- instigated marginal utility, opportunity cost, subjective consumer preferences and showed the crucial relevance of time to capital investment. Capital requires resources: voluntary saving is the key to high investment-led economic growth. Other fundamentals are: methodological individualism, rational human action, entrepreneurship, subjectivism in value, competition as a process, uncertainty in economic behviour, sound money and limited government.

- was sidelined as marginal utilty and opportunity cost became integrated into mainstream economics, and as capital theory, business cycles, entrepreneurship and the dymanic market process proved too complex for the new economist mathematicans. Its subsequent slow recovery coincided with growing disaffection with Keynesian demand management. After Friedrich Hayek received the Nobel prize in 1974, his opposition to Keynes’s economics increasingly recieved the attention it deserves .... but Austrian Economics remains a minority interest.