Fortalezas y debilidades de la escuela austriaca de economía

Abstract

The Austrian School of Economics is a stream that officially originated at the end of the 19th century under the majority inspiration of Austrian theorists. It holds ideas associated with liberalism and capitalism, as opposed to the currents framed within or close to socialism. With a little more than a century of existence it has been adding supporters in many countries, but it is still a minority force compared to the number of exponents of other economic currents. The present paper presents a synthesis of its history, highlights of the strengths it presents and the weaknesses that it observes according to its critics. In conclusion the Austrian School constitutes an academic phenomenon worthy of being taken into account and its arguments must be seriously contrasted with other economic schools.