The History of Economic Thought: From Marx to Hayek

A
A
Home | Mises Library | 1. Ideology and Theories of History

1. Ideology and Theories of History

  • The History of Economic Thought: From Marx to Hayek
January 13, 2006

Tags World HistoryOther Schools of ThoughtPhilosophy and Methodology

History is not an inevitable march upward, as concluded in the 1830s. That determinist view put the stamp of approval on everything past and present. It permeates economic history. It ignores the great moral choices. History is a race between state power and social power.

The Whig theory of history implied that you do not lose any knowledge. It always just builds. Yet that is not true for history, science, or economics.  Economics collapsed with Adam Smith. Most economists denied the role of price in determining cost. Few understood time preference.

Rothbard thinks Hegel is a nut.

The first in a series of six lectures on the History of Economic Thought.

Follow Mises Institute