Austrian economics – economics for the rest of us. The notion that economics must some how account for masses of people with individual interests, needs and motivations sounds messy but realistic. Like the human body – it is there working smoothly before your very eyes. But poke around and you realize that this is an incredibly complex system with its amazing ability to function within a wide range of conditions, even when subjected to stress, uncertainty, meddling and abuse.
Rooted in the tradition of Carl Menger and Ludwig von Mises, as well as Murray Rothbard and F.A. Hayek, the Austrian School offers a rigorous and logical approach to economics that gives free markets their due and takes full account of the reality of human choice.
More than a field within economics, the Austrian School is an entirely different approach that dissents from the mainstream on method, theory, and policy. It views economic actors as unique, conscious, and freely choosing individuals, not as undifferentiated data to be manipulated mathematically or politically.