One group identified by this term was opposed by Gustav von Schmoller during the Methodensreit dispute.
One group identified by this term was opposed by Gustav von Schmoller during the Methodensreit dispute. One of this system's central works describes a "Revolt of Reason" and posits the title phenomenon as a constant, dynamic force that precludes the concept of permanent equilibrium. Its concept of "catallactics" was further explored in Man, Economy, and State by Murray Rothbard, while marginal (*) utility theory was extolled in the Principles of Economics by its ideological founder, Carl Menger. This system was championed in Human Action by a man whose protege authored The Denationalization of Money and rebuffed Oskar Lange in The Use of Knowledge in Society. Its leading theorists include Ludwig von Mises and the co-winner of the 1974 Nobel with Gunnar Myrdal, who warned of the consequences of state planning in The Road to Serfdom. For 10 points, identify this school of economics named for Friedrich Hayek's home nation, whose capital is Vienna.
One group identified by this term was opposed by Gustav von Schmoller during the Methodensreit dispute.
Austrian School