The Austrian School of Economics

The Austrian School of Economics emerged after the publication in 1871 of a trilogy of works (by Jevons, Walras, and Menger) which introduced the idea of the subjective theory of value and began what has been called “the marginal revolution” in economic thought. Leading theorists in the 20th century were Ludwig von Mises, Friedrich Hayek, Murray Rothbard, and Israel Kirzner.

For more information see:

• Norman Barry, “The Tradition of Spontaneous Order”, in Literature of Liberty, vol. V, no. 2, Summer 1982.
• John Gray, “F.A. Hayek and the Rebirth of Classical Liberalism”, in Literature of Liberty, vol. V, no. 4, Winter 1982
• Deborah L. Walker, “Austrian Economics”, in the Concise Encyclopedia of Economics at Econlib.

• Ludwig M. Lachmann
• Frank A. Fetter
• Gerald P. O’Driscoll
• Lawrence S. Moss
• Friedrich August von Hayek
• Murray N. Rothbard
• Louis M. Spadaro
• Eugen von Böhm-Bawerk
• Richard Cantillon
• Ludwig von Mises
• Israel M. Kirzner
• Bettina Bien Greaves
• William Stanley Jevons
• Carl Menger
• Norman P. Barry
• Pamela J. Brown
• Karen I. Vaughn
• Vera C. Smith
• Philip H. Wicksteed
• Leland B. Yeager
• Friedrich von Wieser
• Giovanni Montemartini
• Mountifort Longfield
• George A. Selgin