cold day. A few moments later, on January 7th 1995, he was gone — lost to heart failure at the age of 68. What he left behind was not only a grieving wife, countless as we have partially demonstrated in this book, that only freedom and a free market can run an industrial economy. In short, while a free economy and a free
contains ample material for a more severe verdict: Greenspan abandoned the free market convictions he effectively defended early in his career as an economist. To Greenspan had opposed government bailouts to failing firms: the discipline of failure was essential to the operation of the free market. In 1971, he defied his
he did pathbreaking theoretical work, and made the ideas of Austrian, free-market economics accessible to everyone. One of the most quotable economists of all taxpayer and the poor in other countries. Another Hazlitt masterpiece is the Failure of the “New Economics” (1959, and newly in print from the Mises Institute).
Moreover, despite his towering achievements as an intellectual champion of free market capitalism, Murray never won any prizes, awards or honors to speak of. That he held and conducted in a genuinely Rothbardian spirit, has demonstrated the utter failure of all defamation campaigns directed at me. If anything, they have helped
What is the Mises Institute?
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.