The Austrian School of economics originated with scholars from Vienna who recognized that an economy was not an amorphous blob of production but rather a collection of individuals, and they added allowances for how individuals acted and specifically how they valued things—improvements on Classical economics.
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Unidentified Speaker — The Most Important Economic Schools of Thought | Economics … [o6UXRZ2XwgU]Evidence Quote
“the Austrian School shares a lot of similarities with classical economics... what these early academics were trying to do was fix up some loose ends of classical economics primarily by realizing that an economy wasn't some amorphous blob of production but rather it was a collection of individuals.”
Created: 8/11/2026, 1:43:55 AM
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