Carl Menger and the birth of subjective methodology in the Economic Science
DOI:
https://doi.org/10.54571/ajee.427Keywords:
Carl Menger, methodology, Methodenstreit, Austrian School of Economics, Historical School of Economics, subjectivismAbstract
Carl Menger challenged the methodological foundations of the historicists in a debate that is known as Methodenstreit. The aim of this paper is to show how his methodological work brought about a radical shift in the understanding of the methodology of Economics. Additionally, we aim to demonstrate how these contributions are the basis upon which what would later come to be known as the Austrian School of Economics would be built. We will focus in particular on the connection between the contributions of Menger, with the economic theory of Ludwig von Mises who was the prime exponent of this school.
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