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The Austrian school owes its name to members of the German historical school of economics, who argued against the Austrians during the late 19th-century Methodenstreit ("methodology struggle"), in which the Austrians defended the role of theory in economics as distinct from the study or compilation of historical circumstance.
Ludwig Heinrich Edler von Mises [ n 1] ( German: [ˈluːtvɪç fɔn ˈmiːzəs]; 29 September 1881 – 10 October 1973) was an Austrian–American historian, logician, sociologist, and economist of the Austrian School. Mises wrote and lectured extensively on the societal contributions of classical liberalism and the power of consumers. [ 1]
Carl Menger von Wolfensgrün [2] ( / ˈmɛŋɡər /; German: [ˈmɛŋɐ]; 28 February 1840 [3] – 26 February 1921) was an Austrian economist and the founder of the Austrian School of economics. Menger contributed to the development of the theories of marginalism and marginal utility, [4] which rejected cost-of-production theory of value, such ...
Notes. Carl Menger. 1840. 1921. Austrian. Jagiellonian University. Founder of the Austrian School of economics, famous for contributing to the development of the theory of marginal utility, which contested the cost-of-production theories of value, developed by the classical economists such as Adam Smith and David Ricardo . Eugen von Böhm-Bawerk.
The Ludwig von Mises Institute for Austrian Economics, or Mises Institute, is a nonprofit think tank headquartered in Auburn, Alabama, that is a center for Austrian economics, radical right-wing libertarian thought and the paleolibertarian and anarcho-capitalist movements in the United States.
Joseph Alois Schumpeter ( German: [ˈʃʊmpeːtɐ]; February 8, 1883 – January 8, 1950) [3] was an Austrian political economist. He served briefly as Finance Minister of Austria in 1919.
Eugen Ritter von Böhm-Bawerk (German: [bøːm ˈbaːvɛʁk]; born Eugen Böhm, 12 February 1851 – 27 August 1914) was an economist from Austria-Hungary who made important contributions to the development of macroeconomics and to the Austrian School of Economics. He served intermittently as the Austrian Minister of Finance between 1895 and 1904.
Economy of Austria. All values, unless otherwise stated, are in US dollars. The economy of Austria is a highly developed social market economy, with the country being one of the fourteen richest in the world in terms of GDP ( gross domestic product) per capita. [19] Until the 1980s, many of Austria 's largest industry firms were nationalised.