Challenge: The Austrian School of Economics as a mainstream economic paradigm

The Austrian School developed out of neo-classical 19th century economics, and is generally viewed as a continuation of classical liberal thought. Meanwhile, other schools like Keynesianism and Monetarism had long stretches of dominance, with the Austrian school generally being viewed as a kooky heterodox school, for a bunch of reasons (ideological trends going towards more government intervention, the school's rejection of econometrics and mathematical formulas), etc. Even so, one of the leading lights of Austrianism has a Nobel Prize, and the Austrian School didn't really become irrelevant until the 1950s.

What changes (either in dominant worldviews or in the Austrian system itself) would you make to make Austrian economics mainstream, if not dominant?
 
Their belief that economic theory is prior to experience makes this impossible. You can't have the Austrian School be the Austrian School we know it if they try to go mainstream; they'll just become another flavor of Monetarist neo-liberal.
 
The Austrian school had a big influence on economic thinking in Germany (and I think a few other countries too) in the 50s & 60s.
My economics professor ~5 years ago was still very found of it.

I think it loosing influence can be partialy attributed to its lack of mathematical formalisation.

Maybe if Keynes would never have risen to prominence or had been discredited early (maybe by voicing support for the Soviet Union)
the Austrian School would still be the moderate one of three big schools: Neo-marxist, Austrian, Neo-classical/monetarist.
 
à Uriel: That wasn't the Austrian School. Rather, the Austrian School's mortal enemy, the Freiburg School.
 
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