Murray Rothbard had long dreamed of an Austrian academic journal. In 1986, his dream came true. The Mises Institute published it, and it changed everything. The Austrians could focus on internal development, highlight the contrast with the mainstream, and show their wares to the profession and the world at large.
Rothbard was an exacting editor, and results are spectacular and historic.
The individual issues have been nearly impossible to find, until now. Today you can own the entire set as digital books, learn from the pioneering articles that Murray and his co editors saw as crucial, and see what gave the modern Austrian movement its scholarly momentum.
In 1986, a remarkable party was held on Murray Rothbard's sixtieth birthday, and papers written in his honor were presented. Two years later the book was released. It contained many wonderful essays--both scholarly and humorous--on his work and life. At last it is back in print. Essays by Armentano, Arnold, Block, Christiansen, Garrison, Hoppe, Kirzner, North, Pasour, Ron Paul, Ellen Paul, Yeager, Den Uyl, Gordon, Machan, Jeffrey Paul, Holcombe, Osterfeld, Ekirch, Raico, Richman, Doenecke, Kephart, McCaffrey -- and JoAnn Rothbard as well as Margit von Mises (yes, she was there!)
History comes alive in this fascinating story of opposing views that continue to play a fundamental role in today's politics and economics. "The Big Three in Economics" traces the turbulent lives and battle of ideas of the three most influential economists in world history: Adam Smith, representing laissez faire; Karl Marx, reflecting the radical socialist model; and John Maynard Keynes, symbolizing big government and the welfare state. Each view has had a significant influence on shaping the modern world, and the book traces the development of each philosophy through the eyes of its creator. In the twenty-first century, Adam Smith's "invisible hand" model has gained the upper hand, and capitalism appears to have won the battle of ideas over socialism and interventionism. But author Mark Skousen shows that, even in the era of globalization and privatization, Keynesian and Marxian ideas continue to play a significant role in economic policy.
“Excellent . . . I highly recommend this book.” —RON PAUL
Why is the boom-and-bust cycle so persistent? Why did economists fail to predict the economic meltdown that began in 2007—or to pull us out of the crisis more quickly? And how can we prevent future calamities?
Mainstream economics has no adequate answers for these pressing questions. To understand how we got here, and how we can ensure prosperity, we must turn to an alternative to the dominant approach: the Austrian School of economics.
Unfortunately, few people have even a vague understanding of the Austrian School, despite the prominence of leading figures such as Nobel Prize winner F. A. Hayek, author of The Road to Serfdom. Harry C. Veryser corrects that problem in this powerful and eye-opening book. In presenting the Austrian School’s perspective, he reveals why the boom-and-bust cycle is unnatural and unnecessary.
Veryser tells the fascinating (but frightening) story of how our modern economic condition developed. The most recent recession, far from being an isolated incident, was part of a larger cycle that has been the scourge of the West for a century—a cycle rooted in government manipulation of markets and currency. The lesson is clear: the devastation of the recent economic crisis—and of stagflation in the 1970s, and of the Great Depression in the 1930s—could have been avoided. It didn’t have to be this way.
Too long unappreciated, the Austrian School of economics reveals the crucial conditions for a successful economy and points the way to a free, prosperous, and humane society.
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