A school of JURISPRUDENCE whose advocates believe that the only legitimate sources of law are those written rules, regulations, and principles that have been expressly enacted, adopted, or recognized by a governmental entity or political institution, including administrative, executive, legislative, and judicial bodies.
Well, I wouldn’t agree with that, but I would say it if “legitimate” were replaced with “somewhat reliably or predictably enforcable.”
You’re right, I don’t know what “Austrian law” is, I assume you don’t mean the law of the Austrian state; you mean the opinions of economists of the Austrian as regards to law? Could you be more specifc?