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5 - The Austrian revival

Published online by Cambridge University Press:  06 October 2009

Karen I. Vaughn
Affiliation:
George Mason University, Virginia
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Summary

Ludwig von Mises' Human Action came to define Austrian economics in the 1950s and 1960s. Although Mises continued to write and publish, largely in the areas of methodology and public policy, Human Action was the ultimate authority on all things Austrian during this time. Similarly, Mises' New York University seminar was the major outpost of ‘Austrian economics’ in the United States. To be sure, other Austrian emigres to the United States were actively involved in academic pursuits. Fritz Machlup was teaching first at Johns Hopkins University and then at Princeton, Oskar Morgenstern at Princeton, Gottfried Haberler at Harvard, and Paul Rosenstein-Rodan, after 1954, at the Massachusetts Institute of Technology. However, despite the fact that they were working on issues that could considered ‘Austrian,’ as the term later came to be used, none of these economists thought of himself as ‘Austrian’ economist except by nationality. Even Friedrich Hayek who had moved to the United States in 1950 was not directly involved with Mises and his brand of Austrian economics. Hayek, as a member of the Committee on Social Thought at the University of Chicago was working on questions of political philosophy and psychology rather than on economic theory. theory. Although eventually Hayek's writings on these issues were to have a significant impact on American-Austrian economics, during this period, he was by and large separated from Mises and his following.

Type
Chapter
Information
Austrian Economics in America
The Migration of a Tradition
, pp. 92 - 111
Publisher: Cambridge University Press
Print publication year: 1994

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  • The Austrian revival
  • Karen I. Vaughn, George Mason University, Virginia
  • Book: Austrian Economics in America
  • Online publication: 06 October 2009
  • Chapter DOI: https://doi.org/10.1017/CBO9780511572142.006
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  • The Austrian revival
  • Karen I. Vaughn, George Mason University, Virginia
  • Book: Austrian Economics in America
  • Online publication: 06 October 2009
  • Chapter DOI: https://doi.org/10.1017/CBO9780511572142.006
Available formats
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Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • The Austrian revival
  • Karen I. Vaughn, George Mason University, Virginia
  • Book: Austrian Economics in America
  • Online publication: 06 October 2009
  • Chapter DOI: https://doi.org/10.1017/CBO9780511572142.006
Available formats
×