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The Alternative Austrian Economics

A Brief History

John E. King

For most economists, ‘Austrian economics’ refers to a distinct school of thought, originating with Mises and Hayek and characterised by a strong commitment to free-market liberalism. This innovative book explores an alternative Austrian tradition in economics. Demonstrating how the debate on the economics of socialism began in Austria long before the 1930s, it analyses the work and impact of many leading Austrian economists through a century of Austrian socialist economics.
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Chapter 9: The heirs: II. Kurt Rothschild

John E. King


Chapter 9 is devoted to the work of Kurt Rothschild, who spent the war years in exile in Scotland, where he graduated in economics at Glasgow University and then began his academic career there. Returning to Austria after the war, Rothschild soon established an international reputation as an eclectic theorist who combined elements of Marxian, institutionalist, Post Keynesian and neoclassical thinking in his extensive writing on economic theory, policy and methodology. Towards the end of his remarkable life – Rothschild’s last book appeared in 2009, when he was 94 – he had become an influential advocate of pluralism in economics.

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