Austrian School cames into existence in the process of the marginalistic revolution in the 70-ties of 19th century. Due to the theoretical and methodological heritage of L. E. von Mises numerous unique ideas and theories have been dynamically developed. Austrian School is based on the theory of marginal utility, uses methodological individualism and subjectivism, rejects scientismus and excessive using of the mathematical methods in economics. Ludwig von Mises perceives the economics as an integral part of the human behaviour science - praxeology. Mises significantly developed the following ideas: the concept of economic liberalism, the economic calculations problem, the theory of money developed on the basis of the theory of the marginal utility and the monetary policy of business cycle.
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