The Nature of the Market in Mises and Weber

Solomon Stein and Virgil Storr ()

A chapter in Research in the History of Economic Thought and Methodology, 2016, vol. 34A, pp 73-91 from Emerald Group Publishing Limited

Abstract: Max Weber and the Austrian School of Economics share many of the same intellectual influences as well as a similar commitment to a social science characterized by methodological individualism, methodological subjectivism, and value-freedom. Although many of the links between Weber and the Austrian school have been explored, one area of agreement between Weber and Mises that is yet to be explored is their shared understanding of the nature of the market. This chapter attempts to close this gap by examining the pictures of the market in Weber’sEconomy and Societyand Mises’Human Action. We find that both portrayals share important features. These include similarities regarding (i) the nature of the market; (ii) the market’s autonomous logic; (iii) the impersonality of the market; and (iv) the market in society.

Keywords: The market; society; Ludwig von Mises; Max Weber; Austrian economics (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:eme:rhetzz:s0743-41542016000034a014

DOI: 10.1108/S0743-41542016000034A014

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