Thursday, August 22, 2013

Austrian School

"The great practical advantage of the Austrian School is that it is a form of economic analysis that is founded in realism and helps us understand both progress and problems in the real world. Therefore, it is a useful tool for people in the real world, but is of little use, and indeed is a threat, to mainstream academic economists" (Hulsmann and Kinsella, eds., "Property, Freedom and Society", 2009, p.358).