History of Economic Thought

Friday, June 7th, 2019

Money creation was far from excessive in the 1920s. More significant factors leading to the Great Depression include the monetary contraction that began in 1929 and the French repatriation of gold that started in 1927.

Thursday, June 6th, 2019

When Professor Stiglitz says that his neo-socialism is the only alternative to the failed neo-liberalism of our time, he is merely saying: let me impose upon you the economic planning schemes that I consider the good, fair, and just ones for you, in place of those other command-economy coercers who want to take you down “wrong” collectivist paths compared to mine.

Wednesday, May 29th, 2019

The video AIER is putting together with the highest professional standards seeks to present both their views fairly and accurately but in a way that it is entertaining and informative. It will inspire further study and a real dedication to ideas.

Tuesday, May 28th, 2019

Because economics is more complex than most of what’s studied in the natural sciences, no set of rules of inquiry will ever fully eliminate the need for judgment calls by the researcher. And judgment calls are where our biases truly have teeth.

Tuesday, May 14th, 2019

Why does untruthful scholarship so often take root, and even become a “consensus” interpretation despite its factual deficiencies?

Friday, May 10th, 2019

Hayek worked in the context of the near death of civilization in the world wars, near-universal enthusiasm for socialism among the intellectuals, and repeated exhortations in the face of periodic economic troubles that this time really was the Final Crisis of Capitalism.

Wednesday, April 17th, 2019

One lesson you should take from that is that as much as this sounds like the takeaway point from a bad high school commencement address, the end of your formal schooling is just the beginning of a life of sustained inquiry.

Tuesday, April 9th, 2019

The conceptual breakdown of revolution/counterrevolution is vastly better than any modern typology that too often distracts from the key issue: the place of power in our lives.

Wednesday, April 3rd, 2019

Hayek still speaks to us today about the nature of democratic ways of relating to the rule of law, the structure of government, the role of public policy, and the promise of an international order of cosmopolitan liberalism.

Friday, March 29th, 2019

By conflating the macroeconomics of Keynes with macroeconomics, we run the danger of discarding the contributions that Keynes himself inherited.

Wednesday, March 20th, 2019

Edward C. Harwood (1900-1980) is one of the 20th century’s most eloquent and effective voices for economic science, sound money, and market freedom. This is the story of his life and work.

Sunday, March 17th, 2019

The eco-fascist screed from the New Zealand murder comes across as crude and low-level, the wild ramblers of a trash-talking 20-something raised on 4chan, 8chan, and the most hateful parts of the Internet. It was not always so. Men with the same views, much more sophisticated in expression but just as violent in effect, once came from the Ivy League, occupied the highest levels of social and professional achievement right here in the U.S., and remained heroes of “Progressivism” for many decades after the Second World War.

Tuesday, March 5th, 2019

Neither consumers of expert opinion nor experts themselves will ever fully transcend their biases, nor should they. But when experts disagree, it behooves us to avoid as best we can hunkering down into black-and-white thinking that conveniently accommodates those preexisting biases.

Monday, March 4th, 2019

This great variety of influential books testifies to the richness of the libertarian scholarly tradition. It’s filled with remarkable works of scholarship that are not (yet) as widely known and read as they deserve to be.

Monday, February 25th, 2019

AIER is pleased to present the first English translation of Friedrich von Wieser's memorial appreciation of Carl Menger, the founder of the Austrian School, published in German not long after Menger’s passing in 1921. Wieser (1851-1926) was one of the leading contributors in the “second generation” of the Austrian School of Economics. 

Tuesday, February 19th, 2019

Is there an ethical case to remove the Karl Marx monument from London's Highgate Cemetery on account of its Bolshevik connections?

Wednesday, February 13th, 2019

What is the strongest objection to the idea of liberty, markets, and a self-managing society? We’ve been subjected to vast numbers of them recently. Which is most compelling?

Tuesday, January 15th, 2019

This is a slipshod attempt to taint and tarnish the reputation of one of the leading economists of the 20th century, and one of the most consistent and outspoken defenders of the classical liberal ideal of political, social and economic liberty and the free society.  

Tuesday, January 1st, 2019

Designing a game economy is more art than science, and testifies to the Hayekian notion that economics demonstrates how little we know about what we imagine we can design.

Friday, December 14th, 2018

While Karl Marx has served as the supplier of the political slogans, the economist Michal Kalecki has provided the guidelines for the actual policy in many parts of the world.