George was close to the Austrians on many of these themes, including
methodological individualism. "The
methodological individualism of George and Menger stems from a realization that economists' 'inside' knowledge of human motives and decision-making is a leading source of basic empirical generalizations" (Yeager 1954a, 238).
Bylund offers a strong argument about the existence of firms by combining essential features of the Austrian School:
methodological individualism, disequilibrium, uncertainty and heterogeneity of capital (Bylund, 2016, pp.
Methodological individualism is what separates Hayek's historical empiricism from the Hazony variety.
In Das Wesen und der Hauptinhalt der theoretischen Nationalokonomie (1908), Schumpeter developed and pioneered his
methodological individualism which is acknowledged.
Many books, documentaries, articles and reports conclude that
methodological individualism is the motivational and driving force among Muslims to join terrorist activities.
On the other hand,
methodological individualism is the main instrument of researchers in studying the epistemology of social sciences today and represents a consequence of nominalism as intellectual attitude and method of research: the fact that in analysing social phenomena, only the individual who possesses his autonomous intentions and possibilities has explicative value.
Raymond Boudon, one of the most prominent French sociologists of the 1970s and 1980s, founded a "
methodological individualism," rather distinct from the cultural phenomenon of individualization (Boudon & Bourricaud 1982).
The microfoundations project is inherently reductionist, for the simple reason that
methodological individualism is a core element of mainstream economics in all its variants.
Austrian Economics, or more precisely the Austrian School of Economics, is unique in providing a theoretical framework which, although distinctly different from Walrasian general equilibrium, rests on
methodological individualism and the assumption of rationality of economic agents, two pillars of neoclassical economics, and leads to policy conclusions that are located to the "right" of the mainstream in pleading for unfettered markets, free trade and minimal government.
The stakes of this reunion are that "they both offer rigorous and profound alternatives to the
methodological individualism of liberalism.