By Stephen C. Littlechild
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Additional info for Austrian Economics Vol. I (Schools of Thought in Economics)
Miihlherr: Ontologie und Monadologie ... , loc. , p. 489, 490. About the influence of Leibnitz see A. Tibal: L'Autridlien. Essais sur la formation d'une individualite nationale (du XVIe au XVI lIe siecle). Paris: 1936, p. 145, et seq. at See E. Mach: Erkenntnis und Irrtum. Leipzig: 1905. About the connection between Mach and the Viennese circle, see R. von Mises: Kleines Lehrbum des Positivismus. Einfiihrung in die empiristisdle Wissensmaftsauffassung. The Hague, Holland: 1939. 40 The book Die Grundlehren der Volkswirtsmaft is by Josef Kudler who taught from 1821-1848 at the University of Vienna.
Leon Walras (1834-1910) in Lausanne was above all interested in equilibrium prices resulting from market exchange. Finally, in Vienna, Carl Menger (1840-/921), the founder of the Austrian School, treated the whole span of the decision process of individual economic man to thorough economic analysis. Thus Austrian economic thought is part of the larger neoclassical tradition, which dominated economics up to the late 1930s, when it was-temporarily, as it proved-swamped by Keynesian economics. While being part of the neoclassical tradition, the Austrian school at the same time remained a consistently distinct entity with its own particular flavour.
The assumption that the primary form of knowledge is simple awareness of sense data, became a dominating force in Austrian intellectual life. Mach taught in Vienna, and his followers in the twentieth century, the Viennese circle, established logical positivism39• The thoughts about knowledge in the Viennese smool reflect clearly the Austrian tradition. But the idea of a social ontology contains elements whim are at variance with the general trend of Austrian thinking. The natural order according to the three authors shows inconsistencies.