Austrian Economics, Neoclassicism, and the Market Test

Leland B Yeager

Journal of Economic Perspectives, 1997, vol. 11, issue 4, pages 153-65

Abstract: 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, Copyright 1997 by American Economic Association.

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