Statement of Purpose

The purpose of the Society for the Development of Austrian Economics is to support the development of an approach to economics that draws upon the insights of Austrian writers such as Carl Menger, Ludwig von Mises, and Friedrich Hayek, among others. These ideas include understanding markets as ongoing processes in time, the crucial role of knowledge in economic affairs and the importance of both entrepreneurs and institutions in creating a market order.

The Society recognizes that these ideas are not the exclusive property of Austrian theorists. Hence, in addition to those who are deeply influenced by Austrian writers, we also seek members who are involved in the development of the New Institutional Economics, Evolutionary Economics, Radical Subjectivism, Public Choice Theory, Constitutional Economics or any other related approach. We hope that as a sufficiently heterodox mix of scholars all broadly sympathetic to the same ideas, we can advance understanding of economic phenomena.

The Society will provide members with a variety of ways to share their interests and results of their work. We will hold an annual meeting in conjunction with the Southern Economic Association meetings each November, and we will distribute a semi-annual letter from the Secretary. Members will also be entitled to a significant discount on the Kluwer journal The Review of Austrian Economics and possibly other books of interest.