Economics in Austria are still strongly influenced by the legacy of Austromarxism [0] (the city of Vienna is the largest landlord in Europe) and, more recently,

Economics in Austria are still strongly influenced by the legacy of Austromarxism [0] (the city of Vienna is the largest landlord in Europe) and, more recently, the Socialists under Bruno Kreisky [1], who built the modern welfare state. Given this reality of economics in Austria, the term "Austrian Economics" also seems like a misnomer. Maybe something like "Austrian Marginalism" would be clearer? [0] https://en.wikipedia.org/wiki/Austromarxism https://en.wikipedia.org/wiki/Austromarxism [1] https://en.wikipedia.org/wiki/Bruno_Kreisky https://en.wikipedia.org/wiki/Bruno_Kreisky