New Thinking in Austrian Economics

Abstract

This paper discusses the unique features of Austrian economics and some of the recent contributions of this school of thought. We organize these contributions in different research “buckets” in the hope that this will be a useful guide to readers while demonstrating the ongoing relevance of the contemporary Austrian school of economics for advancing scientific discourse. The research buckets discussed include robust political economy, macroeconomics, monetary economics, entrepreneurship and the market process, development economics, behavioral economics, governance, social economy, collective action challenges related to natural disaster recovery and infectious disease, and war and defense.

Keywords: Austrian economics, behavioral economics, development economics, entrepreneurship, governance, infectious disease, natural disasters, robust political economy, social economy, war

JEL Classification: B53, D40, D70, D80, E14, H70, K00, O10, P00, Z10