Thought Experiments, Counterfactuals and Comparative Analysis
Review of Austrian Economics, Vol. 22, No. 3, 2009
15 Pages Posted: 12 Dec 2010
Date Written: September 1, 2009
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.
Keywords: Analysis, Counterfactuals, Methodology, Analytic narratives, Case studies, Thought experiments
JEL Classification: B4, B53
Suggested Citation: Suggested Citation