The renewed interest in the Austrian School tradition that began in the 1970s continues today. With the fall of Communism in 1989, its theories have become even more relevant.
While Ludwig von Mises work found powerful allies in Italy (Luigi Einaudi, Bruno Leoni) and France (Jacques Rueff), Friedrich von Hayeks professorship at the London School of Economics introduced the
Austrian Schools theories to men like Lionel Robbins and J.R. Hicks. The Austrians' influence can also be seen clearly in the work of Ludwig Erhard and Wilhelm Roepke and Germanys Ordo Liberalism movement. Austrian School theories are now taught in universities from Aix en Provence to Buckingham and Turin.
Mises' work at New York University and Hayek's at the University of Chicago influenced an entire generation of American economists, including Israel Kirzner, Murray Rothbard, and James M. Buchanan, as well as scholars from Europe and the Americas. The founding of the Ludwig von Mises Institute at Auburn University and the Austrian School program at NYU are further indications that Austrian theories are still considered viable alternatives to mainstream economics. The latest generation of Austrian School economists is already taking up major academic positions.
In addition to the original work of Menger, Mises, Hayek and others mentioned in this guide, there are new books, journals, and essays about or in the tradition of the Austrian School published every year. Austrian ideas are studied in classrooms not only throughout the U.S., Latin America and Europe, but also the former Soviet Union, Africa and Asia.