Understanding "Austrian" economics

From: Ideas on Liberty | Date: October 1, 2003| Author: Hazlitt, Henry | Copyright information

"Austrian" economics owes its name to the historic fact that it was founded and first elaborated by three Austrians-Carl Menger (1840-1921), Friedrich von Wieser (1851-1926), and Eugen von Bohm-Bawerk (1851-1914). The latter two built upon Menger, though Bohm-Bawerk, in particular, made important additional contributions.

Menger's great work, translated into English (but not until seventy-nine years later!) under the title of Principles of Economics, was published in 1871. * In the sam...

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