This is a list of notable economists aligned with the Austrian School who are sometimes colloquially called "the Austrians". This designation applies even though few hold Austrian citizenship; moreover, not all economists from Austria subscribe to the ideas of the Austrian School.
Image | Name | Year of birth | Year of death | Nationality | Alma mater (postgraduate) | Notes |
---|---|---|---|---|---|---|
Carl Menger | 1840 | 1921 | Austrian | Jagiellonian University | Founder of the Austrian School of economics, famous for contributing to the development of the theory of marginal utility, which contested the cost-of-production theories of value, developed by the classical economists such as Adam Smith and David Ricardo. | |
Eugen von Böhm-Bawerk | 1851 | 1914 | Austro-Hungarian | University of Heidelberg University of Leipzig University of Jena | Wrote the three volume magnum-opus Capital and Interest . | |
Friedrich von Wieser | 1851 | 1926 | Austro-Hungarian | University of Vienna | Wieser held posts at the universities of Vienna and Prague until succeeding Menger in Vienna in 1903, where, with brother-in-law Eugen von Böhm-Bawerk, he shaped the next generation of Austrian economists including Ludwig von Mises, Friedrich Hayek and Joseph Schumpeter in the late 1890s and early 20th century. | |
Frank Fetter | 1863 | 1949 | American | University of Halle | Fetter's treatise, The Principles of Economics, contributed to an increased American interest in the Austrian School, including the theories of Eugen von Böhm-Bawerk, Friedrich von Wieser, Ludwig von Mises, and Friedrich Hayek. | |
Ludwig von Mises | 1881 | 1973 | Austrian | University of Vienna | He published his magnum opus Human Action in 1949. Mises had a significant influence on the Libertarian movement that developed in the United States in the mid-20th century. | |
Benjamin Anderson | 1886 | 1949 | American | Columbia University | According to Mises, Anderson was "one of the outstanding characters in this age of the supremacy of time-servers." [1] | |
Henry Hazlitt | 1894 | 1993 | American | American economist, philosopher, literary critic, and journalist for such publications as The Wall Street Journal , The Nation , The American Mercury , Newsweek , and The New York Times , and he has been recognized as a leading interpreter of economic issues from the perspective of American conservatism and libertarianism. [2] | ||
Frederick Nymeyer | 1897 | 1981 | American | |||
Friedrich Hayek | 1899 | 1992 | Austrian | University of Vienna | In 1974, Hayek shared the Nobel Memorial Prize in Economic Sciences for his "pioneering work in the theory of money and economic fluctuations and... penetrating analysis of the interdependence of economic, social and institutional phenomena." [3] | |
William Harold Hutt | 1899 | 1988 | British | |||
Gottfried von Haberler | 1900 | 1995 | Austrian | |||
Fritz Machlup | 1902 | 1983 | Austro-Hungarian | University of Vienna | ||
Paul Rosenstein-Rodan | 1902 | 1985 | Polish | |||
Ludwig Lachmann | 1906 | 1990 | German | University of Berlin | Lachmann's ideas continue to influence contemporary social science research. Many social scientific disciplines explicitly or implicitly build on "radical subjectivist" Austrian economics. | |
Kurt Richebächer | 1918 | 2007 | German | |||
Hans Sennholz | 1922 | 2007 | German-American | New York University University of Cologne | ||
Murray Rothbard | 1926 | 1995 | American | Columbia University | American author and economist of the Austrian School who helped define capitalist libertarianism and popularized a form of free-market anarchism he termed "anarcho-capitalism." [4] [5] [6] Rothbard wrote over twenty books and is considered a centrally important figure in the American libertarian movement. [7] | |
Israel Kirzner | 1930 | Living | American | New York University | Kirzner's major work is in the economics of knowledge and entrepreneurship and the ethics of markets. | |
Ernest C. Pasour | 1932 | Living | American | Michigan State University | ||
Ralph Raico | 1936 | 2016 | American | University of Chicago | ||
George Reisman | 1937 | Living | American | New York University | ||
Pascal Salin | 1939 | Living | French | Paris Dauphine University | ||
Henri Lepage | 1941 | Living | French | |||
Walter Block | 1941 | Living | American | Columbia University | ||
Robert Higgs | 1944 | Living | American | Johns Hopkins University | ||
Roger Garrison | 1944 | Living | American | University of Virginia | ||
Mark Skousen | 1947 | Living | American | George Washington University | ||
David Gordon | 1948 | Living | American | UCLA | ||
Hans-Hermann Hoppe | 1949 | Living | German | Goethe University Frankfurt | ||
Joseph Salerno | 1950 | Living | American | Rutgers University | ||
Randall G. Holcombe | 1950 | Living | American | Florida State University | ||
Richard Ebeling | 1950 | Living | American | Middlesex University | ||
