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From The Review of Austrian Economics Vol. 5, No. 2, 1991.

“Every theory must ultimately meet two tests: one, that of internal consistency, the other that of consistency with reality.”

From The Review of Austrian Economics Vol. 4, 1990.

From The Review of Austrian Economics Vol. 8, No. 2, 1995.

As is known, Murray N. Rothbard was one of the theorists who defended with the most creativity and coherence the need for free banking subject to general legal principles, in other words, banking with a cash ratio of 100 percent of demand deposits. Likewise, he was one of the first theorists to stress the great influence which the theoretical contributions of the Spanish scholastics of the University of Salamanca in the sixteenth and seventeenth centuries were to have as the direct predecessors of the Austrian School of Economics.

Reviewed by Thomas J. DiLorenzo Tariffs, Blockades, and Inflation: The Economics of the Civil War by Robert B. Ekelund, Jr. and Mark Thornton Adobe Acrobat 7.0 Paper Capture Plug-in Libertarian Legalism

The prehistory the Austrian School of economics can be found in the works of the Spanish scholastics written in what is known as the “Spanish Golden Century,” which ran from the mid- sixteenth century through the seventeenth century.1

From The Review of Austrian Economics Vol. 8, No. 2, 1995.

From The Review of Austrian Economics Vol. 7, No. 1 1993.