Presentation And Comment On The Firm Theory Of Modern Austrian School

The theory of firm is a core area of the neoinstitutional economics' research. However, the Austrian school did not have its own theory of firm initially. Although many economists of the Austrian school have mentioned it in their literatures, they did not have further development. In recent years, the combination between the of the Austrian school and the theory of firm study, can be regarded as the most active innovative field of modern Austria school. And this study has acquired a lot of achievements. But these literatures are not mature, many thoughts of some literatures has no correlations and evenly contradictions. As such a developing theory, obviously, its study is not perfect and still tentative. There are many works need to do to develop its research framework.Therefore, on the basis of analysis of the existing research achievements, this paper sorts out the mainly literatures of this field systematically. It tries to probe into the theory of firm, which is based on the thoughts of modern Austrian economics. This theory's exploration consists of research methods, research foundation, theoretical framework and the influence to the development of the theory of firm. Such as the main research framework of this paper:The first part states the foundation of theory and methodology. The methodology basis consists of individualism, subjectivism and praxeological. And the theory basis consists of order theory, knowledge theory and entrepreneur theory. According to this notion, the main framework of the modern Austrian economics'firm theory is established. Finally, this paper provides the comment about this theory.