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Socio-Economic Review Advance Access published online on August 4, 2007
Socio-Economic Review, doi:10.1093/ser/mwm007
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© The Author 2007. Published by Oxford University Press and the Society for the Advancement of Socio-Economics. All rights reserved. For Permissions, please email: journals.permissions@oxfordjournals.org

Austrian economics and economic sociology: past relations and future possibilities for a socio-economic perspective

Gertraude Mikl-Horke

Department of Social Sciences, Vienna University of Economics and Business Administration, Augasse 2-6, A-1090 Vienna, Austria

Correspondence: gertraude.mikl-horke{at}wu-wien.ac.at

The diversity of approaches within modern economics is often overlooked by economic sociology focusing on the neoclassical orthodoxy. At the time of the dispute over methods there had been mutual influences between Max Weber and the Austrian version of neoclassical theory, but in the later approaches of economic sociology the special features of Austrian economics, which has developed from being one of the neoclassical schools into a strand of thought with unique characteristics, have not been recognized. Modern Austrian economics emphasizes time, uncertainty, knowledge and dynamic market processes, which are themes of importance for economic sociology. Moreover, the conceptions of individual action and social order in Austrian economics can be of relevance for a socio-economic perspective with regard to overcoming the division between social and economic factors.

Key Words: economic sociology • economic thought • economics


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