The economic crisis brought on by the Panic of 1857 and the political crisis brought on by the Austro-Sardinian War led to the spread of class consciousness among the Austrian working classes, culminating in the 1860s with the establishment of the International Workingmen's Association (IWA). A number of radical new schools of thought began to propagate throughout Austria, including the socialist tendencies of anarchism, syndicalism and social democracy, as well as liberal tendencies such as individualism, laissez-faire capitalism and the Austrian School of economics.