Rodrik & Mark Rosenzweig (ed.), Handbook of Development Economics, edition 1, volume 5, chapter 0, pages 4597-4656, Elsevier.
    12. Platteau, Jean-Philippe, 2008. "Religion, politics, and development: Lessons from the lands of Islam," Journal of Economic Behavior & Organization, Elsevier, vol. 68(2), pages 329-351, November.
    13. Sonin, Konstantin & Acemoglu, Daron & Egorov, Georgy, 2020. "Institutional Change and Institutional Persistence," CEPR Discussion Papers 15295, C.E.P.R. Discussion Papers.
    14. Bernardo Guimaraes & Kevin D. Sheedy, 2017. "Guarding the Guardians," Economic Journal, Royal Economic Society, vol. 127(606), pages 2441-2477, November.
    15. Don Lavoie & Virgil Storr, 2011. "Distinction or dichotomy: Rethinking the line between thymology and praxeology," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 24(2), pages 213-233, June.
    16. ROUGIER Eric, 2015. ""The parts and the whole”: Unbundling and re-bundling institutional systems and their effect on economic development," Cahiers du GREThA (2007-2019) 2015-12, Groupe de Recherche en Economie Théorique et Appliquée (GREThA).
    17. Vincenzo Galasso & Paola Profeta, 2013. "From Family Culture to Welfare State Design," CHILD Working Papers Series 14, Centre for Household, Income, Labour and Demographic Economics (CHILD) - CCA.
    18. Alice Nicole Sindzingre, 2007. "Poverty traps: a perspective from development economics," Working Papers hal-04139210, HAL.
    19. Akos Lada, 2013. "Clash of Brothers in a Contagious World: Wars to Avoid Diffusion," CERS-IE WORKING PAPERS 1333, Institute of Economics, Centre for Economic and Regional Studies.
    20. Zakaria Babutsidze & Maurizio Iacopetta, 2021. "The Emergence of Money: Computational Approaches with Fully and Boundedly Rational Agents," Computational Economics, Springer;Society for Computational Economics, vol. 58(1), pages 3-26, June.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:atlecj:v:42:y:2014:i:3:p:217-227. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.