Austrian vs. Neoclassical Analytics

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Recorded 28 July 2009 at the Ludwig von Mises Institute; Auburn, Alabama.


  • Robert P. Murphy, Ludwig von Mises Institute – Bio
Robert Murphy from the Ludwig von Mises Institute is explaining the 7 main differences between the Austrian and Neoclassical (or Mainstream) schools of thought.

By presenting simple examples for seemingly complex topics his lecture is suitable for everyone – from the interested amateur to the academic.


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Mainstream or neoclassical economics is the most common theoretical framework taught in universities nowadays. Nowadays, the Austrian school of Economics, which has almost been forgotten in Europe, has seen a revival due to the current financial crisis. Robert Murphy is explaining the main differences between these schools of thought.



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