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.
Hardly anyone talks of the table of virtues and vices anymore, but in reviewing them, we find that they nicely sum up the foundation of bourgeois ethics, and provide a solid moral critique of the modern state.
Murray Rothbard was a pioneer in analyzing taxation from an Austrian or causal-realist standpoint. However, he never explicitly engaged the standard theory of deadweight loss from taxation. This article develops the Austrian analysis of taxation further toward this end
As Mark Thornton has shown, the big legislative change that FDR made at the start of his presidency, the decision that affected every single American citizen from one coast to the other, was the repeal of the thirteen-year hell of Prohibition.
By 1715, the manipulation of the currency, the increase in public debt, and the mismanagement of state finances had left France in poverty and chaos. Such was the state of affairs when John Law appeared in Paris.
As Mark Thornton has shown, the big legislative change that FDR made at the start of his presidency, the decision that affected every single American citizen from one coast to the other, was the repeal of the thirteen-year hell of Prohibition.
Mises's firm anti-inflation view—and his recommendation for a return to sound money (that is, free market money)—rested on his awareness of the disastrous consequences of an inflationary policy.
Mises's firm anti-inflation view—and his recommendation for a return to sound money (that is, free market money)—rested on his awareness of the disastrous consequences of an inflationary policy
Joe Salerno provides a brief description of fractional reserve-banking, identifies the problems it presents in the current institutional setting, and suggests a potential solution.
What the witch was to medieval man, what the capitalist is to socialists and communists, the speculator is to most politicians and statesmen: the embodiment of evil.
