Since World War II, mainstream neoclassical economics has followed the general equilibrium paradigm of Swiss economist Leon Walras (1834-1910).1 Economic analysis now consists of the exegesis and elaboration of the Walrasian concept of general equilibrium, in which the economy pursues an endless and unchanging round of activity—wha
At the root of the dazzling revolutionary implosion and collapse of socialism and central planning in the “socialist bloc” is what everyone concedes to be a disastrous economic failure. The peoples and the intellectuals of Eastern Europe and the Soviet Union are crying out not only for free speech, democratic assembly, and glasnost, but also for private property and free markets.
Israel M. Kirzner The Economic Calculation Debate: Lessons for Austrians Adobe Acrobat 6.0 Paper Capture Plug-in
Israel M. Kirzner The Economic Calculation Debate: Lessons for Austrians Adobe Acrobat 6.0 Paper Capture Plug-in
From The Review of Austrian Economics Vol. 6, No. 1, 1992.
The Austrian theory of money virtually begins and ends with Ludwig von Mises’s monumental Theory of Money and Credit, published in 1912. Mises’s fundamental accomplishment was to take the theory of marginal utility, built up by Austrian economists and other marginalists as the explanation for consumer demand and market price, and apply it to the demand for and the value, or the price, of money.
The Gold Standard: Perspectives in the Austrian School. Edited with an Introduction by Llewellyn H. Rockwell, Jr. Copyright © 1992. The Ludwig von Mises Institute. Auburn, Ala. Pp. 116-130; The Gold Standard: An Austrian Perspective. Lexington, MA: D.C. Heath, 1985, pp. 1-17; Reprinted in The Logic of Action One: Method, Money, and the Austrian School. Glos, UK: Edward Elgar Publishing Ltd., 1997, pp. 364-383.
From The Review of Austrian Economics 1988.
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[From The Meaning of Ludwig von Mises: Contributions in Economics Sociology, Epistemology, and Political Philosophy, edited by Jeffrey M. Herbener (Mises Institute/Kluwer: 1993), pp. 193-208.]
