History of the Austrian School of Economics

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Ludwig von Mises

In a totalitarian system, competition means courting the favor of those in power. In the market system, competition means sellers try to outdo one another by offering better or cheaper goods and services to the buyers.

Henry Hazlitt

Keynes's "greatest achievement," according to his admirers, was his famous "refutation" of Say's law. Yet Say's law actually remains more relevant than ever.

If Mises stopped short of affirming the full right of individual secession, it was only because of what he regarded as technical obstacles.

George Pickering

Providing the opening for Mises’s great methodological work gave Rothbard the opportunity to set down his perspective on the importance of the praxeological method.

Robert P. Murphy

Although it's true that Austrians agree with Chicago economists on many policy issues, their approach to economic science is very different.

Richard M. Ebeling

In this article in our “Remembering” series, we commemorate the well-known economist Oskar Morgenstern, best known as the codeveloper of modern game theory with John von Neumann.