Intro To Austrian School of Economics

The Austrian School of economics emphasizes the spontaneous organizing power of the price mechanism, believes the complexity of subjective human choices makes mathematical modelling of the evolving market extremely difficult (or impossible) and therefore advocates a "laissez faire" approach to the economy, with the smallest possible imposition of "non-consensual" (especially government-imposed) commercial transactions and the maximum openness to individual choice (including free choice as to the voluntary means of exchange).

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