Abstract:

Economic thought has spread over a long period. This process was comprised of the economic thoughts of various economists within the schools of economics. The thinkers of different schools of economics, influenced by the thoughts of the previous periods, have strived for generating new economic ideas, solutions and information processes for the future. One of these schools was the Austrian School of Economics. The intellectual foundations of this school were laid by Carl Menger. Carl Menger’s idea of establishing economic theory on solid foundations other than the Classical economics was not embraced by the German Historian School. Thus, the methodology study, which started with the German Historian School, began to establish the economic thought foundations of the Austrian School into the science of economics. The Austrian School of Economics strived for analyzing economic theory in a healthier manner and rendered the “marginalist revolution” a methodologically crucial turning point for economics. In the study entitled “Austrian School of Economics: Its Theory, Methodology, Philosophy and Representatives”, a multi-faceted approach of thought, information is given about the contributions of the Austrian School of Economics to economic thought, as well as its methodology and representatives. The study is finalized with the conclusion part.

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