Austrian Economics Overview

Mises's masterpiece restored on its 50th anniversary. 

It is both essential and impossible to review these two volumes. Essential, because they include the bulk of the scientific papers written by a great Austrian theorist.It is both essential and impossible to review these two volumes. Essential, because they include the bulk of the scientific papers written by a great Austrian theorist.

Socialism and War gathers together F.A. Hayek's most important papers on the socialist calculation debate. Although Hayek played a key role in this debate, his criticism of socialism was by no means confined to it.

In past issues of The Mises Review, I have sometimes criticized Don Lavoie in harsh terms: in fact, some of what I have said about him has been quite horrid.

This entry in Edward Elgar's Companion Series purports to be a survey and guide to modern Austrian economics.

Tertullian famously asked, "what has Athens to do with Jerusalem?"fter reading The Market Process one can but inquire, "What has bad philosophy to do with Austrian economics?" 

The intellectual achievements of Murray Newton Rothbard (1926-1995)—eminent scholar and friend—are monumental. He is the author of 25 books and thousands of article in scholarly and popular journals. His work covers the entire spectrum of the social sciences: pure economic theory, history, sociology, philosophy, religion, languages, and politics.

Two important questions to be answered: (1) What is inflation? What causes it? What are the effects? Inflation is an increase in the quantity of money available caused by an increased in the production of gold and silver, or an over-issuance of paper money. Prices rise. Purchasing power falls.