Philosophy and Methodology

Austrian economics is reality based. The current economic policies coming from Washington are based on economic fantasies.

We often remember the thinkers who defended liberty when its prospects looked bleak, and for good reason. But we should also remember the people who supported them and made their work possible without knowing what would follow.

We often remember the thinkers who defended liberty when its prospects looked bleak, and for good reason. But we should also remember the people who supported them and made their work possible without knowing what would follow.

Thomas Sargent places Patrick Newman in a tradition of American historians—Charles Beard, Forrest McDonald, Richard Hofstadter, and Murray Rothbard—who compress data and look for patterns in how the state is designed and managed.

What followed 9/11 was 25 years of systematic destruction of American liberties, and the final destruction of the Bill of Rights, all in the name of "safety" and "patriotism."

What followed 9/11 was 25 years of systematic destruction of American liberties, and the final destruction of the Bill of Rights, all in the name of "safety" and "patriotism."

Rothbard’s method: no abstract “forces,” only individual actors.

Murray Rothbard entered Columbia University at age 16 and by the time he was graduated from that institution with a Ph.D. in economics, he already had done path-breaking work in economics. His legacy has only grown since then.

While not as effective an economist as Ludwig von Mises or Murray N. Rothbard, Ludwig Lachmann played an important role in the revitalization of Austrian economics after 1974.

Statistics can be interesting and informative, but only if one can properly understand them through sound economic theory.