Rothbard on Interventionism: Writing the Last Chapter of Economic Theory

03/24/2026 Joseph T. Salerno

Professor Joseph Salerno traces how Rothbard’s mastery of the praxeological method led him to the controversial but logically airtight conclusion that business cycles have a single, exogenous cause and a single cure.

The Murray N. Rothbard Memorial Lecture, sponsored by Steve and Cassandra Torello.

The Austrian Economics Research Conference is the international, interdisciplinary meeting of the Austrian school, bringing together leading scholars doing research in this vibrant and influential intellectual tradition. For more information, visit https://Mises.org.

The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.

Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.