History of the Austrian School of Economics

I highly recommend Robert Murphy's insightful evaluation of Murray Rothbard's <em>Man, Economy, and State</em> on the 50th anniversary of its publication.

Historians dismiss young Karl's poems as inchoate romantic yearnings, but they are too congruent with the adult Marx's doctrines to be dismissed.

Resign to them the management of tariffs, and they will give up all dispute with you in the domain of theory.

Economics deals with society's fundamental problems; it concerns everyone and belongs to all. It is the main and proper study of every citizen.

Karl Marx did not propose to leave the attainment of communism to the imperfect free wills of mankind.

The labor theory of value cannot explain the price of a single commodity. Can it, however, explain the pattern of such prices? No.

Marx said that the key to the communist world is <em>not</em> a principle of the distribution of goods but the eradication of the division of labor.

In all these statements the idea is unmistakably expressed that profits arise from the pressure the possessing classes exert on the nonpossessing classes.

It is of interest to inquire how and why the very obstacles to his material prosperity have come to be mistaken for the cause of man's prosperity.

Marx's devotion to communism was his crucial point, far more central than the dialectic, the class struggle, the theory of surplus value, and all the rest.