Don Lavoie | 1951 | 2001 | American | New York University | ||
Lawrence Reed | 1953 | Living | American | Slippery Rock University of Pennsylvania | ||
Lawrence H. White | 1954 | Living | American | UCLA | ||
Russell Roberts | 1954 | Living | American | University of Chicago | ||
Jesús Huerta de Soto | 1956 | Living | Spanish | Complutense University of Madrid | ||
Donald J. Boudreaux | 1958 | Living | American | Auburn University | ||
Mark Thornton | 1960 | Living | American | Auburn University | ||
Peter Boettke | 1960 | Living | American | George Mason University | ||
David Prychitko | 1962 | Living | American | George Mason University | ||
Peter Schiff | 1963 | Living | American | University of California, Berkeley | Host of the Peter Schiff Show, and is credited for "more or less accurately" predicting the financial crisis of 2007–2010 while the "easiest criticism of macroeconomists is that nearly all failed to foresee the recession despite plenty of warning signs." | |
Steven Horwitz | 1964 | 2021 | American | George Mason University | ||
Peter G. Klein | 1966 | Living | American | University of California, Berkeley | ||
Jörg Guido Hülsmann | 1966 | Living | German | Technical University of Berlin | ||
Javier Milei | 1970 | Living | Argentinian | Belgrano University | He became widely known for his regular TV appearances where he has been critical of Cristina Fernández de Kirchner, Mauricio Macri and Alberto Fernández administrations. He became a Federal Deputy in 2021 and was elected as President of Argentina in 2023, running on the La Libertad Avanza ticket and beating Peronist economy minister Sergio Massa in a landslide, thereby becoming the first ever Libertarian head of state, anywhere in the world | |
Mark Spitznagel | 1971 | Living | American | New York University | ||
Robert P. Murphy | 1976 | Living | American | New York University | ||
Christopher Coyne | 1977 | Living | American | George Mason University | ||
Peter Leeson | 1979 | Living | American | George Mason University |
Anarcho-capitalism is an anti-statist, libertarian political philosophy and economic theory that seeks to abolish centralized states in favor of stateless societies with systems of private property enforced by private agencies, the non-aggression principle, free markets and self-ownership, which extends the concept to include control of private property as part of the self. In the absence of statute, anarcho-capitalists hold that society tends to contractually self-regulate and civilize through participation in the free market, which they describe as a voluntary society involving the voluntary exchange of goods and services. In a theoretical anarcho-capitalist society, the system of private property would still exist and be enforced by private defense agencies and/or insurance companies selected by customers, which would operate competitively in a market and fulfill the roles of courts and the police.
The Austrian School is a heterodox school of economic thought that advocates strict adherence to methodological individualism, the concept that social phenomena result primarily from the motivations and actions of individuals and their self interest. Austrian school theorists hold that economic theory should be exclusively derived from basic principles of human action.
Murray Newton Rothbard was an American economist of the Austrian School, economic historian, political theorist, and activist. Rothbard was a central figure in the 20th-century American libertarian movement, particularly its right-wing strands, and was a founder and leading theoretician of anarcho-capitalism. He wrote over twenty books on political theory, history, economics, and other subjects.
Hans-Hermann Hoppe is a German-American academic associated with Austrian School economics, anarcho-capitalism, right-wing libertarianism, and opposition to democracy. He is professor emeritus of economics at the University of Nevada, Las Vegas (UNLV), senior fellow of the Mises Institute think tank, and the founder and president of the Property and Freedom Society.
The Ludwig von Mises Institute for Austrian Economics, or Mises Institute, is a nonprofit think tank headquartered in Auburn, Alabama, that is a center for radical libertarian thought and the right-wing paleolibertarian and anarcho-capitalist movements in the United States. It is named after the economist Ludwig von Mises (1881–1973) and promotes heterodox Misesian Austrian economics.
Llewellyn Harrison Rockwell Jr. is an American author, editor, and political consultant. A libertarian and a self-professed anarcho-capitalist, he founded and is the chairman of the Mises Institute, a non-profit promoting the Austrian School of economics.
In philosophy, praxeology or praxiology is the theory of human action, based on the notion that humans engage in purposeful behavior, contrary to reflexive behavior and other unintentional behavior.
