Austrian Economics in America The Migration of a Tradition

by Karen Iversen Vaughn

Part of the Historical Perspectives on Modern Economics Series

Austrian Economics in America The Migration of a Tradition Synopsis

This 1994 book examines the development of the ideas of the new Austrian school from its beginnings in Vienna in the 1870s to the present. It focuses primarily in showing how the coherent theme that emerges from the thought of Carl Menger, Ludwig von Mises, Friedrich Hayek, Ludwig Lachman, Israel Kirzner and a variety of new younger Austrians is an examination of the implications of time and ignorance (or processes and knowledge) for economic theory.

Austrian Economics in America The Migration of a Tradition Press Reviews

Vaughn has written an outstanding work in the history of economic thought, the philosophy and sociology of science, and on those fundamental issues of economics in which every economist should be interested. Journal of Economic Literature Vaughn has written an outstanding work in the history of economic thought, the philosophy and sociology of science, and on those fundamental issues of economics in which every economist should be interested. Journal of Economic Literature Karen Vaughn has produced a lucid and compelling story of 25 years of Austrian economics in America...historians of thought and subjectivist economists will find the book stimulating and enlightening. Economic Affairs The lines of demarcation between Austrian and neoclassical economics are not always easy to discern, and the issues, whether methodological or procedural, are sometimes fuzzy. This book is an important step toward clarification. Vaughn does not rely upon mere folkways nor attempt to titillate through overemphasis upon dramatis personae. She concentrates on the discussion and clarification of issues, instead, so that Austrian economics emerges (appropriately) as an important body of doctrine, not the idiosyncratic brainchild of a small group of ideological outcasts. The book should be welcomed by the growing number of quasi-Austrians who are not 'hard-core' but who are sympathetic to the Austrian theoretic/methodological agenda. Robert F. Hebert, Auburn University In this book, Karen Vaughn deftly chronicles the American wing of post-1970 Austrian economics. Her selection of issues is intentionally designed to highlight the towering influence of Ludwig Lachmann, whose 'radical subjectivism' demanded that the revolution Ludwig van Mises had started be completed. Vaughn's approach--that of an insider who knew Lachmann and his critics--lends a special authenticity to the work. This is an important book that will amuse, infuriate, and perhaps persuade. Laurence S. Moss, Babson College The topics in this book are deep, the debates grand, the implications are limited only by the reader's own imagination. And--a rarity among economists--Vaughn writes with clarity and grace. This is a history of modern economics the way it should be written. I highly recommend it to anyone interested in contemporary Austrian economics and its innovative direction of research for the next century. David L. Prychitko, SUNY-Oswego, in Religion and Liberty

Book Information

ISBN: 9780521445528
Publication date: 27th May 1994
Author: Karen Iversen Vaughn
Publisher: Cambridge University Press
Format: Hardback
Pagination: 216 pages
Categories: Economic theory & philosophy,

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