Austrian economics constituted the original reactionary rejection of state-managed liberalism

Evidence

If the New Liberalism was what we might call “Mill’s modification”—a pragmatic adaptation to the complexities of the modern economy, then Austrian economics was “Ricardo’s rejection”—a fundamentalist reaction against the modern economy. The Austrian economists believed that liberalism was best defended, not through more redistribution and state management, but through the complete withdrawal of the state from its role in the economy. To borrow a term that is commonplace today, the Austrians were the original “neo” liberals. — Mark Blyth, Austerity, 315

Categorization

• DEFINE: Names the Austrians as the original ‘neo’ liberals, sharpening the intellectual lineage of the term.
• XREF: Directly seeds Blyth’s later argument connecting Austrian thought to modern austerity doctrines. — connects to: Austrian economics originated as a reaction against state-led development — Mark Blyth, Austerity: The History of a Dangerous…, 382; German ordoliberalism inverted the classical liberal problem of limiting the state — Michel Foucault, The Birth of Biopolitics: Lectures at…, 560; Ordoliberalism inverted classical liberalism by making economic effectiveness depend on political and legal systems — Mark Blyth, Austerity: The History of a Dangerous…, 362 (+3 more)
• ADDENDUM: The ‘Ricardo’s rejection’ framing parallels the historical-institutions work underpinning the austerity critique.

Broader Connections

• Austrian economics originated as a reaction against state-led development #corroborates (0.92) — Mark Blyth, Austerity, 382
• German ordoliberalism inverted the classical liberal problem of limiting the state #complicates (0.75) — Michel Foucault, The Birth of Biopolitics, 560
• Ordoliberalism inverted classical liberalism by making economic effectiveness depend on political and legal systems #complicates (0.75) — Mark Blyth, Austerity, 362