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The Review of Austrian Economics

, Volume 15, Issue 4, pp 335–357 | Cite as

Austrian Economics as a Progressive Paradigm: Explaining More Complex Economic Phenomena

  • Ángel Rodríguez García-Brazales
Article

Abstract

This article examines two major issues of Austrian economics. The first is the alleged superiority of Austrian over neoclassical economics. The second is the capacity of Austrian economics to support new theoretical research. The analysis shows that Austrian economics has the widest domain of validity for explaining economic phenomena. It is also shown that Austrian economics has a progressive theoretical character due to the fact that there exist a number of analytical phenomena that Austrian economics cannot explain in its present state but that may be explained by means of a “leap with continuity” from Austrian anthropological presuppositions.

Austrian economics infeasible action plans non-monetized ends and means 

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Copyright information

© Kluwer Academic Publishers 2002

Authors and Affiliations

  • Ángel Rodríguez García-Brazales
    • 1
  1. 1.Departamento de Análisis EconómicoUniversidad Autónoma de MadridSpain

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