Austrian economics was institutionally nurtured by foundations and state bodies, not free markets.

Evidence

In its early stages, the institute was financed by the latter’s contacts at the Chamber of Commerce in Vienna, the Austrian National Bank and the Railway Federation. Later, it received support from the Rockefeller Foundation and became one of a string of funded business cycle institutes across Europe, which formed a Standing Committee of Business Cycle Institutes with Charles Rist as its president. — Dieter Plehwe, Quinn Slobodian & Philip Mirowski (eds.), Nine Lives of Neoliberalism, 396

Categorization

• XREF: Directly challenges the caricature of Austrian economics as purely laissez-faire thought; resonates with Quinn Slobodian’s broader argument (who co-edits this volume) about globalists’ institutional scaffolding. — connects to: Austrian economics originated as a reaction against state-led development — Mark Blyth, Austerity: The History of a Dangerous…, 382; Private property under capitalism was constructed by state institutions, not spontaneously — Clara E. Mattei, Escape from Capitalism, 69; The neoliberal state governs for the market, not because of it. — Wendy Brown, Undoing the Demos: Neoliberalism’s…, 111
• SEED: Angle: ‘The state-funded origins of Austrian economics’ — how the supposed libertarian school was bankrolled by central banks, chambers of commerce, and the Rockefeller Foundation.

Broader Connections

• Austrian economics originated as a reaction against state-led development #contradicts (0.85) — Mark Blyth, Austerity, 382
• Private property under capitalism was constructed by state institutions, not spontaneously #complicates (0.80) — Clara E. Mattei, Escape from Capitalism, 69
• The neoliberal state governs for the market, not because of it. #expands (0.78) — Wendy Brown, Undoing the Demos, 111