History of the Austrian School of Economics

Each physical unit of a means that enters into human action is valued separately.

A sober look at the assumptions underlying neoclassical analysis reveals that they are either not realistic or not applicable in economic analyses of the real world.

Several generations have benefited unknowingly from Mariana's courageous efforts to defend private property and freedom against the tyrants of his day.

As a government economist for Austria following WWI, Mises fought a losing battle against reckless policies of inflation and government spending.

Mises, unlike the neoliberals, argued that the best way to combat monopolies was to abolish the policies and government institutions that created them in the first place.

An autobiographical essay from a young Murray Rothbard offers insight into how his formative years shaped his later work.

If you want to know what Rothbard’s vision applied to contemporary America would be like in practice, you should look to Ron Paul. Dr. Paul’s career in Congress, marked by his opposition to war and the Fed, is the best example of the anti-elitist free market values that Murray supported.

Mises’s unique social theory does not appear to have had any precursors. However, the French liberal Destutt de Tracy, is one author who preceded and shared Mises’s rationalist views on society.

The classic novel Don Quijote should be taught in every economics department.

In this interview with Jeff Deist, Lew Rockwell discusses the founding of the Mises Institute, Murray Rothbard, and whether or not the good guys are winning.