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# Austrian Economics # Austrian Economics
A heterodox school of economics that attempts to reason about human behaviour from first principles and deductive reasoning instead of quantitative analysis. Popular in the early 20th century but largely rejected by the modern academy. A heterodox school of economics that attempts to reason about human behaviour from first principles and deductive reasoning instead of quantitative analysis. Popular in the early 20th century but largely rejected by the modern academy.
This school of thought has seen a resurgence in relation to [crypto assets](../cryptoasset.md). These ideas often resonates with advocacy for the [gold standard](../gold-standard.md) and [libertarianism](libertarianism.md). This school of thought has seen a resurgence in relation to [crypto assets](../cryptoasset.md). These ideas often resonate with advocacy for the [gold standard](../gold-standard.md) and [libertarianism](libertarianism.md).
Prominent Thinkers in the Austrian tradition are: Prominent thinkers in the Austrian tradition are:
* Murry Rothbards * Murry Rothbards
* Ludwig von Mises * Ludwig von Mises