Mises was the premier Austrian economist of his generation, whose legacy reveals him to be the greatest economist of the 20th century. Almost singlehandedly, he kept the embers of free-market economics burning during the interwar years.
The status and reputation of Sir Francis Bacon (1561–1626) is one of the great puzzles in the history of social thought. What had he actually accomplished to warrant all the accolades? Essentially, he was the metaempiricist, the head coach and cheerleader of fact grubbing, exhorting <i>other</i> people to gather all the facts.
In their eagerness to eliminate from history any reference to individuals and individual events, collectivist authors resorted to a chimerical cons
In their eagerness to eliminate from history any reference to individuals and individual events, collectivist authors resorted to a chimerical construction, the group mind or social mind.
Rothbard explains that it is not enough to read an author's work. You have to understand his intentions, which means that you have to understand who he's talking to, who his friends are, who his enemies are, and who he's reacting against.
Thomas Mun set forth what would become the standard mercantilist line.
Hayek noticed that the British habit of proclaiming compromise to be ingenious is an excuse for closing the eyes to unpleasant facts. If there is anyone who is not entitled to put his trust in the genius for compromise and for muddling through, it is the modern planner.
There is, after all, the surprisingly favorable response that libertarianism encounters from people in all walks of life.
"Just as everyone is born ignorant of math, so everyone is born a folk economist."
