Related Research Articles
The Austrian School is a heterodox school of economic thought that advocates strict adherence to methodological individualism, the concept that social phenomena result exclusively from the motivations and actions of individuals. Austrian school theorists hold that economic theory should be exclusively derived from basic principles of human action.
The economic calculation problem is a criticism of using economic planning as a substitute for market-based allocation of the factors of production. It was first proposed by Ludwig von Mises in his 1920 article "Economic Calculation in the Socialist Commonwealth" and later expanded upon by Friedrich Hayek.
Friedrich August von Hayek, often referred to by his initials F. A. Hayek, was an Austrian-British economist and political philosopher who made contributions to economics, political philosophy, psychology, intellectual history, and other fields. Hayek shared the 1974 Nobel Memorial Prize in Economic Sciences with Gunnar Myrdal for work on money and economic fluctuations, and the interdependence of economic, social and institutional phenomena. His account of how prices communicate information is widely regarded as an important contribution to economics that led to him receiving the prize.
Murray Newton Rothbard was an American economist of the Austrian School, economic historian, political theorist, and activist. Rothbard was a central figure in the 20th-century American libertarian movement, particularly its right-wing strands, and was a founder and leading theoretician of anarcho-capitalism. He wrote over twenty books on political theory, history, economics, and other subjects.
Ludwig von Mises Institute for Austrian Economics, or Mises Institute, is a nonprofit think tank focused on libertarianism and Austrian economics headquartered in Auburn, Alabama, United States. It is named after the economist Ludwig von Mises (1881–1973). It promotes heterodox Misesian economics and has been a center for radical libertarian thought and the right-wing paleolibertarian and anarcho-capitalist movements in the United States.
Armen Albert Alchian was an American economist. He spent almost his entire career at the University of California, Los Angeles (UCLA). A major microeconomic theorist, he is known as one of the founders of new institutional economics and widely acknowledged for his work on property rights.
Richard M. Ebeling is an American libertarian author who was the president of the Foundation for Economic Education (FEE) from 2003 to 2008. Ebeling is currently the BB&T Distinguished Professor of Ethics and Free Enterprise Leadership at The Citadel in Charleston, South Carolina.
The Austrian business cycle theory (ABCT) is an economic theory developed by the Austrian School of economics about how business cycles occur. The theory views business cycles as the consequence of excessive growth in bank credit due to artificially low interest rates set by a central bank or fractional reserve banks. The Austrian business cycle theory originated in the work of Austrian School economists Ludwig von Mises and Friedrich Hayek. Hayek won the Nobel Prize in Economics in 1974 in part for his work on this theory.
Jesús Huerta de Soto Ballester is a Spanish economist of the Austrian School. He is a professor in the Department of Applied Economics at King Juan Carlos University of Madrid, Spain and a Senior Fellow at the Mises Institute.
Lawrence Henry White is an American economics professor at George Mason University who teaches graduate level monetary theory and policy. He is considered an authority on the history and theory of free banking. His writings support the abolition of the Federal Reserve System and the promotion of private and competitive banking.
Ludwig Heinrich Edler von Mises was an Austrian-American Austrian School economist, historian, logician, and sociologist. Mises wrote and lectured extensively on the societal contributions of classical liberalism and the power of consumers. He is best known for his work on praxeology studies comparing communism and capitalism.
The Center for Libertarian Studies (CLS) was a libertarian and anarcho-capitalist oriented educational organization founded in 1976 by Murray Rothbard and Burton Blumert, which grew out of the Libertarian Scholars Conferences. That year, the conference was sponsored by industrialist and libertarian Charles Koch. It published the Journal of Libertarian Studies from 1977 to 2000, a newsletter, several monographs, and sponsors conferences, seminars, and symposia.
This is the chronological list of books by the Austrian school economist and philosopher Friedrich Hayek. The dates in brackets are the original year of publication of the book.
In Austrian business cycle theory, malinvestments are badly allocated business investments resulting from artificially low interest rates for borrowing and an unsustainable increase in money supply. Central banks are often blamed for causing malinvestments, such as the dot-com bubble and the United States housing bubble. Austrian economists such as F. A. Hayek advocate the idea that malinvestment occurs due to the combination of fractional reserve banking and artificially low interest rates sending out misleading relative price signals which eventually necessitate a corrective contraction – a boom followed by a bust.
Throughout modern history, a variety of perspectives on capitalism have evolved based on different schools of thought.
Richard von Strigl (1891–1942) was an Austrian economist. He was considered by his colleagues one of the most brilliant Austrian economists of the interwar period. As a professor at the University of Vienna he had a decisive influence on F. A. Hayek, Fritz Machlup, Gottfried von Haberler, Oskar Morgenstern and other fourth-generation Austrian economists.
Kevin Dowd is a British economist, having research interests in private money and free banking, monetary systems and macroeconomics, financial risk measurement and management, risk disclosure, political economy and policy analysis, and pensions and mortality modelling. As of this date, he is a partner in Cobden Partners based in London, and Professor of Finance and Economics at Durham University Business School.
Norman Patrick Barry was an English political philosopher best known as an exponent of classical liberalism. For much of his career he was a professor of social and political theory at the University of Buckingham.
Larry James Sechrest was an American economist who advocated the ideas of the Austrian School. He was a professor of economics at Sul Ross State University and was director of the university's Free Enterprise Institute.
Jörg Guido Hülsmann is a German-born economist who studies issues related to money, banking, monetary policy, macroeconomics, and financial markets. Hülsmann is professor of economics at the University of Angers’ School of Law, Economics, and Management.
References
- ↑ "Authors Ivo Mosley". Cobden centre.
- ↑ "Authors Keith Weiner". Cobden centre.
- ↑ Jesús Huerta de Soto. "Economic Recessions, Banking Reform and the Future of Capitalism". cobdencentre.org.
- ↑ "Viewpoint: Why bailouts are bad". BBC News. 5 October 2011.
- ↑ The Christian Science Monitor (8 October 2010). "Free trade vs. state aid". The Christian Science Monitor.
- ↑ "This Saturday – Cobden Partners presentations to OccupyLSX". occupylondon.org.uk.