History of the Austrian School of Economics

In the same way that we need some junior historian to devote his career to exposing every nefarious plot of the New Deal, so we need an economist to refute the General Theory.

The reason for this is that all production, including any new and additional production called into being by stimulus packages, itself entails consumption. And this consumption tends at the very least to approximate the fresh production and, indeed, is capable of equaling or even exceeding it.

The amazing fact is that the great majority of British people are not yet consciously aware that they are living in a very severe economic crisis.

"The single most important book on the Great Depression is that by Murray Rothbard." – David Gordon

In reality, a house is a consumers' good, just like an automobile or a refrigerator.

Old Right journalist Garet Garrett described the New Deal as a revolution against America's tradition of private property, limited government, and the rule of law.

Forget the tests; just set kids free.

Recorded at the Ludwig von Mises Institute, Auburn, Alabama; 5-6 February 1999.

Recorded at the Ludwig von Mises Institute, Auburn, Alabama; 5-6 February 1999.

Recorded at the Ludwig von Mises Institute, Auburn, Alabama; 5-6 February 1999.