Capital and Interest

The great economist and finance minister of the Austro-Hungarian Empire is a pillar of the Austrian School. As a champion of the new marginalist school, this great work brought him more fame than even Carl Menger had in his day. Here is the original English translation by Scottish economist William Smart, the one that had […]

A Biography of Eugen von Bohm-Bawerk

Eugen von Böhm-Bawerk (Born February 12, 1851; Died 1914) was in the right place at the right time to contribute importantly to the development of Austrian economics. Studying at the University of Vienna, he was twenty years old when Carl Menger‘s Principles of Economics appeared in print in 1871. His formal university training was in law (and thus he was […]

What is Austrian Economics?

Josey’s note: I’m not sure who the actual author to this piece is but I found it at: Ludwig Von Mises web site. The Austrian School The story of the Austrian School begins in the fifteenth century, when the followers of St. Thomas Aquinas, writing and teaching at the University of Salamanca in Spain, sought […]

Investigations into the Method of the Social Sciences

by Carl Menger INTRODUCTION TO THE NEW YORK UNIVERSITY PRESS EDITION It is a rare book in economics that deserves to be translated into English as much as eighty years after its initial publication. The book that actually receives such attention after so many years almost ipso facto qualifies as a classic. 1 Carl Menger‘s Untersuchungen uber die Methode der […]

What Is Classical Liberalism?

by Ralph Raico August 19, 2010 This article originally appeared in American Conservatism: An Encyclopedia, edited by Bruce Frohnen, Jeremy Beer, and Jeffrey O. Nelson (Wilmington, Delaware: ISI Books, 2006), pp. 498—502. “Classical liberalism” is the term used to designate the ideology advocating private property, an unhampered market economy, the rule of law, constitutional guarantees of freedom of […]

A Biography of Bruno Leoni

Among the philosopers of law in the 20th century, Bruno Leoni is the one that most rigorously and consistently held fast to the beliefs of classical liberalism. For this reason, his insights have been uncommonly original and stimulating, challenging the academic conventional wisdom and the most consolidated tenets. Born in Ancona on April 26th 1913, […]

A Biography of Carl Menger

The Founder of the Austrian School (1840-1921) by Joseph T. Salerno “All things are subject to the law of cause and effect. This great principle knows no exception.” INTRODUCTION Despite the many illustrious forerunners in its six-hundred year prehistory, Carl Menger (1840-1921) was the true and sole founder of the Austrian school of economics proper. He […]

Principles of Economics

PREFACE THE IMPARTIAL OBSERVER CAN have no doubt about the reason our generation pays general and enthusiastic tribute to progress in the field of the natural sciences, while economic science receives little attention and its value is seriously questioned by the very men in society to whom it should provide a guide for practical action. […]