History of the Austrian School of Economics

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Jeffrey A. Tucker

As with other economists of the "old liberal" school, the rise of Nazism forced Röpke out of Germany and into intellectual exile. After the war, however, he made a triumphant return as adviser to finance minister Ludwig Erhard, another unsung hero of the period. Erhard repealed Germanys wartime economic controls and set the stage for the postwar boom. For this reason, Röpke is often called the brains behind the German economic miracle. He also became the most articulate opponent of European political integration.

Richard M. Ebeling

The period between the World Wars was a golden age for the Austrian School of economics. Led by Ludwig von Mises, a group of scholars writing in the tradition of Carl Menger broke new ground in economic science. Their studies showed the superiority of free markets and sound money over all forms of government control. A top theorist in that Mises Circle of thinkers was Gottfried Haberler, who died in Washington, D.C., at the age of 94 on May 6, 1995.