search query: @indexterm AUSTRIAN SCHOOL / total: 12
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| Author: | Johannsen, O. B. |
| Title: | Henry George and the Austrian Economists |
| Journal: | American Journal of Economics and Sociology
2001 : VOL. 60:5, p. 25-32 |
| Index terms: | ECONOMICS ECONOMISTS AUSTRIAN SCHOOL |
| Language: | eng |
| Abstract: | Although, unfortunately, henry george did not appreciate the Austrian School of Economics, there is much in common between his thinking and that of the Austrians. Professor Yeager has pointed out "how similar Henry George's views on economic research methods are to the views of his Austrian contemporary, Carl Menger," noting among other similarities, the parallelism of their methodological tenets. Since the very basis of the Austrian concept of value is subjective, it is apparent that George's understanding of value paralleled theirs. However, he either did not understand or did not appreciate the importance of marginal utility, a concept of which Menger was one of the original propounders. Both George and the Austrians are free market economists. |
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