“All things are subject to the law of cause and effect. This great principle knows no exception.” INTRODUCTION Despite the many illustrious forerunners in its six-hundred year prehistory, Carl Menger (1840-1921) was the true and sole founder of the Austrian school of economics proper . He merits this title if for no other reason than that he
Hans Sennholz (February 3, 1922 - 23 June 2007), professor at Grove City College, was one of a handful of men in intellectual history who were able to perform both of these functions with notable distinction. J. B. Say, Frederic Bastiat, Carl Menger, Eugen von Böhm-Bawerk, Edwin Cannan, the early Lionel Robbins, Henry Hazlitt, William Hutt, Murray
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
[ Originally published October 2006. ] While it was the reading of Menger’s path-breaking book, Principles of Economics , by Mises’s own account that turned him into an economist, it was his attendance at Böhm-Bawerk’s legendary seminar at the University of Vienna that awakened Mises’s creative genius and gave direction to his life-long research
Friedrich A. Hayek was barely out of his twenties in 1929 when he published the German versions of the first two works in this collection, Monetary Theory and the Trade Cycle and “The Paradox of Saving.” The latter article was a long essay that was to become the core of his celebrated book and the third work in this volume, Prices and Production ,
William H. Hutt’s outstanding accomplishment is his pathbreaking reconstruction of the macroeconomic analysis of price and resource allocation, the long-established core of neoclassical economics. He demonstrates its indisputable and abiding relevance to the macroeconomic problems of inflation, unemployment, and depression. In the course of this
I vividly recall the event that set me on a long and winding road to libertarianism and Austrian economics. I was 12 years old and my parents, who were both first-generation Italian-Americans, were hosting some of my mother’s relatives, including a distant male cousin who had traveled from Italy to visit relatives residing in Rhode Island and New
Based on his book sales, John Kenneth Galbraith was probably the most read economist of the 20th century. From the publication of his first bestselling book The Great Crash in 1954 through the 1980s, the American left-liberal intelligentsia and media breathlessly anticipated and wildly celebrated the publication of each new book. Nonetheless, most
[ Review of Austrian Economics , 6(2), 1993, pp. 113-146] A Man of Principle: Essays in Honor of Hans F. Sennholz John W. Robbins y Mark Spangler, eds. Grove City, Pennsylvania: Grove City College Press, 1992 Un importante factor contribuyente en el resurgimiento de la economía austriaca en la década de 1970 fue la aparición de un puñado de
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.