History of the Austrian School of Economics

The map of Austrian economics in Europe—Madrid, Prague, Vilnius—traces back to a summer program in Auburn, Alabama.

Timothy Terrell traces the historical origins of the American healthcare cartel, beginning with Ronald Hamowy's 1979 article documenting how the AMA used state licensing laws not to protect patients but to restrict physician supply and raise incomes.

Carl Menger, founder of the Austrian School of economics, served as the tutor for Austrian-Hungary’s Crown Prince Rudolf, the only son of Emperor Franz Joseph. But Rudolph’s untimely death in 1889 would end up changing the ruling dynamics of pre-World War I Central Europe.

Carl Menger, founder of the Austrian School of economics, served as the tutor for Austrian-Hungary’s Crown Prince Rudolf, the only son of Emperor Franz Joseph. But Rudolph’s untimely death in 1889 would end up changing the ruling dynamics of pre-World War I Central Europe.

Austrian economics does not share the same methodology as we see in the economics mainstream. The Austrian emphasis on praxeology provides a better explanation of economic events than does the mathematically-bound mainstream.

Austrian economics does not share the same methodology as we see in the economics mainstream. The Austrian emphasis on praxeology provides a better explanation of economic events than does the mathematically-bound mainstream.

While Ludwig von Mises and Murray Rothbard are better known in circles of Austrian economics, Israel Kirzner also made many contributions in the area of entrepreneurship. 

Social, economic, and political problems are intertwined and complex and require a grand theory to address them. For Rothbard, the unifying theme of social theory was liberty.

Bob sits down with Harvard Economics Professor Pol Antras to discuss his new paper applying Böhm-Bawerk's average period of production to international trade.

What inspires us about the life of Mises, writes Lew Rockwell, is not his victimhood but his triumph over evil.