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History is not what we are taught. Here is a book that will turn everything you learn about economic thoughts on its head. It all did start with the Greeks, but Chinese, Catholics, Spanish Scholastics, medieval Europeans, the modern nation states all witnessed the ebb and flow of ideas about economic freedom - clearly it was no one-way progress. Adam Smith paved the way for Marxism. There is more startlingly detailed and extensive discussion about what went through the ancient minds.
To read a comprehensive, original, revealing, detailed, and well-argued discussion about economic thinking from ancient Greece to the 20th century.
Dishes - Vol 1, 2, 3 (Audio/Transcript) Chops - Book Reviews and Background
This is one of Rothbard’s most important scholarly works. In the first volume, Rothbard traces the history of economics from the ancient Greeks to Adam Smith; and in the second volume, he discusses British classical economics, the French school of classical liberalism, and Marxism.
Rothbard rejects the Whig view, according to which the history of economics is a story of constant progress. To the contrary, he sees economics as a battle between two conflicting schools of thought. The correct one explains prices through subjective value: this approach culminates in the Austrian School. The other view explains prices by cost, especially labor cost.
This is one of Rothbard’s most important scholarly works.
Audio files and one PDF transcript.
It’s a tragedy Rothbard died in 1995, before he could finish his History of Economic Thought series. At the time of his death, he had only published volumes I and II. However, as noted in the Mises store entry for Vol. III, The History of Economic Thought: From Marx to Hayek, although he “died before he could write his third volume of his famous History of Economic Thought that would cover the birth and development of the Austrian School, through the Keynesian Revolution and Chicago School,” “he had already mapped out the entire project.” And, it turns out: it’s on tape!
It's a tragedy Rothbard died in 1995, before he could finish his History of Economic Thought series. At the time of his death, he had only published volumes I a
History is not an inevitable march upward, as concluded in the 1830s. That determinist view put the stamp of approval on everything past and present. It permeates economic history. It ignores the great moral choices. History is a race between state power and social power.
The roots of Marxism were in messianic communism. Marx’s devotion to communism was his crucial point. Violent, worldwide revolution, in Marx’s version made by the oppressed proletariat, would be the instrument of the advent of his millennium, communism.
Richard Cantillon was quite Misesian before Mises. He wrote of utility theory and the entrepreneur’s uncertainty in the 1970s. Cantillon was a great money practitioner. He became a bank and banker to the Jacobite Stuart line and to John Law who launched paper money inflation.
Carl Menger, 1840-1921, founded Austrian economics. Eugen von Bohm-Bawerk was the most important student. Weiser was his brother-in-law, but was fairly pre-Keynesian. Mises was the great successor to Bohn-Bawerk.
Desserts References and More
Those who have been teaching the history of economic thought for enough years to be satisfied with their syllabus should approach Murray Rothbard’s two-volume history of economic thought with extreme caution. It might compel a costly syllabus revision. That was certainly a large part of the author’s intention.
Economic Thought Before Adam Smith (Large Print Edition): An Austrian Perspective on the History of Economic Thought, Volume 1 [Murray N. Rothbard] on Amazon.com. *FREE* shipping on qualifying offers. LARGE PRINT EDITION! More at LargePrintLiberty.com Here is the last masterpiece by Murray N. Rothbard (1926-1995)
‘. . . no review can do justice to the scores and scores of insights and scholarly discoveries in this volume. . . . Murray Rothbard’s two volumes are a monument of twentieth century scholarship.’
– David Gordon, The Mises Review
‘. . . the magnitude of Rothbard’s achievement was such that his legacy is assured; his contribution to the cause of liberty in America will not only endure but continue to grow in stature. As an economist, he succeeded in firmly establishing the Austrian school o
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