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ABC – Austria, Bloomington, Chicago: Political Economy the Ostrom Way

Hartmut Kliemt

A chapter in The Austrian and Bloomington Schools of Political Economy, 2017, vol. 22, pp 15-47 from Emerald Publishing Ltd

Abstract: Abstract Bloomington scholars are critical of the rather wide-spread “Model Platonism” of both Austrian and Chicago economists. Their empirical, B, perspective avoids the more extreme views of both Austrian “mindful economics,” A, and Chicago “mindless economics,” C. Yet the B is not a mere convex combination of A and C. It is rather a psychologically grounded empirical evidence-oriented approach that keeps clear of the non-empirical spirit of von Mises’ and Selten’s methodological dualism on one hand and the instrumentalist and behaviorist spirit of much of neo-classical economics on the other hand.

Keywords: Internalist and externalist explanations of human action; theory absorption; behaviorism; cognitive psychology; mathematical praxeology; game theory (search for similar items in EconPapers)
Date: 2017
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