Economics as a life-science: The enduring significance of Carl Menger’s individualist-evolutionary research program

Viktor J. Vanberg ()
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Viktor J. Vanberg: Walter Eucken Institut

The Review of Austrian Economics, 2023, vol. 36, issue 2, No 2, 145-162

Abstract: Abstract Historians of economic thought commonly emphasize three aspects of Carl Menger’s work: his quarrel with the German Historical School, the contrast between his theoretical outlook and that of his co-marginalists, Léon Walras and William Stanley Jevons, and his role in pioneering an evolutionary economics. The paper argues that these aspects of Menger’s work have their common root in his understanding of economics as – in modern language – a life science.

Keywords: Life-science; Historical School; Marginalist revolution; Evolutionism; Subjectivism (search for similar items in EconPapers)
JEL-codes: B10 B15 B25 B41 B53 (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/s11138-022-00604-w

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