Philosophy and Methodology

It took seven decades, but most people now accept what Ludwig von Mises explained three quarters of a century ago, namely, that centrally directed socialistic economies cannot succeed in coordinating vast numbers of interrelated decisions, in large part because of the information problem arising from non-market forms of resource allocation (Mises 1920). No amount of input-out- put models generated on vast computers can overcome the problems of directing resources under changing conditions of wants and scar-city.

Leland Yeager

Lecture to the memory of Alfred Nobel, December 11, 1974.

Henry Hazlitt VENTURA Adobe Acrobat 6.0 Paper Capture Plug-in

From Zeitschrift für Nationalökonomie Journal of Economics, Spring 1977.

Étienne de la Boétie's discourse is lucidly and coherently structured around a single axiom, a single percipient insight into the nature not only of tyranny, but implicitly of the State apparatus itself.

Reviewed by Thomas J. DiLorenzo Tariffs, Blockades, and Inflation: The Economics of the Civil War by Robert B. Ekelund, Jr.

The objective of this article is to point out a relatively neglected aspect of at least some of Buchanan's work, namely, its subjectivist roots.

The Philosophical Origins of Austrian Economics is a useful, clearly written study of the philosophical origins of Menger's theorizing in economics.