Thought Experiments, Counterfactuals and Comparative Analysis

Abstract:     
This article discusses the problem of "thought experiments" in Austrian economics and takes as a starting point Lawrence Moss’ argument on the divide between the older Austrian economists - for whom thought experiments were crucial - and the new generation that, in Moss’ view, has "abandoned" such methods. The article is an attempt not only to bridge this alleged divide but also to contribute to the development of the Austrian methodology.

Number of Pages in PDF File: 15

Keywords: Analysis, Counterfactuals, Methodology, Analytic narratives, Case studies, Thought experiments

JEL Classification: B4, B53

Accepted Paper Series