Austrian School

Discipline: Economics

The Austrian School, also known as the 'Vienna School,' or the 'Psychological School', is a heterodox school of economics initiated in the late 19th and the early 20th century. The Austrian School holds that the valid economic theories should be based on human action, and supports individualist policy recommendations, such as small government, and the protection of private property.

The prominent economists in the Austrian School include Carl Menger, Eugen von Böhm-Bawerk, Friedrich von Wieser, Ludwig von Mises, Friedrich Hayek, and Gottfried von Haberler.

Also see: cambridge school

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