Although this paper was presented as a lecture in 1996, I have chosen to publish it in this volume in nearly its original manuscript form. It was never previously published or posted electronically, but the paper achieved a limited circulation in manuscript form via copy and fax machines during the primitive days of the Internet. Despite its
Volume 2, No. 1 (Spring 1999) The core of any system of economic theory is the explanation of how prices are determined. As Mises (1998, p. 235) himself put it, “Economics is mainly concerned with the analysis of the determination of money prices of goods and services exchanged on the market.” Thus, the core of Human Action is parts three and four
Volume 5, No. 3 (Fall 2002) The editors have decided to devote the bulk of Volume 5, Number 3, Fall 2002 Quarterly Journal of Austrian Economics to articles by F.A. Hayek, Eugen von Böhm-Bawerk, and Frédéric Bastiat . The articles by Hayek and Böhm-Bawerk were very recently translated from German by Marcellus Snow and George Reisman
There exists today in Anglo-American economics a veritable “conspiracy of silence” regarding the works and achievements of the French Liberal School of Economics. This is at once a sad commentary on the state of disinterested historical scholarship in the economics profession and a resounding confirmation of Thomas Kuhn’s theory of scientific
In a a blog post , Pete Boettke presents some interesting and innocuous ruminations about paradigm shifts and progress in science and, then, suddenly, after a few paragraphs, makes a startling categorical claim: “Amateur economists, individuals without advanced degrees, or those not teaching in research universities, who spend their time writing
A Good Talk for the Classroom by Mark Thornton Murray Rothbard argued that the cause of the Great Depression was the result of Herbert Hoover’s New Deal policies which sought to keep wages and profits high. Robert Higgs, Richard Vedder, and Lowell Gallaway extended this thesis to include FDR’s New Deal policies which created artificially high
A Man of Principle: Essays in Honor of Hans F. Sennholz John W. Robbins and Mark Spangler, eds. Grove City, Pennsylvania: Grove City College Press, 1992. An important contributing factor to the resurgence of Austrian economics in the 1970s was the appearance of a handful of articles which drew the attention of the economics profession
“What in a communistic society is done upon a decision of the supreme economic council is in our individualistic society brought about by the collective but independent action of the individuals and carried out by the price mechanism.” Gottfried Haberler was one of the first economists to make a rigorous case for the superior productivity and
Austrian Economics Newsletter , Vol 3, No. 1, Summer 1980. Fritz Machlup’s contributions to economics span a period of over 45 years. Born in 1902 in Wiener Neusstadt, Austria, he published his first book Die Goldkernwahrung (The Gold Exchange Standard) in 1925, the outgrowth of a dissertation written under the supervision of Ludwig von Mises at
Ludwig von Mises once wrote: “The flowering of human society depends on two factors: the intellectual power of outstanding men to conceive sound social and economic theories, and the ability of these or other men to make these ideologies palatable to the majority.” Hans Sennholz, professor emeritus at Grove City College, is one of a handful of
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.