The Subjectivist Methodology of Austrian Economics and Dewey's Theory of Inquiry

PRAGMATISM AND ECONOMIC METHODOLOGY, Elias Khalil, ed., pp. 327-356, Dewey, London: Routledge, 2004

29 Pages Posted: 18 Jan 2010

See all articles by Virgil Henry Storr

Virgil Henry Storr

George Mason University - Department of Economics; George Mason University - Mercatus Center; University of Arizona Center for the Philosophy of Freedom

Don Lavoie

affiliation not provided to SSRN

Peter J. Boettke

George Mason University - Department of Economics

Date Written: 2004

Abstract

The aim of this paper is to elaborate on the Austrian school’s methodological orientation, which they named “subjectivism,” in a way that shows its affinity with the main thrust of John Dewey’s notion of the logic of inquiry. It is trying to make two distinct but related points. First, it is trying to clarify what “subjectivism,” the central methodological principle of Austrian economics, really means, or at least what we think it should mean. It can be understood as a challenge to the “objectivistic” attitude of mainstream economics, the attitude that the Austrians argue is what is keeping economics too disconnected with the everyday world. Second, the paper is trying to show that the confusions that have arisen around the Austrians’ own method might be cleared up if we were to draw from Dewey’s work.

JEL Classification: B53

Suggested Citation

Storr, Virgil Henry and Lavoie, Don and Boettke, Peter J., The Subjectivist Methodology of Austrian Economics and Dewey's Theory of Inquiry (2004). PRAGMATISM AND ECONOMIC METHODOLOGY, Elias Khalil, ed., pp. 327-356, Dewey, London: Routledge, 2004 . Available at SSRN: https://ssrn.com/abstract=1538074

Virgil Henry Storr

George Mason University - Department of Economics ( email )

4400 University Drive
Fairfax, VA 22030
United States

HOME PAGE: http://virgilstorr.org/

George Mason University - Mercatus Center ( email )

3434 Washington Blvd., 4th Floor
Arlington, VA 22201
United States

HOME PAGE: http://virgilstorr.org/

University of Arizona Center for the Philosophy of Freedom ( email )

Department of History
Tucson, AZ 85721
United States

HOME PAGE: http://virgilstorr.org/

Don Lavoie

affiliation not provided to SSRN ( email )

Peter J. Boettke (Contact Author)

George Mason University - Department of Economics ( email )

4400 University Drive
Fairfax, VA 22030
United States
703-993-1149 (Phone)
703-993-1133 (Fax)

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