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The Philosophy of the Austrian School of Economics

Richard M. Salsman

Presented at: IRM 1994

Date: Jul 16, 1994

The Austrian school of economics has offered that discipline's most comprehensive modern case for free markets. But to what extent is it compatible with Objectivism? This course explains the Austrian school's philosophy, including its epistemology, and how it influences Austrian economic doctrines. Topics include: the impact of German philosophy· "methodological individualism"; "praxeology"; subjective value theory; the is-ought dichotomy; and the state's role in economics. Discussion is focused on the leading Austrian proponents: Carl Menger, Ludwig von Mises, and Friedrich Hayek. 


Parts: 4

Handout: none


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