The Foundations of Austrian Economics from Menger to Mises
A Critico-Historical Retrospective of Subjectivism
This landmark book presents a critical study of the Austrian subjectivism of Menger and Mises and assesses their contribution in the light of contemporary philosophy of the human sciences.
Allen Oakley lays emphasis on the subjectivism of Menger and Mises as the foundation of Austrian economics. By situating their work in the context of the philosophies of the human sciences evolving around them, he shows how these founders of the modern Austrian tradition failed to fully appreciate and to adopt the more penetrating subjectivism of their contemporaries. He argues that, as a result, they left their successors an incomplete and ambiguous metatheoretical legacy.