Mises Daily
Author:
Ralph Raico
Online Publish Date:
which, it insists, should be reduced to a minimum (Raico 1992, 1994). Austrian economics is the name given to the school, or strand, of economic theory that began with Carl Menger (Kirzner 1987; Hayek 1968), and it has theoretical connections between the denial of methodological individualism and the growth of socialism. Hayek (1955) assails “methodological collectivism,” with its