The domain of Austrian economics

David Colander

A chapter in What is so Austrian about Austrian Economics?, 2010, pp 29-41 from Emerald Group Publishing Limited

Abstract: Modern mainstream economics is a plurocracy in which there is no orthodoxy of ideas, only an orthodoxy of method. Given the training it provides its students, mainstream economics' natural domain is science. With the mainstream's acceptance of complexity views of the economy, Austrian economist's views can now get a hearing within the mainstream. Thus, within the science of economics, there is no need for a separate Austrian economics. However, there is a need for Austrian economics in political economy, the branch of economics that takes the insights of science and relates them to policy. The paper urges Austrian economics to embrace political economy as its domain and to position its work within political economy.

Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:eme:aaeczz:s1529-2134(2010)0000014005

DOI: 10.1108/S1529-2134(2010)0000014005

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