" The original virtue of the Austrian School of economics, aside from Menger's ability to coherently connect cause and effect for Austrian policymakers who never listened to him, is that it was an early adopter of the idea that economics as a school of thought must be based on what are now called "micro principles" like individual human behavior. An economy, ultimately, is the sum of individual market choices, each one made because the actor thought they would gain from it. Mises attempted to (and certainly did not even come close to succeeding at) provide the foundation for a science of individual behavior that did not rest necessarily on psychology. He did this for the right reasons, but his effort was totally in vain. "
— Richard, 1/29/2014