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Join date : 2011-03-04

PostSubject: Austrian School   Thu Dec 01, 2011 4:42 pm

The Austrian School of economics is a heterodox school of economic thought.[1][2] It advocates methodological individualism in interpreting economic developments (see praxeology), the theory that money is non-neutral, the theory that the capital structure of economies consists of heterogeneous goods that have multispecific uses which must be aligned (see Austrian business cycle theory), and emphasizes the organizing power of the price mechanism (see economic calculation debate).[3] Austrian economists are generally advocates of laissez faire policies.[4]

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