http://en.wikipedia.org/wiki/Austrian_school#Influence
Many theories developed by "first wave" Austrian economists have been absorbed into mainstream economics. These include Carl Menger's theories on marginal utility, Friedrich von Wieser's theories on opportunity cost, and Eugen von Böhm-Bawerk's theories on time preference, as well as Menger and Böhm-Bawerk's criticisms of Marxian economics.[citation needed]
Former U.S. Federal Reserve Chairman Alan Greenspan said in 2000, that "[the founders of] the Austrian School have reached far into the future from when most of them practiced and have had a profound and, in my judgment, probably an irreversible effect on how most mainstream economists think in this country."[80] In 1987, Nobel Laureate James M. Buchanan told an interviewer, "I have no objections to being called an Austrian. Hayek and Mises might consider me an Austrian but, surely some of the others would not."[81]
Chinese economist Zhang Weiying, supports some Austrian theories such as the Austrian theory of the business cycle.[82] Currently, universities with a significant Austrian presence are George Mason University, New York University, Loyola University New Orleans, and Auburn University in the United States and Universidad Francisco Marroquín in Guatemala. Austrian economic ideas are also promoted by privately funded organizations such as the Mises Institute,[83] and the Cato Institute.
