Marshall Feldman <[email protected]> wrote: > So exactly how and on what points is the "Austrian" school officially > anti-neoclassical? >
of course, distinctions between schools is pretty arbitrary and conventional. Even though shared free-market (neoliberal) politics suggests a big overlap, I think that there is a distinction that makes matters clear (to me, at least): while the neoclassicals are static in their analysis, the Austries are dynamic. While the neoclassicals love mathematical models of equilibrium (with Walras being their main man), the Austries don't like math much at all, including equilibrium. Neoclassicals like to justify their opinions with data, while the Austries are against this practice. (At the beginning of Rothbart's book on the Great Depression, he apologizes for making empirical references.) The Austries also emphasize the role of the heroic Entrepreneur. Also, not all neoclassicals are laissez-faire in their politics: at least in theory, their view would allow for abundant government interference in markets. Maybe there's someone else on the list who can clarify this. -- Jim Devine "All science would be superfluous if the form of appearance of things directly coincided with their essence." -- KM
_______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
