3. Why Austrian Economics Matters

Tags: Austrian Economics Overview

03/28/2006 Llewellyn H. Rockwell Jr.

Economics needn’t be the “incoherent” discipline Schumpeter mocked. Lew Rockwell argues the Austrian School best explains how society’s scarce resources get coordinated without central direction—the most profound and useful account of the market order.

From Speaking of Liberty, as narrated by the author, pp. 40-57.

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.

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3. Why Austrian Economics Matters