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Fall 2014

ISSN 0890-913X

Volume 29, Number 3

Categories: Fall 2014 | Economic Systems

Contemporary Work in Austrian Economics

Anthony J. Evans, ESCP Europe Business School

Vlad Tarko, George Mason University and the Mercatus Center

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TheJournalofPrivateEnterprise29(3),2014,135–157ContemporaryWorkinAustrianEconomicsAnthonyJ.EvansESCPEuropeBusinessSchoolVladTarkoGeorgeMasonUniversityandtheMercatusCenter______________________________________________________AbstractThisarticleprovidesabriefsurveyofcontemporarydevelopmentsintheAustrianSchoolofeconomics,signallingthat(1)theamountofAustrianresearchandthenumberofAustrianresearchersaregrowingexponentially;(2)goodAustrianeconomistsarenotbeingmarginalizedbytheeconomicsprofession;and(3)therehavebeensignificantadvancesrecentlyinourunderstandingofeconomics.ScholarscanembracethesecondrevivalofAustrianeconomicsandlookconfidentlyattheincreasingacademiccredibilityoftheschool.______________________________________________________JELCodes:B53Keywords:Austrianeconomics,Entrepreneurship,Capitaltheory,Monetarytheory,AnarchyI.IntroductionAtthetimeofthefirstAustrian“revival,”promptedbyHayekwinningtheNobelPrizeandthedeathofMises,youcouldprobablyfitallAustrian-schooleconomistsintooneroom.TheintellectualclimateofthetimesawadominanceofKeynesianeconomicsandtheperceivedtriumphofstateplanning,withlittlescopeforthemethodology,subjectmatter,orpolicyconclusionsoftheAustrianSchool.Therevivalstartedwithaseriesofconferencesheldinthemid-1970sthatdefinedandmobilizedtheAustrianSchool(see,forinstance,Dolan1976),anditmaturedinthe1980swiththepublicationofseveralworksthatpushedtheschoolfurther(White1984;Lavoie1985;O’DriscollandRizzo1985).ThecreationoftheCenterfortheStudyofMarketProcesses(nowtheMercatusCenter)atGeorgeMasonUniversity(GMU)andtheLudwigvonMisesInstitutealsoaidedthefirstrevival.Thesecond“revival”canbetracedtotheearly1990sandthefallofcommunism,whichbroughttheAustrianSchooltotheattention135

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Title	Contemporary Work in Austrian Economics
Authors/Creators:	Anthony J. Evans, ESCP Europe Business School Vlad Tarko, George Mason University and the Mercatus Center
Year:	2014
Volume:	29
Number:	3
Pages:	135 - 157
Publisher:	The Association of Private Enterprise Education
ISSN:	0890-913X
Document Type:	Articles
Keywords:	Austrian economics, Entrepreneurship, Capital theory, Monetary theory, Anarchy

Citation:
Evans, Anthony J.; Tarko, Vlad / 2014. "Contemporary Work in Austrian Economics ." The Journal of Private Enterprise, 29(3): 135-157.