Philosophical Influences on the Austrian School of Economics

Karmen Marguč

Karmen Marguč

Keywords: Austrian school, deduction, subjectivism, individualism

Abstract

The fundamental idea of the subjectivist Austrian school of economics can be understood by recognizing philosophical influences that have made a significant con- tribution to the development of leading ideas. Due to the limited literature in this area, the need for research includes both a general overview of philosophical influ- ences and an analytical study of possible interactions. The results of this study have shown that the Austrian school was influenced by many philosophers, such as Aristotle, Brentano, and Weber, as well as its own critical orientation against logical positivists. The underlying fundamentals remain faithful to the basic principles of Men- ger. As such, it is interesting for further, more analytical study.

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Author Biography

Karmen Marguč

ECHO, d.o.o., Slovenia
E-mail: karmen@echo.si

Karmen Marguč is a Ph.D. student at the Faculty of Commercial and Business Sciences, Celje. Her main areas of interest are macroeconomic questions and solutions for global climate change, which she extended into ethical problems regarding intergenerational justice–an area she investigates in the Philosophy Department at the University of Maribor. In collaboration with her co-workers at the company Echo, she publishes articles on the possibilities of developing high-tech ecological products.

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