The Austromarxist group congregated from 1904 around magazines such as the Blätter zur Theorie und Politik des wissenschaftlichen Sozialismus and the Marx-Studien. Far from being a homogeneous movement, it was a home for such different thinkers and politicians as the Neokantian Max Adler and the orthodox MarxistRudolf Hilferding.
In 1921 the Austromarxists formed the International Working Union of Socialist Parties (also known as 2½ International or the Vienna International), hoping to unite the 2nd and 3rd Internationals, something which eventually failed.
Austromarxism had inspired later movement like the Eurocommunism and the New Left, to find a "third way", between communism and social democracy and find a way to unite the two movements.