Other Schools of Thought

The attack on the principles of the Rule of Law was part of the general movement away from liberalism which began about 1870. It came almost entirely from the intellectual leaders of the socialist movement.

In the 20th century, the US regime started refusing to recognize other regimes that failed to pass a morality test. But what was "moral" was never clear since FDR enthusiastically supported the blood-soaked Soviet regime under Stalin.

"It may well be, that is, that the Bolsheviks had never had the slightest idea of what their aims would mean concretely for the economic life of Russia, how those aims would of necessity have to be implemented, or what the consequences would be."

The standard Austrian approach to air pollution and regulation rejects the bean-counting of winners and losers, and instead embraces a property rights approach.

Unfortunately, some people prefer to attribute the cause of inflation not to an increase in the quantity of money but to the rise in prices.

What makes a good a good is not the physical thing itself, but the value we find in it because it is serviceable toward some valued end.

Roosevelt stands for the national government as we know it today: a vast, unfathomable bureaucratic apparatus.

The late Murray Rothbard has passionate fans and critics alike—but was he really the intransigent person his detractors portray?

A look at the differences between the Austrian School and the "Law & Economics" tradition, with respect to product safety regulation.

The particular crises to which Keynes reacted were themselves the products of misguided government policies.