Biographies

He took to laissez faire economics, not because of its utilitarian support, but because of his abhorrence of political intervention.

Price formation is the specific economic characteristic of the economy — as distinct from all the other social, historical, and technical characteristics — and that all specifically economic events can be comprehended within the framework of price formation.

Just as Keynesians and financial commentators bemoan the fact that people are reacting to the current downturn and stock market crash by saving instead of spending and investing, Law did all he could to keep investors from fleeing his crashing Mississippi Company shares and battered currency.

"What distinguishes the Austrian School and will lend it everlasting fame is its doctrine of economic action, in contrast to one of economic equilibrium or nonaction."

Interviewed by Michael Beitler on the “Free Markets” internet radio program; 20 November 2008.

"Mises must be compared to thinkers like Voltaire or Montesquieu, Tocqueville and John Stuart Mill."

As Mises relates in the present book, he had early on adopted the principle of never writing about the personal moral shortcomings of his opponents, of focusing instead on their intellectual errors in order to combat the latter more effectively.

Since both the New Left historians and the libertarian historians derived from Beard and Barnes, it might be expected that their scholarly and polemical paths would cross — that they would know of each other and, perhaps, even collaborate on projects of mutual interest and benefit.

"Since the name leftist had become identified with the struggle of the individual against the tyranny of government, the new tyrants continued to use that good name for their own purposes."