Legacy of Carl Menger and the Austrian School of Economics

University:
Swansea University
Course:
FIN520 | Financial Ethics and Accountability
Academic year:

2024
Views:

281

Pages:

2
Author:

Caroline H.

LEGACY OF CARL MENGER AND THE AUSTRIAN SCHOOL OF ECONOMICS 1. Introduction  Celebrating the 150th anniversary of Carl Menger's "Principles of Economics"  Menger's enduring influence on economics 2. Menger's Creative Genius  Schumpeter's recognition of Menger's originality  Mises and Hayek's assessments of Menger's contributions 3. Menger's Diverse Background  Menger's academic and professional journey  The influence of law and governance on his economic thinking 4. Key Themes in Menger's Work  Menger's focus on choice under uncertainty  Examination of knowledge, error, time, investment, consumption, and production  The role of institutions, including property, contract, money, and finance 5. Austrian School's Evolution  The dispersion of Austrian economists during and after WWII  The migration of prominent Austrian economists to the UK and the US 6. Austrian School's Impact in the UK and the US  The establishment of Austrian economics within prestigious universities  Mises and Hayek's efforts to promote Austrian economic principles 7. Common Knowledge of Good Neoclassical Economics  The analytical developments of Austrian economics  The subjectivism of value, cost, expectations, and knowledge 8. Transition from "Austrian" to Mainstream Economics  The absorption of Austrian economic insights into mainstream economics  The diminishing emphasis on the "Austrian" label 9. Losses and Transformations  Challenges and changes during the intellectual migration of Austrian economists  The divergence of economic science in the mid-20th century 10.A Conundrum in the History of Austrian Economics  The paradox of scientific innovation and declining professional reputation  The impact of Mises and Hayek's major works in the late 1940s