Philosophy and Methodology

Carl Menger (b. 1840) dared to create something he called the Austrian School of Economics. His was a new way of doing economic analysis. He sided with Aristotle’s realism.

This 1912 book is Mises’ first great theory. Mises agreed with Menger about the spontaneous emergence of money. No government is needed. Mises used a logical proof called the regression theory. It explained why money is demanded in its own right.

With its title of

When we discovered a solid stash of this book, the excitement in our offices was palpable.

John Stossel writes in his column today:

Narrated by Jeff Riggenbach.

Narrated by Jeff Riggenbach.

Narrated by Jeff Riggenbach.

Narrated by Jeff Riggenbach.

Few words get the good PR that democracy does. Americans are told we must fight for democracy around the world.