By Raimondo Cubeddu
In recent times, the Austrian university has been an influential contributor to the social sciences. The Philosophy of the Austrian institution presents a philosophically grounded account of the School's methodological, political, and fiscal principles. Raimondo Cubeddu recognizes very important changes among the foremost figures within the School--Menger, Mises and Hayek--but additionally unearths vital parallels among those thinkers. the idea of subjective worth and the idea of spontaneous order, which either relaxation on rules in regards to the obstacles of human wisdom, are crucial of those parallels. Drawn jointly, those theories characterize some of the most unique avenues of analysis within the social sciences and an immense reformulation of liberal ideology.
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Extra info for The Philosophy of the Austrian School
Sample text
The origins of this school, in Menger’s eyes, were not to be thought of as stemming from Hegel, Fichte or Friedrich List, but rather from that particular group of historians and economists active in Tübingen and Göttingen towards the end of the eighteenth. 113 The Historical School of German Economists, then, arose from a confusion between history and politics and between historical and theoretical knowledge114, the result of which was a mistaken conception of nature and of the purposes of the METHODOLOGICAL PROBLEMS 23 social sciences.
This had resulted in failure to realize that the theory of human action is «logically prior to history» and that «without recourse to propositions accepted as universally valid» it is impossible to understand either of them. 124 Mises’s answer to the theory of human action proposed by historicism and to Verstehen was praxeology. This was founded on logic and the universal valid presuppositions of human action, and was seen «as an a priori category», on a par with «the principle of causality». 125 The theme of the opposition between historicism and praxeology, already stated in the Grundprobleme der Nationalökonomie, was later to be taken up again in Human Action.
144 As well as reaffirming its distinction from the «great historical schools», in The Constitution of Liberty Hayek also defined historicism as «a school that claimed to recognize necessary laws of historical development and to be able to derive from such insight knowledge of what institutions were appropriate to the existing situation». 145 But the construction of a social system based on fallacious premises was destined to bring about such a vast array of adverse consequences that it was bound to try to buttress itself with measures directed towards the limitation of individual freedom.