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In Search Of Empirical Content – The Austrian Way To Go Beyond Pure Theory

  • Tereza Šímová

    ()

    (University of Economics, Prague)

  • Josef Šíma

    ()

    (CEVRO Institute [school of legal and social studies])

Registered author(s):

    The Austrian School has always represented a leading approach in social sciences emphasizing the power of logical deduction and key importance of pure theory. The lack of empirical content, however, often prevented the acknowledgement of correct theoretical and policy conclusions by fellow economists. This paper introduces the concept of analytical narrative and argues that this approach developed by Peter Boettke and his followers from the Virginia branch of the Austrian School can enrich the pure theory by empirical content without compromising the power of the Austria explanation.

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    File URL: http://www.rebe.rau.ro/RePEc/rau/journl/SP12/REBE-SP12-A6.pdf
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    Article provided by Romanian-American University in its journal Romanian Economic and Business Review.

    Volume (Year): 7 (2012)
    Issue (Month): 1 (March)
    Pages: 50-59

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    Handle: RePEc:rau:journl:v:7:y:2012:i:1:p:50-59
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    1. Robert H. Bates & Avner Greif & Margaret Levi & Jean-Laurent Rosenthal, 1998. "Analytic Narratives," Economics Books, Princeton University Press, edition 1, volume 1, number 6355.
    2. Peter T. Leeson, 2007. "Trading with Bandits," Journal of Law and Economics, University of Chicago Press, vol. 50, pages 303-321.
    3. Coase, R. H., 1990. "The Firm, the Market, and the Law," University of Chicago Press Economics Books, University of Chicago Press, edition 1, number 9780226111018.
    4. Scott A. Beaulier & J. Robert Subrick, 2007. "Limited Government and Economic Growth in Botswana," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 23(Fall 2007), pages 52-66.
    5. Peter T. Leeson, 2010. "The Political Economy of Peter Boettke," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 26(Fall 2010), pages 47-55.
    6. Stringham, Edward & Boettke, Peter & Clark, J.R., 2008. "Are regulations the answer for emerging stock markets? Evidence from the Czech Republic and Poland," The Quarterly Review of Economics and Finance, Elsevier, vol. 48(3), pages 541-566, August.
    7. Peter T. Leeson, 2006. "Self-Enforcing Arrangements and Heterogeneous Groups," American Journal of Economics and Sociology, Wiley Blackwell, vol. 65(4), pages 891-907, October.
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