History of the Austrian School of Economics

Mainstream economics starts with models and works backward to reality. Mises started with reality and worked forward to theory. Herbener explains why that distinction changes everything.

Mises was a psychological hedonist, but not the kind you think. David Gordon untangles a philosophical position most Austrians have never examined closely.

DiLorenzo learned more about inflation and recession in 45 minutes of reading Mises than in two semesters of macroeconomics. That, he argues, is the Austrian School's greatest advantage: anyone can become their own economist.

Ricardo's law of comparative advantage wasn't just about trade between nations. Mises saw something deeper: it's the reason human society exists at all.

Ludwig von Mises nearly titled his masterwork Social Cooperation. Salerno explains why that alternative title reveals more about the book's ambition than most readers realize.

Murray Rothbard based much of his work on property rights, and in this piece, Ludovico Lumicisi applies Rothbardian thinking to the technology of our digital age.

However one may turn the matter, one cannot discover any reason why an ideological distortion of truth should be more useful to the bourgeoisie than a correct theory.

Despite the claims of the chartalists and modern monetary theory advocates, early American monetary history tells a much different story. In fact, much of the historical evidence illustrates Menger’s theory.

In this week’s Friday Philosophy, Dr. David Gordon reviews Joseph Salerno’s Money, Sound and Unsound, and still finds it golden.

A tribute to the late Roger W. Garrison (1944–2026) was delivered at the opening reception of the Austrian Economics Research Conference (AERC) in Auburn, Alabama on March 19, 2026.