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In their discussion of my modest contribution on the character of Austrian industrialization, my esteemed colleagues Eduard März and Herbert Matis have raised a number of questions regarding the “new economic history,” the nature of historical inquiry, epistemology, and the value of my conclusions. In addition, they have both, and Prof. März in particular, raised a number of suggestive hypotheses—if I may be forgiven the use of the word—in regard to the character of Austrian economic development. Needless to say, in this brief reply I cannot discuss all the points touched upon in their discussion. However, I would like to deal with those which strike me as the most significant.
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