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  3. Journal of Economic Perspectives
  4. Fall 1997
  5. Austrian Economics, Neoclassicism, and the Market Test

Austrian Economics, Neoclassicism, and the Market Test

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Abstract

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

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

JEL Classification

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