“SHOULD I STUDY (FOR A PHD IN ) AUSTRIAN ECONOMICS?”—- If you study to be an A

—“SHOULD I STUDY (FOR A PHD IN ) AUSTRIAN ECONOMICS?”—-

If you study to be an Austrian Economist at GMU you will be in demand. (Ask them, and they’ll tell you. Look at placement data.) Why? Austrian Econ (bottom up, micro, entrepreneurial, and political economy) is a rare specialization that is methodologically rigorous and extremely valuable to certain sectors, certain governments, certain political parties, and to the financial and investment sector in particular.

If you just want to teach orthodox (Leftist) econ (top down macro and public choice) you are better off in the orthodox camp. If you want a balance, study at Chicago.

I think we are within twenty years of catastrophic reorganization of the field, and that if you are young, and interested in Austrian Econ, your long term prospects are quite good.

-cheers