The Austrian School and modern economics : essays in reassessment


    • Foss, Nicolai J.


The Austrian School and modern economics : essays in reassessment

Nicolai J. Foss

(Copenhagen studies in economics and management, 4)

Handelshøjskolens Forlag : Distributed by Munksgaard International Publishers, c1994

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Includes bibliographical references (p. [211]-229)



This text seeks to demonstrate that members of the Austrian School of Economics anticipated a number of themes that have only recently acquired prominence. Thus, the work of Mises and Hayek paved the way for modern neo-institutional and evolutionary economics. The book contains brief introductory and concluding essays and eight self-contained essays. The author covers themes such as: the Hayek-Keynes debate; the Austrians as precursers of evolutionary and neo-institutional economics; and modern Austrian economics. The text does not presume a detailed knowledge of Austrian economics.


  • The intertemporal co-ordination of economic activities - the economic debate between Hayek and Keynes, debate in perspective
  • Hayek and Lucas on equilibrium and knowledge
  • more on Hayek's transformation
  • the theory of the firm - the Austrians as precursers and critics of contemporary theory
  • precursor of property rights economics - Ludwig von Mises
  • dynamic theories of the market and neo-institutional economics
  • economics and socialism - the Austrians revisited
  • price theory - orthodox, Austrian, and evolutionary
  • heterodox tradition, pluralism and scientific progress - the case of the Austrian school and modern economics.

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