Austrian School: The Austrian School of Economics is an economic school of thought that originated in Vienna during the late 19th century with the works of Carl Menger. The school is known for its emphasis on methodological individualism, subjectivism, and the importance of entrepreneurial discovery. Also see Ludwig von Mises, Friedrich A. von Hayek, Carl Menger, Method._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. |