The Austrian school of Madrid

• Published in: The Review of Austrian economics Vol. 36; no. 1; pp. 61 - 79
• Main Author: Matarán López, Cristóbal
• Format: Journal Article
• Language: English
• Published: New York Springer US 01-03-2023; Springer Nature B.V
• Subjects: 16th century; Austrian school; Costs; Economic policy; Economic problems; Economics; Economics and Finance; Economists; Entrepreneurship; History of Economic Thought/Methodology; Political Science; Public Finance; Seminars; History of the economic ideas; B31; B53; N14; Methodology; B25; Austrian economics; History of the economic thought
• ISSN: 0889-3047; 1573-7128
• DOI: 10.1007/s11138-021-00541-0

This paper focuses on the current situation and the historical development of Austrian Economics in Madrid. We will analyse the formation of this School as the result of the thesis defended by Joaquín Reig Albiol in the late fifties and the current economic debate surrounding the fractional reserve and other complex issues. In this half-century tour, we will explore three different generations of Austrian economists in Spain, whilst demonstrating that a distinct branch of the Austrian School is today live and well in Madrid. Eventually, we will discover how the Spanish Austrian economists have applied praxeology to contemporary political and economic problems and conclude that a vigorous and growing economic school of thought exists in Madrid.