Hermeneutics and Phenomenology in the Social Sciences: Lessons from the Austrian School of Economics Case
(forthcoming) The Review of Austrian Economics
24 Pages Posted: 4 Jun 2020 Last revised: 23 Apr 2021
Date Written: May 8, 2020
We study a case that applies hermeneutics to social sciences, in particular to the Austrian school of economics. We argue that an inaccurate treatment of hermeneutics contributed to an epistemological downgrade of the Austrian school in the economic scientific community. We discuss how this shortcoming can be fixed and how a proper hermeneutic application to the Austrian school explains why this school of thought is neither positivist nor postmodern.
Keywords: hermeneutics, phenomenology, Austrian school of economics, epistemology of the social sciences
JEL Classification: B25; B40; B53
Suggested Citation: Suggested Citation