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“What is so Austrian about Austrian Economics?”

  • David Colander

    ()

Modern mainstream economics is a plurocracy in which there is no orthodoxy of ideas, only an orthodoxy of method. Given the training it provides its students, mainstream economic’s natural domain is science. With the mainstream’s acceptance of complexity views of the economy, Austrian economist’s views can now get a hearing within the mainstream. Thus, within the science of economics, there is no need for a separate Austrian economics. However, there is a need for Austrian economics in political economy, that branch of economics that takes the insights of science and relates them to policy. The paper urges Austrian economics to embrace political economy as its domain, and to position its work as within political economy.

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File URL: http://www.middlebury.edu/services/econ/repec/mdl/ancoec/0910.pdf
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Paper provided by Middlebury College, Department of Economics in its series Middlebury College Working Paper Series with number 0910.

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Length: 12 pages
Date of creation: Aug 2009
Date of revision:
Handle: RePEc:mdl:mdlpap:0910
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  1. K. Vela Velupillai, 2012. "Taming The Incomputable, Reconstructing The Nonconstructive And Deciding The Undecidable In Mathematical Economics," New Mathematics and Natural Computation (NMNC), World Scientific Publishing Co. Pte. Ltd., vol. 8(01), pages 5-51.
  2. David Colander, 2007. "What Was “It” that Robbins Was Defining?," Middlebury College Working Paper Series 0706, Middlebury College, Department of Economics.
  3. David Colander, 2009. "How Did Macro Theory Get So Far off Track, and what Can Heterodox Macroeconomists Do to Get it Back On Track?," Middlebury College Working Paper Series 0911, Middlebury College, Department of Economics.
  4. David Colander, 2003. "The Aging of an Economist," Middlebury College Working Paper Series 0304, Middlebury College, Department of Economics.
  5. David Colander, 2002. "The Death of Neoclassical Economics," Middlebury College Working Paper Series 0237, Middlebury College, Department of Economics.
  6. V. V. Chari & Patrick J. Kehoe, 2006. "Modern Macroeconomics in Practice: How Theory Is Shaping Policy," Journal of Economic Perspectives, American Economic Association, vol. 20(4), pages 3-28, Fall.
  7. R. Koppl, 2006. "Austrian economics at the cutting edge," The Review of Austrian Economics, Springer, vol. 19(4), pages 231-241, December.
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