Justin M. Ptak

Carl Menger, founder of the Austrian School of economics, served as the tutor for Austrian-Hungary’s Crown Prince Rudolf, the only son of Emperor Franz Joseph. But Rudolph’s untimely death in 1889 would end up changing the ruling dynamics of pre-World War I Central Europe.

Governments take valuable things like paper and minerals, stamp something on them, and call them money, in the process rendering these things almost worthless. Something is wrong with this picture.

The revival of Austrian economics had roots in the Circle Bastiat group that met in New York City in the 1950s, among them Murray Rothbard and Ralph Raico.