Entangled Political Economy and the Viennese Students of Civilization

Abstract

This chapter explores the shared insights of the Viennese students of civilization and entangled political economy. Viennese students of civilization describes a recent reinterpretation of interwar Austrian economics as a study of society focused on the defense of liberal civilization. Entangled political economy is an analytical framework that approaches society as a complex adaptive system and studies the emergence and evolution of social relationships. Viennese students of civilization and entangled political economy belong to the long tradition of classical political economy that places social interactions, and the institutions they generate, at the forefront of analysis. The chapter focuses on three areas common to both: emphasis on the study of society, the vulnerability of liberalism, and the role and influence of social scientists. The chapter closes with suggestions for two potential research streams these programs enable.

Keywords: entangled political economy, Viennese students of civilization, liberalism, democracy