Other Schools of Thought

Statistics can be interesting and informative, but only if one can properly understand them through sound economic theory.

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. 

The socialist calculation problem isn't a museum piece from 1920s Moscow. It's the Bureau of Land Management, this year. Timothy Terrell on why bureaucrats are still groping in the dark.

For a while, some economists tried to claim that business cycles are the result of significant changes in technology. The Austrians have a better explanation.

How German “anti-Marxism,” including national (anti-Marxian) socialism, absorbed the very Marxian ideas it claimed to oppose, with Werner Sombart as the case study of a thinker Marxist and anti-Marxist by turns.

A critique of the German “Socialists of the Chair” and their social policy—by way of the Methodenstreit, the clash of control versus economic law, and Max Weber—showing how “social liberalism” abandons liberalism itself.

When reading the works of great Austrian economics thinkers such as Henry Hazlitt or Robert Murphy, a lot of their work is theoretical and does not