History of the Austrian School of Economics

The only relevant thing is that indirect exchange and money exist because the conditions for their existence were and are present.

That gold was used as money in the past is merely a historical fact. But the fact that gold was a form of private money, and thus not easily manipulated for government schemes, made it a target of countless intellectual and governmental assaults.

When the subjective theory was formulated in the 1870s, it suffered from the defect of wrongly thinking that economic calculation could occur without prices. This defect gave socialists help in making their case.

That gold was used as money in the past is merely a historical fact. But the fact that gold was a form of private money, and thus not easily manipulated for government schemes, made it a target of countless intellectual and governmental assaults. 

It is striking that the major resurgence of Scholastic ideas came out of Austria in the late 19th century, a country that had avoided a revolutionary political or theological upheaval. If we look at Menger's own teachers, we find successors to the Scholastic tradition.

In this plenary address from the 2021 Austrian Economic Research Conference, Samuel Bostaph, an economist and historian of economic thought, discusses how Ludwig von Mises preserved and developed the work of Carl Menger. 

Could there be a more doleful proof of the sterility of European civilization than that it can be spread by no other means than fire and sword?

The Murray N. Rothbard Memorial Lecture.

At a time when universities have become the most intolerant institutions against intellectual freedom, environments like the Austrian Economics Research Conference have never been more important.

To be an economist with integrity means having to say things that people don't want to hear and especially to say things that the regime does not want to hear.