Posted here:
So, these Austrian guys, from what I remember, are uber-free market capitalists and are a strong intellectual foundation for the modern day Libertarian movement. The guy who was giving the lecture was a prominent economist of the Austrian school himself, he’s called Murray Rothbard. The talk is really lively and entertaining and I love the way the guy talks, he just has everything together in his head. The content of the talk itself centered on the on the the life of von Mises and Hayek and how they developed their theories in Europe and how they finally got to the US and got support there.
It all got me thinking about how we learnt about them in Colander’s class. I knew a bit about Hayek and his theory about how socialism would never work because only through markets can the vast amounts of information required about the resource allocation problems of an entire society be processed naturally and efficiently. But I only remembered Mises as a passing reference. But apparently he was the intellectual father of the Austrian school...
