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Kingston 2016 Becoming an Economist Lecture 3: The Austrians (1/2)

Summary:
The Austrian School shares the same theory of value foundations as the Mainstream, but rejects its use of both equilibrium thinking and equilibrium-oriented mathematical modelling. I cover Hayek, complexity, and the Austrians most Austrians reject, Joseph Schumpeter.

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The Austrian School shares the same theory of value foundations as the Mainstream, but rejects its use of both equilibrium thinking and equilibrium-oriented mathematical modelling. I cover Hayek, complexity, and the Austrians most Austrians reject, Joseph Schumpeter.


Steve Keen
Steve Keen (born 28 March 1953) is an Australian-born, British-based economist and author. He considers himself a post-Keynesian, criticising neoclassical economics as inconsistent, unscientific and empirically unsupported. The major influences on Keen's thinking about economics include John Maynard Keynes, Karl Marx, Hyman Minsky, Piero Sraffa, Augusto Graziani, Joseph Alois Schumpeter, Thorstein Veblen, and François Quesnay.

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