History of the Austrian School of Economics

Mises and Hayek are widely considered the most eminent liberal thinkers of the twentieth century. But, there are differences in their two legacies.

Mises missed no opportunity, in private as well as in public, to proclaim his abhorrence of all forms of state intervention.

What is the problem we wish to solve when we try to construct a rational economic order?

Resolved: Government Spending Can Play an Important Role in Boosting Economic Growth. 

An old Polish soldier who had settled in London after World War II exposed me to the teachings of Hayek when I was sixteen years old.

David Graeber's new book allegedly destroys the standard account of the origin of money. If correct, Graeber's views would prove embarrassing to the Austrian School, because it was Carl Menger who developed the first systematic explanation for how people went from barter to a full-blown monetary economy.

Adam Smith was able to sweep the field, while Cantillon and Turgot, who were far superior as technical economists and freedom champions, languished.

The knowledge that human action is purposeful action has nothing to do with psychology.

A liberal society comes about when Crusoe and Friday peacefully cooperate to perform feats of labor.

His life was devoted to a search for truth, and he gladly shared his findings with any seeker of light.