Other Schools of Thought

From An Austrian Perspective on the History of Economic Thought, Volume I. Pages 194-209 in the text. Narrated by Jeff Riggenbach

She seems to me dubiously to assimilate international law to domestic law.Scarry has in any case given us in her excellent and provocative book an indictment of recent American policy difficult to answer.

"Keynes argues as if the government — or rather, 'forces outside the classical scheme of thought' — could control the volume without affecting any other aspect of the market economy. What sort of powers would government have to wield to be able to exert such a force?"

it is not possible to create something by printing money and redistributing real wealth. All that such policies produce is a further economic impoverishment.

There are thousands of people around the world wishing to live in the average American household, where bread is just a fraction of one’s inc

"While it would be more comfortable to get money for nothing, this would not be the wisest long-run policy solution to unemployment."

"Soon the women who stood in the pallid queues before shops spoke more about their children's hunger than about the death of their husbands."

We suggest that loose fiscal and monetary policies have severely undermined the ability of the private sector to generate real wealth.

An ever-growing diversion of real wealth toward government nonproductive programs runs the risk of further weakening the ability of the United States to generate real wealth.

Among the absolutist writers following Bodin, the 17th-century servitors of the absolute state, all hesitance or piety to the medieval legacy of strictly limited taxation was destined to disappear. State power, unlimited, was to be glorified.