Austrian Economics and the Bloomington School

An Introduction and Overview

Originally published in Advances in Austrian Economics

The Austrian and Bloomington schools of political economy should be in conversation with each other. Both traditions have done much to encourage our focus on the various patterns of order in human societies. Both traditions have also improved our understanding of the challenges of collective action, the limits of centralization/monocentrism, and the potential of polycentric systems to effectively utilize local knowledge. Additionally, both traditions have engaged in empirical strategies that have privileged being 'on the ground' and efforts to understand their subject's point of view. Although they have explored similar territory, and a few scholars have contributed to both traditions, the links between the two schools are not as thick as they might be. This volume hopes to deepen these connections.

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