History of the Austrian School of Economics

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To young Menger, the cityscape still appeared as that of "old Vienna": enclosed on three sides by a city wall and moat.

The Austrian School of economics, also called the Viennese School of economics, was founded by Carl Menger in Vienna during the last third of the 19th century. Today, the tradition is larger and more vibrant than ever before.

David Gordon

Critics of Austrian economics often condemn Mises as dogmatic. In fact he advocated a commonsense method.