Paleolibertarianism is a libertarian political activism strategy aimed at uniting libertarians and paleoconservatives. It was developed by American anarcho-capitalist theorists Murray Rothbard and Lew Rockwell in the American political context after the end of the Cold War. From 1989 to 1995, they sought to communicate libertarian notions of opposition to government intervention using messages accessible to working and middle-class people of the time, and combining libertarian free market views with the cultural conservatism of Paleoconservatism, while also opposing protectionism. The strategy also embraced the paleoconservative reverence for tradition and religion. This approach, usually identified as right-wing populism, was intended to radicalize citizens against the state. The name they chose for this style of activism evoked the roots of modern libertarianism, hence the prefix paleo. That founding movement was American classical liberalism, which shared the anti-war and anti-New Deal sentiments of the Old Right in the first half of the 20th century. Paleolibertarianism is generally seen as a right-wing ideology.
Mark Thornton is an American economist of the Austrian School. He has written on the topic of prohibition of drugs, the economics of the American Civil War, and the "Skyscraper Index". He is a Senior Fellow with the Ludwig von Mises Institute in Alabama and a Research Fellow with the Independent Institute.
Frank Chodorov was an American member of the Old Right, a group of conservative and libertarian thinkers who were non-interventionist in foreign policy and opposed to both the American entry into World War II and the New Deal. He was called by Ralph Raico "the last of the Old Right greats."
Ralph Raico was an American libertarian historian of European liberalism and a professor of history at Buffalo State College.
In the United States, libertarianism is a political philosophy promoting individual liberty. According to common meanings of conservatism and liberalism in the United States, libertarianism has been described as conservative on economic issues and liberal on personal freedom, often associated with a foreign policy of non-interventionism. Broadly, there are four principal traditions within libertarianism, namely the libertarianism that developed in the mid-20th century out of the revival tradition of classical liberalism in the United States after liberalism associated with the New Deal; the libertarianism developed in the 1950s by anarcho-capitalist author Murray Rothbard, who based it on the anti-New Deal Old Right and 19th-century libertarianism and American individualist anarchists such as Benjamin Tucker and Lysander Spooner while rejecting the labor theory of value in favor of Austrian School economics and the subjective theory of value; the libertarianism developed in the 1970s by Robert Nozick and founded in American and European classical liberal traditions; and the libertarianism associated with the Libertarian Party, which was founded in 1971, including politicians such as David Nolan and Ron Paul.
Ludwig Heinrich Edler von Mises was an Austrian–American Austrian School economist, historian, logician, and sociologist. Mises wrote and lectured extensively on the societal contributions of classical liberalism and the power of consumers. He is best known for his work on praxeology studies comparing communism and capitalism.
Right-libertarianism, also known as libertarian capitalism, right-wing libertarianism, or colloquially as libright, is a libertarian political philosophy that supports capitalist property rights and defends market distribution of natural resources and private property. The term right-libertarianism is used to distinguish this class of views on the nature of property and capital from left-libertarianism, a type of libertarianism that combines self-ownership with an egalitarian approach to natural resources. In contrast to socialist libertarianism, right-libertarianism supports free-market capitalism. Like most forms of libertarianism, it supports civil liberties, especially natural law, negative rights, the non-aggression principle, and a major reversal of the modern welfare state.
The Panic of 1819: Reactions and Policies is a 1962 book by the economist Murray Rothbard, in which the author discusses what he calls the first great economic crisis of the United States. The book is based on his doctoral dissertation in economics at Columbia University during the mid-1950s.
Walter Edward Block is an American Austrian School economist and anarcho-capitalist theorist. He currently holds the Harold E. Wirth Eminent Scholar Endowed Chair in Economics at the School of Business at Loyola University New Orleans and is a senior fellow of the non-profit think-tank Ludwig von Mises Institute in Auburn, Alabama.
Floyd Arthur "Baldy" Harper was an American academic, economist and writer who was best known for founding the Institute for Humane Studies in 1961.
David Gordon is an American libertarian philosopher and intellectual historian influenced by Murray Rothbard's views of economics. He is a senior fellow of the Ludwig von Mises Institute, a libertarian think tank, and is editor of The Mises Review.
Ronald Hamowy was a Canadian academic, known primarily for his contributions to political and social academic fields. At the time of his death, he was professor emeritus of intellectual history at the University of Alberta in Edmonton, Canada. Hamowy was closely associated with the political ideology of libertarianism and his writings and scholarship place particular emphasis on individual liberty and the limits of state action in a free society. He is associated with a number of prominent American libertarian organizations.
Jörg Guido Hülsmann is a German-born economist who studies issues related to money, banking, monetary policy, macroeconomics, and financial markets. Hülsmann is professor of economics at the University of Angers’ School of Law, Economics, and Management.