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.

Some economists and the financial press believe that the U.S. in the 1990s and Japan in the 1980s experienced economic growth driven by a positive productivity shock. The economic growth was accompanied by growth of money and credit aggregates. Proponents of real business cycle considered the money growth benign, while adherents of the natural rate theory viewed it as beneficial because either the price level was stable or inflation rates were extremely low.

Hans-Hermann Hoppe A Theory of Socialism and Capitalism Acrobat 3.0 Import Plug-in

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 From the Journal des Economistes et des Etudes Humaines Bilingual Journal of Interdisciplinary Studies, Vol. 11, No. 4, December 2001.

The 1920s and 1930s were a glorious era in the history of the Austrian School of economics. In those days, the city of Vienna saw the first genuine culture of scholars working in the tradition established by Carl Menger, and this culture radiated throughout the rest of the German-speaking world and into other countries.