Heterodox
Both Austrian and Neoclassical economics stem from the Marginalist revolution of the 1870s. Although there are important differences between both schools, they have enough in common that is flawed to make them both subject to this critique:(1) both Austrian and Neoclassical theory ultimately hold that free markets have a tendency towards general equilibrium, and hence economic coordination by means of a flexible wage and price system, and a (supposed) coordinating loanable funds market that...
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