History of the Austrian School of Economics

Fetter saw "economics as essentially the study of value, and has viewed all economic phenomena as the concrete expression, under varied circumstances, of one uniform theory of value.

 Austrians have sometimes been very hard on Lord Robbins. He at one time embraced the views of Mises and Hayek; and in The Great Depression, he presented a resolutely Austrian theory of the business-cycle.

On the 50th anniversary of its publication, the 1st edition is re-released with a new introduction, expanded index, and spectacular production values.

The meaning of his life and contributions.

In this year of Millennium Lists ("Best Ten Songs of the Millennium," etc.), the Wall Street Journal tried its hand at the ten economists--whom it called the "best and brightest"--who have "made a difference" in the last thousand years. Of course, the big problem in twentieth-century intellectual history is that the "best and the brightest" were not the ones who "made a difference." While the list did contain some names to cheer (Aquinas, Hayek, and Schumpeter) it also had plenty to boo (Marx, Keynes, and Veblen).

In 1949, freedom had no future.

The perils of Social Security reform.

How Mises's Human Action came to be written.

Carl Menger set economic science on a new course.

Have another look at that subtitle. It suggests that readers of Foundations of Austrian Economics are in for a long haul, and I fear that expectation is correct.