The Philosophy of Austrian Economics

Tags: Philosophy and Methodology

07/20/2005 Review of Austrian Economics Barry Smith

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This is a useful, clearly written study of the philosophical origins of Menger's theorizing in economics. As the author points out in his conclusion: philosophy has been an accompanying presence at every stage in the development of Austrian economics. Moreover, "Action, that leitmotif of praxeology, has in the Austrian tradition received a distinctly Aristotelian analysis. Austrian economics and a realistic philosophy seem made for each other."

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Barry Smith

Barry Smith is Professor of Philosophy at the State University of New York at Buffalo.

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