This speech by Lew Rockwell was delivered at the Heritage Foundation, and even at the time was regarded as the best single overview of the teachings of the Austrian school, its contribution to the history of ideas, and the political implications of Austrian economic theory.
Economics, wrote Joseph Schumpeter, is “a big omnibus which contains many passengers of incommensurable interests and abilities.” That is, economists are an incoherent and ineffectual lot, and their reputation reflects it. Yet it need not be so, for the economist attempts to answer the most profound question regarding the material world.
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Llewellyn H. Rockwell, Jr., is founder and chairman of the Mises Institute in Auburn, Alabama, and editor of LewRockwell.com.
There is clearly no need for formal instruction in "how to play," in "getting along with the group," in "selecting a dentist," and the multitude of similar ‘courses’ given in "modern education."
Sound economics and economic freedom have never been more crucial than today. With your help, we will continue fighting against the state and its tyranny.
A just war must be defensive; a nation must be trying to stop an invasion. And even in a defensive war, you must follow certain restraints.
