Madhyamaka

Madhyamaka (Sanskrit: मध्यमक, Madhyamaka, Chinese: 中觀派; pinyin: Zhōngguān Pài; also known as Śūnyavāda) refers primarily to a Mahāyāna Buddhist school of philosophy founded by Nāgārjuna. The school of thought and its subsidiaries are called "Madhyamaka"; those who follow it are called "Mādhyamikas". According to Madhyamaka all phenomena are empty of "substance" or "essence" (Sanskrit: svabhāva) because they are dependently co-arisen. Likewise it is because they are dependently co-arisen that they have no intrinsic, independent reality of their own.

“

Whatever is dependent arising
We declared that to be emptiness.
That is dependent designation,
And is itself the middle way.

”

—Nāgārjuna, Mūlamadhyamakakārikā 24:18

Read more about Madhyamaka:  Origins and Development, Schools, Concepts, Understanding in Buddhist Tradition, Understanding in Modern Scholarship