On Keynes's book has been founded a new economic church, completely furnished with all the properties proper to a church, such as a revelation of its own, a rigid doctrine, a symbolic language, a propaganda, a priestcraft, and a demonology.
For a while the postwar ideological climate seemed to be the same as during the war: internationalism, statism, adulation of economic planning and the centralized state, were rampant everywhere.
Like many others, Mises anticipated the outbreak of World War I years in advance. Unlike many others, he dreaded it.
Out of false theories of employment, money, and interest, Keynes has distilled a fantastically wrong theory of capitalism and of a socialist paradise erected out of paper money.
It was his melancholy good fortune to come upon the scene when the world went in for arms on an unprecedented scale and it was he who, more than any other man, developed the international market for arms.
In earlier days, the government employee was held to be a man who could not have made his way in the business world and was therefore tolerated with condescension.
The core concepts of contemporary Austrian economics—human action, means and ends, subjective value, marginal analysis, methodological individualism—all flow from Menger's pathbreaking work.
Churchill was from first to last a Man of the State, of the welfare state and of the warfare state. Churchill never had a principle he did not in the end betray.
In this newly translated tribute to Mises on the occasion of his 70th birthday, Hans Mayer praises Mises as an accomplished scholar, despite Mayer's misgivings about Mises's policy.
In that epoch of virtually unchallenged Keynesian ascendancy, Hutt's work was a beacon for those who defended the truth that economics is about the choices and actions of real human beings.
