Austrian Economics, Neoclassicism, and the Market Test

Austrian Economics, Neoclassicism, and the Market Test

Professor Sherwin Rosen correctly suggests that the Austrian and neoclassical schools can be complementary, each accepting much from the other. However his recognition of Austrian strengths needs to be amplified and his criticisms need softening. His appeal to the market test risks encouraging anti-...

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Veröffentlicht in:The Journal of economic perspectives 1997-10, Vol.11 (4), p.153-165
1. Verfasser: Yeager, Leland B.
Format: Artikel
Sprache:eng
Schlagworte:
Austrian school
Competition
Demand curves
Economic competition
Economic systems
Economic theory
Economics
Free market economies
Macroeconomics
Market
Market economies
Mathematics
Neoclassical economics
Neoclassicism
Prestige
Schools
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Beschreibung
Zusammenfassung:Professor Sherwin Rosen correctly suggests that the Austrian and neoclassical schools can be complementary, each accepting much from the other. However his recognition of Austrian strengths needs to be amplified and his criticisms need softening. His appeal to the market test risks encouraging anti-intellectual attitudes and practices
ISSN:0895-3309
1944-7965
DOI:10.1257/jep.11.4.153