Exploring the Austrian School of Economics

This chapter examines the Austrian School of Economics, focusing on its unique principles like methodological individualism and praxeology, while addressing criticisms from mainstream economic theories. It delves into the philosophical debates among Austrian economists regarding the validity of deductive reasoning and praxeological foundations. Furthermore, the chapter discusses the internal divisions within the school, particularly the contrasting views of minarchists and anarcho-capitalists on the role of the state in economic analysis.