Menger said alternative monetary theories were “unhistorical,” but one could argue that Menger’s theory also lacks historical evidence necessary to verify his theory. Did Menger display a double standard or a nuanced view as to what we should expect from different monetary theories?
Bob revisits Böhm-Bawerk’s critique of the exploitation theory of interest to answer modern claims that billionaires like Elon Musk must have “stolen” their wealth from workers who supposedly create 100 percent of a firm’s value.
The Quarterly Journal of Austrian Economics invites submissions for a special issue commemorating the centennial of the founding of the Austrian Institute for Business Cycle Research, founded in 1927 by Mises and directed by Hayek. Guest editors are Per Bylund and Jonathan Newman.
"A truly free market is totally incompatible with the existence of a State, an institution that presumes to 'defend' person and property by itself subsisting on the unilateral coercion against private property known as taxation."
The Austrian School of economics isn’t a 20th century or even 19th century creation. Instead, Austrian economics is rooted in the logical thought, as developed by Aristotle and Thomas Aquinas.
The Austrian School of economics isn’t a 20th century or even 19th century creation. Instead, Austrian economics is rooted in the logical thought, as developed by Aristotle and Thomas Aquinas.
Despite the claims from many historians that they just report the facts, the study of history is highly ideological and historians often depend upon narratives. Mises pointed out another way in his Theory and History.
Leftist Boston University historian Quinn Slobodian claims that Ludwig von Mises was a Nazi sympathizer who favored Hitler’s views on race and imperialism, while broadcaster Thom Hartmann makes similar assertions. Neither man is willing to admit the truth about Mises.
Human Action by Ludwig von Mises is not just another book on economics, although its economic content is excellent and timeless. It is a passage through one truth after another, built upon logic and reason.
Ludwig von Mises was born 144 years ago today. His economic masterpieces are as relevant and powerful today as when they were written. Mises still is the most eloquent voice against socialism.
