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Austrian economics is known for extensive—and many economists would say excessive—ruminations on methodology. Attempting to steer a middle course between radical forms of historicism (there are no economic laws) and scientism (economic laws are as precise as physical laws), this approach often appears to diminish the importance of empirical testing and quantitative methods more generally. Since the Austrian revival of the 1970’s, social scientists have developed a number of new theoretical and empirical approaches to studying the social world. Experimental and behavioral economics have...

Philosophy, Politics, and Economics (PPE), as an interdisciplinary endeavour, has surged in popularity in recent years. Work in this field usually draws on standard microeconomics to grapple with questions from political philosophy. But what might Austrian economics, which offers an alternative approach to economic theory, have to offer to this endeavour?  Featuring contributions by economists, philosophers, political scientists, and political theorists both friendly to and critical of Austrian ideas, this collection explores what, if anything, Austrian assumptions about human nature and...

The modern school of Austrian economics took shape in the 1970s, and reflects the social science questions of its time. Is it still relevant today, considering that the theories that drive contemporary social science have evolved dramatically over the past few decades? While Austrian concerns such as property rights and imperfect cognition have become more common, other aspects of the Austrian thought are even more idiosyncratic than ever.  In the ten chapters included here, leading economists explore whether Austrian economics still has unique insights to offer the world of today....

This book brings together emerging and established scholars to explore the insights that can be gleaned from applying Austrian economics to a range of different topics and a variety of related disciplines, from history to politics to public policy.