Der Apriorist - Abstracts 06. Oct. 2010

The Ongoing Methodenstreit of the Austrian School

by Jesús Huerta de Soto

Tags: methodology
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Jesus Huerta de Soto, The Ongoing Methodenstreit of the Austrian School. Journal des Economistes et des Etudes Humaines 8.1 (March 1998): 75-113. Also in De Soto: "The Theory of Dynamic Efficiency", Routledge, 2009.


Quotes: This paper is divided into the following sections. Firstly, the characteristics that distinguish the two approaches (Austrian and neoclassical) will be explained and discussed in detail. Secondly, a summarized account of the Methodenstreit which the Austrian School has been maintaining since 1871 to date will be presented discussing its different "rounds" and implications. A reply to the most common criticisms made of the Austrian approach, together with an evaluation of the comparative advantages of the two points of view, will conclude the paper.

The ongoing Methodenstreit will continue while human beings still prefer doctrines that satisfy them to those that are theoretically true and while the rationalist fatal conceit of the human being, which leads him to believe that he has, in each specific historical circumstance, information which is much greater than that he can really possess, prevails. Against these dangerous trends in human thought, which inevitably will appear time and time again, we only have the much more realistic, richer and more humanistic methodology developed by the theorists of the Austrian School, which I, here today, cordially-invite the maximum number of freedom-loving scientists possible to join.




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