Best of the Podcast! — Israel Kirzner on the Revival of Austrian Economics
Hayek Program Podcast
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The Unfashionability of the Austrian School
Mises' insistence on the purely logical, a priori character of economic theory was seen as thoroughly out of step with a twentieth century philosophy of science rooted in the empirical. To identify oneself as an Austrian was almost a place oneself outside the perimeter of modern civilized social discourse. The resurgence of interest in the school can be seen as an intriguing, mystifying history of thought puzzle. What was responsible for this mysterious resurrection of an intellectual tradition, long thought to be completely dead? I'll try and explore the possibility of dispelling this mystery by reference to the important 1970 award of the Nobel Prize in Economics to Friedrich Hayek.
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