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Austrian School of Economics: Revisionist History and Contemporary Theory, Joseph Salerno

June 6

Mises Institute, Auburn, Alabama

Joseph Salerno, professor of economics at Pace University, is a leading figure in today’s growing Austrian School. He has been a pioneer in many fields, including monetary theory, comparative systems, the history of thought, and the economics of war. After the death of Murray N. Rothbard in 1995, Salerno assumed the editorship of the Review of Austrian Economics, together with Hans-Hermann Hoppe and Walter Block. He is now editor of its successor and current flagship scholarly journal, The QuarterlyJournal of Austrian Economics.


The seminar will consist of two primary lectures per day for five days, June 6-June 10, 2005, and discussion time with the professor.

Schedule (Central Time Zone)
9:30 a.m. - Shuttle departs Commons Dorm and AU Hotel for Mises Institute
10:00 - 11:30 a.m. - Lecture [live audio] [live video]
Noon - Lunch
2:00 - 3:30 p.m. - Lecture [live audio] [live video]
4:30 p.m. - Shuttle departs Institute for dorm and AU Hotel
On Friday there will be a closing pizza party at 5:00 p.m. with shuttle departing at 6:00 p.m.

Lecture Topics:

  1. Forerunners of the Austrian School: The French Liberal School  [mp3 audio]  [video]
  2. The Origin and Decline of the Austrian School: Menger, Böhm-Bawerk, and Wieser [mp3 audio]  [video]
  3. The Revival of the Austrian School: Mises and Rothbard [mp3 audio] [video]
  4. The Theory of Monopoly Price: From Menger to Rothbard [mp3 audio] [video]
  5. Modern Monetary Theory: The Austrian Contribution [mp3 audio] [video]
  6. Keynes and the “New Economics” of Fascism [mp3 audio] [video]
  7. Chicago School: Libertarian or Jacobin? [mp3 audio] [video]
  8. The Debate on the Socialist Calculation Debate  [mp3 audio] [video]
  9. Money and Gold in the 1920s and 1930s: Defending the Rothbardian Position[mp3 audio] [video]
  10. The Gold Standard in Theory and Myth[mp3 audio] [video]

The Seminar is open to full-time students (no charge for qualifying students), faculty, and current Members of the Mises Institute (Click HERE to join). Registration is $125 for Mises Institute Members and faculty, including daily boxed lunches and refreshment breaks, and the use of Mises Institute research libraries and computers. You may register online . Dormitory rooms are available for $35 per person per night double-occupancy or $45 per night single-occupancy. For other Auburn accommodations, go here. For Atlanta-Auburn airport shuttles, see  Express85.

Students may apply for tuition scholarships by submitting the  online application form  along with a copy of student ID and an informal transcript copy.  This information can be mailed to Salerno Scholarship Committee, Mises Institute, 518 West Magnolia Avenue, Auburn, Alabama 36832, or faxed to 734-448-8148, or emailed to pat@mises.org.

Readings and Preparation

The readings for each lecture are labeled “preparatory,” “core” or “supplemental.”  Depending on how well versed the student already is in the history and theory of the Austrian school, he may skip, quickly review, or carefully study the preparatory readings.   The lectures will refer to topics covered in the preparatory readings but their main themes will be drawn from the core readings.  Some of the issues and arguments in the core reading may be challenging, but difficult points will be addressed and clarified in the lectures and discussion periods.  Supplementary readings are intended to permit the interested student to explore additional aspects of the subject and may be read at his discretion.

Austrian School:  The French Liberal School

Austrian School: Menger, Böhm-Bawerk, and Wieser

Austrian School: Mises and Rothbard

The Theory of Monopoly Price: From Menger to Rothbard

Modern Monetary Theory: The Austrian Contribution

Keynes and the “New Economics” of Fascism

Chicago School: Libertarian or Jacobin?

The Debate on the Socialist Calculation Debate

Money and Gold in the 1920s and 1930s: Defending the Rothbardian Position

The Gold Standard in Theory and Myth

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