The Austrian School: A Perspective on its Action in the Epistemology of Economic Science La Escuela Austriaca: Una Perspectiva de su Acción en la Epistemología de la Ciencia Económica

Abstract

The objective of this research was to conduct a literature review on the Austrian School of Economic Thought. The research design consisted of a literature review leveraging scientific articles indexed in high-impact databases. This was done from an analytical, exploratory, applied, and non-experimental perspective. Among the main results, the particular methodological perspective of Austrian economists was determined: praxeology. This aspect implies that the focus of study and attention is the human being and their subjective nature, which leads to the lack of feasibility for modeling and predicting behavior. Economic freedom is another aspect highlighted. The contributions of precepts such as the lack of neutrality of money and subjectivity, as well as theoretical frameworks, are also aspects highlighted by the literature.