Other Schools of Thought

Disillusioned in the Prussian state, the Young Hegelians proclaimed the inevitable coming apocalyptic revolution to destroy and transcend that state.

John Maynard Keynes's stance on German reparations in the wake of the First World War may have precipitated the rise of Hitler.

"I am not saying that fiat money, once established on the ruins of gold, cannot then continue indefinitely on its own. Unfortunately … if fiat money could not continue indefinitely, I would not have to come here to plead for its abolition."

There is a growing drumbeat from some high-profile economists to reassure Americans that large increases in income and wealth taxes won’t distort labor markets. Yet much of their arguments are very misleading.

The rulers of that period had far-reaching powers over the activities of their subjects, while individual liberties were largely submerged.

The attack on the principles of the Rule of Law was part of the general movement away from liberalism which began about 1870. It came almost entirely from the intellectual leaders of the socialist movement.

In the 20th century, the US regime started refusing to recognize other regimes that failed to pass a morality test. But what was "moral" was never clear since FDR enthusiastically supported the blood-soaked Soviet regime under Stalin.

"It may well be, that is, that the Bolsheviks had never had the slightest idea of what their aims would mean concretely for the economic life of Russia, how those aims would of necessity have to be implemented, or what the consequences would be."

The standard Austrian approach to air pollution and regulation rejects the bean-counting of winners and losers, and instead embraces a property rights approach.

Unfortunately, some people prefer to attribute the cause of inflation not to an increase in the quantity of money but to the rise in prices.