Austrian School of Economics: Revisionist History and Contemporary Theory
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Austrian School of Economics: Revisionist History and Contemporary Theory
Joseph T. Salerno presents a series of ten formal lectures on topics related to the history and theory of the Austrian School of Economics. Download the complete audio of this event (ZIP) here.
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10 episodes
Forerunners of the Austrian School: The French Liberal School
The French Liberal School had been dominant through four generations because they were privately funded, but when the government intervened in the Fre...
10. The Gold Standard in Theory and Myth
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...
9. Money and Gold in the 1920s and 1930s: Defending the Rothbardian Position
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. Rothbar...
8. The Debate on the Socialist Calculation Debate
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 syst...
7. The Political Economy of the Chicago School: Libertarian or Jacobin?
The founder of the Chicago School, Frank Knight, was an avowed egalitarian. Rousseau was his influence. Jacobins believed in mass democracy and politi...
6. Keynes and the 'New Economics' of Fascism
Monetary inflation is the key way to bring about economic fascism. Fascism was a spending, borrowing government, militarism, imperialism, and a planne...
5. Modern Monetary Theory: The Austrian Contribution
Monetary theory is where Austrians diverge the most from mainstream. Mises built a new taxonomy of money. He said money included any checking account...
4. The Theory of Monopoly Price: From Menger to Rothbard
Prior to Mises there had been nothing written on the theory of monopoly price. Mises felt there could be some limited times of monopoly on the free ma...
3. The Revival of the Austrian School: Mises and Rothbard
There were reasons for the decline of the Austrian School before its revival and rebirth by Mises and Rothbard. There was an Israel Kirzner view in th...
2. The Origin and Decline of the Austrian School: Menger, Böhm-Bawerk, and Wieser
Where the classical economists had gone wrong was to speak of goods as if they were abstract classes. The Austrians noted that their value theory did...