austrian economics

We are living in a world of the anti-liberal counter-attack against individual liberty, free markets and limited government.

Fifty years ago, in 1968, Austrian (and Austrian school) economist Friedrich A. Hayek published a monograph called The Confusion of Language in Political Thought.

It is a bit jarring for me to point to economist, political theorist, and historian Murray Rothbard (1926–1995) as an example of American exceptionalism.

Austrian school economist Edmund Contoski has written a welcome addition to his 2012 explanation of the inevitable consequences of forcing fiat money on society.

Ludwig von Mises’s majestic magnum opus, Human Action: A Treatise on Economics, was published on September 14, 1949. In the nearly seven decades since its appearance, Human Action has come to be recognized as one of the truly great classics of modern economics.

Almost everyone outside the world of the Austrian School of Economics unquestionably assumes that the regulation of so-called “natural monopoly utilities” is both fair and necessary as well as efficient and effective. This is — to borrow a buzz word from the Left — “unsustainable,” in both theory and practice.

Seventy years ago this month, on March 10, 1944, “The Road to Serfdom” by Friedrich A. Hayek was first published in Great Britain. For seven decades it has continued to challenge and influence the political-economic landscape of the world. Hayek delivered an ominous warning that political trends in the Western democracies, including America, were all in the direction of a new form of servitude that threatened the personal and economic liberty of the citizens of these countries.

A truly free market economy is one that tends to have the “good deflation,” and we should look forward to it.

The pilot episode of Mr. Selfridge clearly indicates an awareness of and respect for both the greatness and shortcomings of market capitalism.

Some folks at The Heartland Institute’s home office thought my little email exchange about Keynesian vs. Austrian economics, the Federal Reserve, etc., with Dick Ewing of Winthrop, Wash., worth publishing…