More Examples

“I am a student of the Austrian School of Economics.”

“My favorite economists are experts in the field of Austrian Economics.”

Austrian Economics, not Keynesian.”

Definition(s) from the Web

  1. On November 15, 2010, “ribuck” proposed that the one hundredth of a bitcoin (0.01 BTC) be called a Satoshi. Four months later he instead suggested that the one hundred millionth unit be called an austrian or a satoshi. The name satoshi caught on, and was widely adopted thereafter. Source
  2. The Austrian School is a heterodox school of economic thought that is based on methodological individualism—the concept that social phenomena result exclusively from the motivations and actions of individuals. The Austrian School originated in late-19th and early-20th century Vienna with the work of Carl Menger, Eugen Böhm von Bawerk, Friedrich von Wieser and others. It was methodologically opposed to the younger Historical School (based in Germany), in a dispute known as Methodenstreit, or methodology struggle. Current-day economists working in this tradition are located in many different countries, but their work is still referred to as Austrian economics. Among the theoretical contributions of the early years of the Austrian School are the subjective theory of value, marginalism in price theory and the formulation of the economic calculation problem, each of which has become an accepted part of mainstream economics. Since the mid-20th century, mainstream economists have been critical of the modern day Austrian School and consider its rejection of mathematical modelling, econometrics and macroeconomic analysis to be outside mainstream economics, or “heterodox”. In the 1970s, the Austrian School attracted some renewed interest after Friedrich Hayek shared the 1974 Nobel Memorial Prize in Economic Sciences. Source

Comments are closed.


  Recommended Bitcoin Videos

"The Rise and Rise of Bitcoin" (2013)
"Keiser Report: Bitcoin Millionaires vs Paper Billionaires" (2013)
"Banking on Bitcoin" (2017)
"Bitcoin Explained and Made Simple" (2014)
"How Does a Blockchain Work - Simply Explained" (2017)
"Smart Contracts - Simply Explained" (2017)

  Recommended Bitcoin Reading


  Recommended Bitcoin Websites