History of the Austrian School of Economics

Margit von Mises wanted her husband to be remembered for his humanity as much as his wisdom.

The Marginal Revolutionaries: How Austrian Economists Fought the War of Ideas is a lively history of the astonishing influence prewar Viennese intellectuals had on the greater world, and continue to have in areas far beyond economics.

Private ownership of the means of production is the fundamental institution of the market economy. It is the institution the presence of which characterizes the market economy as such. Where it is absent, there is no question of a market economy.

What lies at the base of all Austrian theorizing—from Menger to Mises. Presented at Mises University 1990.

It is not a conclusive proof of a doctrine's correctness that its adversaries use the police, the hangman, and violent mobs to fight it. But it is a proof of the fact that those taking recourse to violent oppression are convinced of the untenability of their own doctrines.

Presented at the Mises Institute's "First Annual Advanced Instructional Conference in Austrian Economics" at Stanford University.

Disillusioned in the Prussian state, the Young Hegelians proclaimed the inevitable coming apocalyptic revolution to destroy and transcend that state.

There is no more stopping the Mises School. And when the truth finally wins out, because only what is true can also work smoothly in the long run, then the hour of the Austrian School of Economics will have come.

The Austrian-school approach, with its realist, real-world approach, is actually more inclined toward empiricism than the neo-classical economists who tend toward very abstract theories and models.