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Jim, This has always confused me, and perhaps you can enlighten. Taking some poetic license, my understanding is that von Mises begat von Hayek, von Hayek begat Friedmann and the Chicago School, and Friedmann and the Chicago School begat neoclassical economics in its modern form (Becker, etc.). I know that neoclassical economics developed independent of this thread, but my understanding is that by the 1980s, if not sooner, the threads had merged. I also know the Austrians claim Schumpeter, who to my mind is outside the neoclassical fold or at least agnostic and indifferent to many neoclassical teachings. I also am familiar with Hayek's reply to Galbraith on the "dependence effect" and how Hayek defended economic theory by declaring preference formation to be outside economic's scope, but this seems to me to be exactly what neoclassical econ does. (Maybe the Austrians do include history, except when responding to Galbraith.) So exactly how and on what points is the "Austrian" school officially anti-neoclassical? Marsh On 8/8/2010 3:00 PM, [email protected] wrote: Date: Sat, 7 Aug 2010 14:40:26 -0700 From: Jim Devine <[email protected]> Subject: [Pen-l] quotation du jour To: Pen-l <[email protected]> Message-ID: <[email protected]> Content-Type: text/plain; charset=UTF-8Writing to Ayn Rand, Ludwig von Mises wrote "You have the courage to tell the masses what no politician told them: you are inferior and all the improvements in your conditions which you simply take for granted you owe to the effort of men who are better than you." quoted in Corey Robin's review of two books about Ayn Rand in the NATION, June 7, 2010, p. 26. Strangely, (Robin says that von Mises was "one of the presiding eminences of neoclassical economics." Perhaps this refers to neoliberal economics, since von Mises' so-called "Austrian" school is officially anti-neoclassical.) --
Dr. Marshall Feldman, PhD
Director of Research and Academic Affairs  The University of Rhode Island email: marsh @ uri .edu (remove spaces) Contact Information:Kingston: 202 Hart House
Charles T. Schmidt Labor Research Center The University of Rhode Island 36 Upper College Road Kingston, RI 02881-0815 tel. (401) 874-5953: fax: (401) 874-5511 Providence: 206E Shepard Building
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