Austrian scholars revolutionize understanding of social factors in economics.
The article discusses how Austrian scholars are working on a social economy research program to understand how social factors influence economic actions. They are exploring mental models, norms, social networks, and culture to complement their existing work in political economy. The scholars are using various strategies to develop this program, aiming to create a coherent framework. Austrian economics, with its focus on meaning in economics and the role of markets in social coordination, is seen as crucial in this research.