History of the Austrian School of Economics

Only real savings and labor, not pieces of paper called money, can create new capital goods. Gene Callahan explains.

Mark Skousen is not easy to satisfy. "In 1980," he informs us, " I asked Murray Rothbard to write an alternative to Robert Heilbroner' s The Wordly Philosophers." 

The writings of the great French economist explain why the recent conflict with China has ended through diplomacy and peace rather than belligerence and war, writes Llewellyn Rockwell.

Israel Kirzner's new book on Mises is a welcome addition to any economics library, writes Joseph Stromberg. It is remarkable how much the author accomplishes in this short work.

In a free market, it is wholly unwarranted. Brad Edmonds considers three cases.

Fetter saw "economics as essentially the study of value, and has viewed all economic phenomena as the concrete expression, under varied circumstances, of one uniform theory of value.

Despite the many illustrious forerunners in its six-hundred year prehistory, Carl Menger (1840-1921) was the true and sole founder of the Austrian school of economics proper. He merits this title if for no other reason than that he created the system of value and price theory that constitutes the core of Austrian economic theory. But Menger did more than this: he also originated and consistently applied the correct, praxeological method for pursuing theoretical research in economics. Thus in its method and core theory, Austrian economics always was and will forever remain Mengerian economics.

 Austrians have sometimes been very hard on Lord Robbins. He at one time embraced the views of Mises and Hayek; and in The Great Depression, he presented a resolutely Austrian theory of the business-cycle.

On the 50th anniversary of its publication, the 1st edition is re-released with a new introduction, expanded index, and spectacular production values.

The meaning of his life and contributions.