Austrian School - Österreichische Schule

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Austrian School - Österreichische Schule

The Austrian School of economics is a school of economic thought which advocates a methodological individualist approach to economics called praxeology, the theory that money is non-neutral, the theory that interest rates and profits are determined by the interaction of diminishing marginal utility with diminishing marginal productivity of time and time preferences, the theory that the capital structure of economies consists of heterogeneous goods that have multispecific uses which must be aligned (see Austrian business cycle theory), and emphasizes the organizing power of the price mechanism (see economic calculation debate)

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