Austrian economists have two conflicting ideas with regards to neoclassical economics. One group, to which F.A. Hayek belongs, criticize a number of issues on neoclassical economics without disagreeing with its fundamentals. The other group, led by Ludwig von Mises and Murray Rothbard, go against the foundations of neoclassical consumer and welfare theory and propose a systematic alternative. However, an examination of the said alternative showed that it is cannot supplant the foundations of neoclassical economics and that their complaints against neoclassical economics are unfounded.
