The Right Coast

September 29, 2005
 
Austrian vs Neoclassical
By Mike Rappaport

In my younger days, I seriously considered getting an advanced degree in Economics (before I seriously considered getting an advanced degree in Philosophy). Back then, I used to worry quite a bit about the debate between Austrian and Neoclassical economists -- between Hayek and Friedman. While I sympathized with the policy conclusions of Austrians, I could never quite embrace the principled Austrian position. Bryan Caplan seems to have a similar position. See here and here.