10 Propositions Austrian Economists Believe (by Peter Boettke)
Channel: Man Against The State
Date: 2012-02-06

Peter J. Boettke, "Austrian School of Economics." from The Concise Encyclopedia of Economics, Library of Economics and Liberty.

Link to article:
http://www.econlib.org/library/Enc/AustrianSchoolofEconomics.html

10 Propositions Austrian Economists Believe:

Proposition 1: Only individuals choose.
Proposition 2: The study of the market order is fundamentally about exchange behavior and the  institutions within which exchanges take place. 
Proposition 3: The "facts" of the social sciences are what people believe and think. 
Proposition 4: Utility and costs are subjective. 
Proposition 5: The price system economizes on the information that people need to process in  making their decisions. 
Proposition 6: Private property in the means of production is a necessary condition for rational  economic calculation.
Proposition 7: The competitive market is a process of entrepreneurial discovery. 
Proposition 8: Money is nonneutral. 
Proposition 9: The capital structure consists of heterogeneous goods that have multispecific uses  that must be aligned. 
Proposition 10: Social institutions often are the result of human action, but not of human design