Introduction to A History of Money and Banking in the United States: The Colonial Era to World War II by Murray N. Rothbard (Auburn: Mises Institute, 2002), pp. 7-44. Available as PDF
“All things are subject to the law of cause and effect. This great principle knows no exception.” INTRODUCTION Despite the many illustrious forerunners in its six-hundred year prehistory, Carl Menger (1840-1921) was the true and sole founder of the Austrian school of economics proper . He merits this title if for no other reason than that he
Hans Sennholz (February 3, 1922 - 23 June 2007), professor at Grove City College, was one of a handful of men in intellectual history who were able to perform both of these functions with notable distinction. J. B. Say, Frederic Bastiat, Carl Menger, Eugen von Böhm-Bawerk, Edwin Cannan, the early Lionel Robbins, Henry Hazlitt, William Hutt, Murray
Austrian Economics Newsletter , Vol 3, No. 1, Summer 1980. Fritz Machlup’s contributions to economics span a period of over 45 years. Born in 1902 in Wiener Neusstadt, Austria, he published his first book Die Goldkernwahrung (The Gold Exchange Standard) in 1925, the outgrowth of a dissertation written under the supervision of Ludwig von Mises at
The 26 essays collected in this book were published over the last three decades in a variety of academic journals, scholarly books, policy-report series, and periodicals aimed at the nonspecialist. Several were originally published in electronic periodicals. They share a common theme despite the fact that they were written at different times and
Since it began operations in 1914 the Federal Reserve System (”the Fed”) has presided over a relentless decline in the value of the US dollar. Prices increased in 83 of the 97 years of the Fed’s existence. Over the last 60 years, beginning in 1950, prices rose in 58 of them. As a result the cumulative loss of the dollar’s buying power during the
The April 1999 issue of The Freeman includes this astonishing claim in Richard Timberlake’s article “Money in the 1920s and 1930s” (pp. 37-42): “Many Austrian economists believe that [the Great Depression] started with a central bank ‘inflation’ in the 1920s... The late Murray Rothbard was the chief proponent of this argument. Rothbard’s problem
Joseph Salerno, senior fellow of the Mises Institute and author of “Ludwig von Mises as a Social Rationalist” ( read in .PDF ), among many other articles, teaches economics at Pace University. At the most recent Mises University, he spoke about the implications of the “Blair Witch Project” for the theory of entrepreneurship. With the film now out
The historical embodiment of monetary freedom is the gold standard. The era of its greatest flourishing was not coincidentally the 19th century, the century in which classical liberal ideology reigned, a century of unprecedented material progress and peaceful relations between nations. Unfortunately, the monetary freedom represented by the gold
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.
