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.
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Llewellyn H. Rockwell, Jr., is founder and chairman of the Mises Institute in Auburn, Alabama, and editor of LewRockwell.com.
Murray Rothbard called his political philosophy anarcho-capitalism to differentiate it from the far more common “communist anarchism.” Or, rather, it was more common then. Today, Murray’s vision of the free society without the oppressive
What inspires us about the life of Mises, writes Lew Rockwell, is not his victimhood but his triumph over evil.
While upholding the radical ideal, Rothbard combined idealism with realism, scholarship with accessibility, and boundless curiosity with commitment to truth.
