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How Carl Menger and the Austrians Helped to Steer Economic Theory in the Right Direction
Media Asset
Author: Pedro Goulart
Online Publish Date:
Category: Austrian Economics Overview, Other Schools of Thought, Philosophy and Methodology, Political Theory
When Adam Smith and the English classicals promoted division of labor as the most important ingredient in economic development, it took Carl Menger and his Austrian successors to point out that error and promote the proper economic theory of production. Original Article:  How Carl Menger and the Austrians Helped to Steer Economic Theory in the
It Began with Carl Menger: The Austrian Intellectual Triumph
Mises Wire
Author: Pedro Goulart
Online Publish Date:
Category: Austrian Economics Overview, History of the Austrian School of Economics, Philosophy and Methodology, Subjectivism
Near the end of the nineteenth century, the European intellectual scene witnessed a remarkable theoretical contest known as the “battle of methods,” or in German, Methodenstreit . This intellectual clash stood out due to the confrontation between the precepts of methodological and subjective individualization, equipped with a subjectivist and
Unraveling the Roots of the German Mark’s Collapse
Mises Wire
Author: Pedro Goulart
Online Publish Date:
Category: Central Banks, Inflation, Monetary Policy, World History
The 1920s in the Weimar Republic, Germany, constitute a unique chapter in the global economic narrative, a chaotic symphony of financial forces that culminated in one of the most prominent hyperinflations ever witnessed. In this ephemeral period, the upward curve of price indices tested the limits of economic understanding and monetary stability.
How Carl Menger and the Austrians Helped to Steer Economic Theory in the Right Direction
Mises Wire
Author: Pedro Goulart
Online Publish Date:
Category: Austrian Economics Overview, Other Schools of Thought, Philosophy and Methodology, Production Theory
Adam Smith, in his 1776 book The Wealth of Nations , stipulates the guiding principles of classical economic orthodoxy, establishing guiding principles that will guide the English economic paradigm. Despite a tradition more focused on Colbertism (between the sixteenth and seventeenth centuries) and physiocracy (from the eighteenth century