Economics at your fingertips  

Austrian Economics is Still Not Institutional Enough

Geoffrey M. Hodgson

A chapter in Assessing Austrian Economics, 2019, vol. 24, pp 101-110 from Emerald Publishing Ltd

Abstract: Abstract In his article on “What Is Still Wrong with Austrian economics?,” Peter Boettke considers matters of strategy for the Austrian school and stresses the importance of institutions and institutional analysis. This comment takes up both themes. Two possible strategies for institutional research are considered. Then the place and role of institutions in Austrian analysis are addressed. It is argued that Austrian thinking has been caught in a dilemma between making theory as general as possible, or of taking on board the historically specific character of key institutions in market economies. The different approaches of Ludwig Mises and Carl Menger to this quandary are compared, with attention to the central concepts of property and capital.

Keywords: Austrian economics; institutions; capital; historical specificity; Ludwig Mises; Carl Menger (search for similar items in EconPapers)
Date: 2019
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link) ... RePEc&WT.mc_id=RePEc (text/html)
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Ordering information: This item can be ordered from
Emerald Group Publishing, Howard House, Wagon Lane, Bingley, BD16 1WA, UK
http://www.emeraldgr ... ies.htm?id=1529-2134

Access Statistics for this chapter

More chapters in Advances in Austrian Economics from Emerald Publishing Ltd
Bibliographic data for series maintained by Charlotte Maiorana ().

Page updated 2019-10-15
Handle: RePEc:eme:aaeczz:s1529-213420190000024010