History of the Austrian School of Economics

In our time the most powerful theocratic parties are opposed to the world's great religions. Today's theocrats believe they alone can plan society and that they are enlightened.

Of course some of the private defense agencies will become criminal. But in a stateless society there would be no regular, legalized channel for crime and aggression.

The concept of capital is the fundamental concept of economic calculation, the foremost mental tool of the conduct of affairs in the market economy. Its correlative is the concept of income.

According to this theory, cooperation among any number of persons is more productive than the individual efforts of the same persons in isolation from one another.

This essay by Mises reveals that he regarded Edgeworth, not Marshall, as the leading British economist of the late nineteenth century.

The early American individualists of the nineteenth century were a diverse lot with fixed and unwavering love of true liberty.

In this short biographical entry on Ludwig von Mises, Murray Rothbard recounts a great man's life and work and explains his significance to the world of ideas and the history of his time and ours.

The idea of private property not only agrees with our moral intuitions—it is the sole just solution to the problem of social order.

The fact that I could take exception to some of Mises's teaching does not make me an apostate. It should prove, instead, that the great teacher had produced students with open and critical minds. 

Left-wing intellectuals such as Polanyi are always weeping about the "Coca-Colaization" of the rest of the world, bemoaning the supposedly lost glories of "folk culture" in the undeveloped countries, writes Rothbard.