Journal of Economic Perspectives: Vol. 11 No. 4 (Fall 1997)


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Austrian Economics, Neoclassicism, and the Market Test

Article Citation

Yeager, Leland B. 1997. "Austrian Economics, Neoclassicism, and the Market Test." Journal of Economic Perspectives, 11(4): 153-165.

DOI: 10.1257/jep.11.4.153


Professor Sherwin Rosen correctly suggests that the Austrian and neoclassical schools can be complementary, each accepting much from the other. However his recognition of Austrian strengths needs to be amplified and his criticisms need softening. His appeal to the market test risks encouraging anti-intellectual attitudes and practices

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Yeager, Leland B. (Auburn U)

JEL Classifications

B41: Economic Methodology
D40: Market Structure and Pricing: General


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