Other Schools of Thought

Unfortunately, the economics Nobel this year neglects the problems at the heart of the State — the government failures that pollute and impoverish.

The Austrian story fits the facts of the housing boom—and bust—much better than the preferred narrative of Market Monetarists.

Besides the fun of catching Krugman in his flip-flops, his record shows just how weak the empirical case for Keynesian fiscal policy is.

The principal characteristic shared by Socrates, Plato, and Aristotle — the three greatest philosophers of ancient Greece — was their inability to grasp the essential principles of the spontaneous market order and its dynamic process of social cooperation.

Jevons called Cantillon's Essai the "Cradle of Political Economy." It was one of the few books quoted by Adam Smith and it deserves reading by any serious thinker of political economy today.

No organization has more money at its disposal than the US government, which attracts thieves and con men at least in full proportion to its control of wealth.

Fetter is mostly neglected today, but he had a powerful influence on practically every Austrian economist in the first half of the 20th century.

Critics of Roosevelt's New Deal often likened it to fascism. This was recognized to be true during the 1930s, by the New Deal's supporters as well as its opponents.

It's not really true that governments can always just print money to pay off their debts.

What characterizes capitalism is not the bad taste of the crowds, but the fact that these crowds, made prosperous by capitalism, became "consumers" of literature — of course, of trashy literature.