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Where is Austrian Economics going?

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msun641 Posted: Tue, Oct 23 2007 6:26 PM

http://austrianeconomists.typepad.com/weblog/2007/10/thinking-seriou.html

"If you want to pull off a "paradigm shift" you need to expose the anomalies within the prevailing paradigm insides of that paradigm --- thus the "essential tension".  Once you get the scientific establishment on its heels, the younger members of the scientific community (well trained enough to give them credibility) can peck away and eventually turn the tide and get a new paradigm to prevail."

 

Can someone explain the role of the Austrian School in the past 30-40 years? What have they been doing to create tension in the field? Why don't we hear about Austrian methodology in college classrooms? Is anyone out there, focusing the efforts of the great thinkers in the Austrian sphere?

 As I understand, the Austrian School took a huge hit when most of its leaders emmigrated to the US. As Austrians fanned out across the country, they lost focus.

Has the Austrian School regained that focus? 

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Well there seems to be an on-going revival of it. GMU, NYU and the LVMI are all promoting Austrian economics, and it is certain that in the future there'll be many more Austrian graduates. I believe even Harvard has some professors with an Austrian bent nowadays. Time will tell where this all leads. I'd be interested in a more informed perspective on the matter though. 

 

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