The economists of the Austrian School count among the most consistent supporters of methodological individualism, but they were for the most part strongly opposed to clearly anti-holist trends such as constructivism, reductionism, and positivism. This article discusses why the sort of methodological individualism defended by the Austrians could not, for interconnected reasons, be rendered compatible with any one of these philosophical trends. The manner in which the Austrians managed to reconcile their analysis of economic mechanisms with a strictly subjectivist approach (...) is especially considered. The discussion also underscores some ambiguous dimensions of the debate between holism and individualism. (shrink)

ABSTRACT: The economists of the Austrian School count among the most consistent supporters of methodological individualism, but they were for the most part strongly opposed to clearly anti-holist trends such as constructivism, reductionism, and positivism. This article discusses why the sort of methodological individualism defended by the Austrians could not, for interconnected reasons, be rendered compatible with any one of these philosophical trends. The manner in which the Austrians managed to reconcile their analysis of economic mechanisms with a strictly subjectivist (...) approach is especially considered. The discussion also underscores some ambiguous dimensions of the debate between holism and individualism. (shrink)