Mises Search

With A Rehabilitation of Say’s Law , Professor William H. Hutt produced a magnificent work that Austrians would love to claim as one of their own, but that Hutt himself viewed as thoroughly classical in nature. The topic addressed here is Say’s law: the view that macroeconomic activity tends toward stability — which is to say, under a free market

Who were the original and most passionate opponents of apartheid in South Africa? The classical liberals, and this book was their most important weapon against the problem of racial injustice. William H. Hutt, an Austro-classical economist in South Africa (later he taught at the University of Dallas), explains that apartheid originated as a

In 1930, W.H. Hutt demonstrated several spectacular points: labor unions cannot lift wages overall; their earnings come at the expense of the consumer; their effect is to cartelize business and reduce free competition to the detriment of everyone. He demonstrated these points with intricate logic that took on the main economic arguments for labor

The classic from the great labor economist W.H. Hutt argues that it is not the strike but the strike threat that makes unions so incredibly costly to American prosperity. It hangs over unionized companies like the sword of Damocles, intimidating property owners into giving into demands at the expense of profitability. “The strike is a form of

Should economists curb their rhetoric and prescriptions based on “political realities”? Should anyone attempt to conceal the truth about state intervention for fear of not fitting into the existing political culture? Many people answer yes to both questions, on grounds that taking a hard-core position in favor of freedom threatens to make one

W.H. Hutt’s Theory of Idle Resources was first published in 1939, surely one of the earliest responses to Keynes’s General Theory. Hutt goes for the heart of Keynes’s prescription for recovery, which was to get idle resources moving, whether that is money, capital, or labor. If something isn’t being employed right now, it is being wasted. Hutt