Neoclassical Microeconomic Theory: The Founding Austrian Vision, by Anthony Endres
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Neoclassical Microeconomic Theory: The Founding Austrian Vision, by Anthony Endres
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Carl Menger, Friedrich Wieser and Eugen Bohm-Bawerk are acknowledged as pioneers in the development of neoclassical economics, as well as being recognized as the founders of the Austrian School of Economics. Neoclassical Microeconomic Theory examines their contribution and compares it with the other branches of neoclassical economics that emerged between the 1870's and 1930's. The author begins by exploring the initial stimulus provided by Carl Menger's work, and then demonstrates how the views of Menger, Weiser and Bohm-Bawerk complement one another and the tensions exhibited between them: the scope and method of economics; theories of choice; price theory; competition; entrepreneurship; and capital formation and distribution.
Neoclassical Microeconomic Theory: The Founding Austrian Vision, by Anthony Endres- Amazon Sales Rank: #4924293 in Books
- Published on: 2015-06-10
- Original language: English
- Number of items: 1
- Dimensions: 8.50" h x .61" w x 5.50" l, .0 pounds
- Binding: Paperback
- 288 pages
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Most helpful customer reviews
5 of 5 people found the following review helpful. Deceptive title but contrasts Austrians within Marginalists By Zander Haberstaft The title of this book gives you the impression that this is a study of "Neoclassical Microeconomic Theory" -that it is not. What the book is is actually something better than that.This book is a comprehensive analysis between the Austrian economic movement within the context of the Marginalist movement within the late 19th century. The book compares the Austrians against each other, for example comparing Menger to Bohm-Bawerk, Schumpeter and Wieser, and seeing the differences between their thought. It also goes a step further by comparing the convergence and disagreements that the Austrians doctrines have with other Neoclassical 'Marginalist' authors such as Jevons, Marshall and Walras. It also uses the mathematical models of Von Neumann and Morgenstern as well as Joan Robinson to compare to all of this.The book also goes into the second generation of Austrian economists like Mises, Hayek, and Kirzner for more comparison and analysis.The most amazing thing about this book is the author's ability to link as well as compare and contrast so many different economic doctrines and put it in the context of the entire discipline. The author doesn't reach any really earth shattering conclusions but his analysis is as entertaining as it is informative.The one important conclusion that the author makes is that the Austrians had important contributions to Marginalist/Neoclassical thought, but that ultimately the Neoclassical and Austrian disciplines went their different ways even before Von Neumann and Morgenstern's work. Marginalism was the only historical convergence point of Neoclassical and Austrian economics.
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