Carl Menger’s Revolution
Discrete marginalism, despite being non-mathematical, is superior to neoclassical marginalism. Usage of derivatives is not a sign of a more scientific method.
Discrete marginalism, despite being non-mathematical, is superior to neoclassical marginalism. Usage of derivatives is not a sign of a more scientific method.
Jeff Deist and David Gordon discuss Murray N. Rothbard's life from an insider's perspective.
I have re-examined Bastiat’s contributions to economic theory and have found the charges against him to be unsubstantiated. In terms of economic theory, Bastiat is widely knowledgeable
For those who know little or nothing about the subject the book is likely to be informative but also to be a source of misinformation, particularly for those who know something about one school
In the wake of the bicentenary of his birth, Frédéric Bastiat (1801–1850), his achievements, and his legacy have been reconsidered by scholars all over the western world.
In 1982, Rothbard closed his remarks on the controversy over the journal’s name with the following statement: “At any rate, we have a tough row to hoe in Austrianism in general to rescue it from:
The invisible hand remains an important foundation of economic analysis, continues to be a source of new analytical and explanatory devices, and is the conceptual basis of a whole class of scientific models
The particular force of Thier's argument lies in the refutation of economic calculation under socialism not only on grounds of practicability, but of a theoretical reasoning about the role of property
In the 1930's the Austrian School of economics lived through a crucial phase in its development, which led from the height of its influence at the beginning of the decade to its decline and dissolution after 1945.