Austrian Economics Overview

The beauty of Austrian economics is that it springs from real human action and does not depend upon the construction of abstract mathematical models meant to parallel reality.

In 1962, despite professional and institutional obstacles, Man, Economy, and State was finally published. With it, Rothbard greatly advanced the Austrian tradition and firmly positioned himself as Mises’s heir.

With advances in the Austrian theory of the business cycle, Rothbard finally completed the monumental task of deducing the entire corpus of economic theory using the praxeological method.

Murray Rothbard’s project drastically changed in mid-1953. Unable to rely on Mises’s sparse treatment of production theory, Rothbard adopted his old Marshallian approach, focusing on an individual firm that faced fixed prices and restricted investment decisions.

Murray Rothbard’s economic perspective changed significantly in 1949 when he met Ludwig von Mises and read his magnum opus, Human Action. 

Murray Rothbard started his career with a foundational training in neoclassical economics. 

Murray N . Rothbard: The Making of an Austrian Economist is written for everyone interested in Rothbard’s economic theory and Austrian economics in general. 

This book has been several years in the making. Originally we envisioned it as a collection of letters and unpublished monographs from the Rothbard Papers at the Mises Institute.

The Policy and History faculty panel takes student questions on the state of the movement and the prospects for freedom.

The Theory and Method faculty panel takes questions from Mises University students.