Austrian Economics Overview / Joseph T. Salerno

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Mises y Hayek diferenciados

BiographiesThe EntrepreneurAustrian Economics OverviewCalculation and KnowledgeEntrepreneurshipPhilosophy and Methodology

07/20/2005Review of Austrian Economics, Volumes 1-10
Hoy, el término "economía austriaca" se utiliza para designar dos paradigmas muy diferentes.


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An Interview with Fritz Machlup

BiographiesAustrian Economics Overview

07/20/2005Austrian Economics Newsletter
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...
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10. The Gold Standard in Theory and Myth

Money and BanksAustrian Economics OverviewGold StandardMoney and Banking

The mythology of gold really grew up with Keynes and the quantity theory. Here are six of those myths: the gold standard is unable to accommodate the needs of an growing economy; the quantity of money is arbitrarily determined; the gold standard is a government price fixing scheme; the gold...
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9. Money and Gold in the 1920s and 1930s: Defending the Rothbardian Position

BiographiesMoney and BanksAustrian Economics OverviewMoney and Banking

Friedman’s book, Monetary History of the United States, tried to show the depression was caused by a deflation of the money supply by the Fed. Rothbard’s America’s Great Depression was published the next year in 1963. Rothbard argued that the Fed was actively inflating the money supply.
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7. The Political Economy of the Chicago School: Libertarian or Jacobin?

Austrian Economics OverviewOther Schools of ThoughtPhilosophy and MethodologyPolitical Theory

The founder of the Chicago School, Frank Knight, was an avowed egalitarian. Rousseau was his influence. Jacobins believed in mass democracy and politics as the only way to implement their ideas. They hated aristocrats and religious leaders. Knight believed in progressive taxation. He wanted neocon...
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8. The Debate on the Socialist Calculation Debate

Austrian Economics OverviewCalculation and KnowledgeOther Schools of ThoughtPhilosophy and Methodology

The debate still continues. It is all about Mises’ initial article and then book on Socialism in 1922. He demonstrated the necessity of the price system and showed how subjective values were transformed into objective prices which could be used as meaningful cardinal numbers in economic calculation.
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6. Keynes and the 'New Economics' of Fascism

BiographiesAustrian Economics OverviewOther Schools of ThoughtPolitical Theory

Monetary inflation is the key way to bring about economic fascism. Fascism was a spending, borrowing government, militarism, imperialism, and a planned economy. Keynes’ followers came to power in the 60s with the Kennedy administration. Nixon went on to impose wage and price controls.
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