History of Economic Thought

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.

Friday, December 14th, 2018

Canadian “robber barons” were exactly like the American robber barons: largely a myth.

Monday, December 10th, 2018

Neoliberalism is one of academia's trendiest boogiemen. Do historians have the wrong origin story?

Sunday, November 25th, 2018

Harwood could not remain silent and still call himself a man of honor. He established AIER in response, an institution dedicated to the fight for integrity, sound money, and free markets. The confrontations with Washington continued over the decades.

Tuesday, November 20th, 2018

By making these lost Spooner treatises available again after more than a century in seclusion, it is my hope that they will both further our historical understanding of the time in which they were written and offer relevant insights to the evolution of economic ideas in the present day.

Tuesday, November 20th, 2018

This remarkable book was published in 1932. E.C. Harwood’s ideas about inflation and the business cycle have relevance for our knowledge and for policy discussions today.

Wednesday, November 14th, 2018

That the President's words were just passed over without comment or criticism tragically shows how far we’ve strayed from the ideas and ideals on which the country was founded.

Sunday, November 11th, 2018

American politics today seems ever more a contest between two forms of state control – progressive/socialist and nationalist/fascist – with both sides deploying populist states of mass agitation with the hope of deploying power to achieve their ends. Where are the liberals? Not many even claim the label.

Tuesday, November 6th, 2018

Classical liberals and libertarians consider that their defense and insistence upon a principled practice of individual liberty and competitive free markets is no less of a moral necessity and calling than earlier demands for ending infringements on personal and social freedom that were widely taken for granted.

Friday, November 2nd, 2018

An amazing book appeared before FDR was elected that explained all economic events, using sound economic logic and evidence. The crash, this book said, was the result of monetary mismanagement by the Federal Reserve and distorted price and interest rate signals.

Friday, November 2nd, 2018

Economists are often asked to render economic advice to foreign nations. Sometimes these countries are ruled by dictators. That presents a moral quandary.

Thursday, October 25th, 2018

Bagehot’s rules are ultimately geared toward assisting illiquid financial organizations but allowing insolvent ones to fail. The Fed went out of its way to support insolvent organizations.

Tuesday, October 23rd, 2018

Most human knowledge is tacit, the product of experience and not capable of being captured in words or numbers, and local, concerned with and relevant to specific local conditions and circumstances.

Wednesday, October 10th, 2018

Ten years after the 2008 financial crisis, economists are beginning to assess the lessons learned. Sometimes we learn the right lessons. Sometimes we learn the wrong lessons.