Organizations and Markets

Is Austrian Economics Premature?

1 September 2006 at 1:05 am Peter G. Klein Leave a comment

| Peter Klein |

Rafe Champion on “prematurity” in science:

This when a useful or even important discovery takes a long time to be picked up by the field at large. Mendel’s work on genetics is an example. And so is the Austrian approach to economics and social thought.

Here is Rafe’s review of Ernest B. Hook, ed., Prematurity in Scientific Discovery: On Resistance and Neglect (University of California Press, 2002), which explains it all. Personally, I prefer the moniker “ahead of my time,” but what the heck, I’ll take premature.

Entry filed under: - Klein -, Austrian Economics, Methods/Methodology/Theory of Science.