Austrian School of Economics


The school that describes the true behavior of markets.


The Austrian School of Economics espouses principles and theories of economics based upon deduction from the nature of human action, especially stressing the subjective nature of value.

The Austrian School of Economics consist of a group of economists who developed the modern subjective theory of value and applied it to the various problems of economics. Its founders and early leaders Carl Menger (1840-1921), Friedrich von Wieser (1851-1926), and Eugen von Böhm-Bawerk (1851-1914), as well as Ludwig von Mises (1881-1973) and Friedrich A. Hayek (1899- )were all Austrian born. American Murray N. Rothbard also contributed to this body of work.

The principles and theories of the Austrian School of Economics, along with its methodology. provide the foundation for the economic assumptions advocated on The Free Market Center.

Carl Menger

Carl Menger -
The Father of The Austrian School of Economics