Author: Grigory A. Bazhenov

Abstract:

The paper presents the results of the research into methodological and epistemological propositions of the theories of Ludwig von Mises and Friedrich A. von Hayek, which significantly influenced the formation of the methodology of research programs of the latest generation of Austrians – the Mises-Rothbard view and the Hayekian view. The article primarily aims to draw demarcation lines between the views. Having conducted the comparative analysis the author identified epistemological and methodological particularities of Mises and Hayek’s theories which affected the position of the above-mentioned views in relation to the mainstream. The author concludes that the consistent development of the Mises doctrine has brought the Mises-Rothbard view of the new Austrian school to the marginal position whereas development of Hayek’s methodological achievements by representatives of the Hayekian view, by contrast, contributed to convergence of this direction with the mainstream.

Keywords: history of economic thought; the Austrian School; methodology of economics; heterodox economics.