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Murray Rothbard Murray Newton Rothbard (March 2, 1926 – January 7, 1995) was an American economist , historian , and political theorist . His work, which refers extensively to Austrian School economist Ludwig von Mises , has profoundly influenced the American libertarian movement by formulating a body of thought Rothbard called " anarcho-capitalism " or free-market anarchism . [ 2 ] [ 3 ] [ 4 ] [ 5 ] Rothbard wrote more than twenty books and is considered a central figure in the American libertarian movement. [ 6 ]
Henry Stuart Hazlitt (November 28, 1894 – July 9, 1993) was an American journalist who wrote about business and economics for such publications as The Wall Street Journal, The Nation, The American Mercury, Newsweek, and The New York Times. He is widely cited in both libertarian and conservative circles. Biography Henry Hazlitt was born in Philadelphia, Pennsylvania and raised in Brooklyn, New York. He was a collateral descendant of the British essayist William Hazlitt, but grew up in relative poverty, his father having died when Hazlitt was an infant. Henry Hazlitt
Austrian School The Austrian School is a school of economic thought that is based on the analysis of the purposeful actions of individuals (see methodological individualism). It originated in late-19th and early-20th century Vienna with the work of Carl Menger, Eugen von Böhm-Bawerk, Friedrich von Wieser, and others. Current-day economists working in this tradition are located in many different countries, but their work is referred to as Austrian economics. Among the theoretical contributions of the early years of the Austrian School are the subjective theory of value, marginalism in price theory, and the formulation of the economic calculation problem, each of which has become an accepted part of mainstream economics. Many economists are critical of the current-day Austrian School and consider its rejection of econometrics, and aggregate macroeconomic analysis to be outside of mainstream economic theory, or "heterodox.
Carl Menger (German: [ˈmɛŋɐ]; February 23, 1840 – February 26, 1921) was the founder of the Austrian School of economics. Menger contributed to the development of the theory of marginal utility, which contested the cost-of-production theories of value, developed by the classical economists such as Adam Smith and David Ricardo. Biography Carl Menger
Eugen Böhm Ritter von Bawerk (German: [bøːm ˈbaːvɛʁk]; born Eugen Böhm; February 12, 1851 – August 27, 1914) was an Austrian economist who made important contributions to the development of the Austrian School of economics. He was the Austrian Minister of Finance intermittently from 1895–1904, and also wrote a series of extensive critiques of Marxism. Biography Eugen von Böhm-Bawerk
Foundations of Economics Earlier today while surrounded by women President Obama again demonstrated his fondness for governing by dictate and signed two executive orders designed to force federal contractors to pay women as much as men for equal work.One prohibits government contractors from punish workers who talk about their wages. The second ordered contractors to compensation data based on sex and race to the federal government. The move is obviously designed to shore up his electoral base among women voters. President Obama's rhetorical justification for added more labor market regulations is that full-time working women still earn 77 cents to every dollar earned by men.
Ludwig Heinrich Edler von Mises (German: [ˈluːtvɪç fɔn ˈmiːzəs]; 29 September 1881 – 10 October 1973) was a philosopher, Austrian School economist, sociologist, and classical liberal. He became a prominent figure in the Austrian School of economic thought and is best known for his work on praxeology, a study of human choice and action. Fearing a Nazi takeover of Switzerland, where he was living at the time, Mises immigrated to the United States in 1940. Ludwig von Mises
Friedrich August von Hayek CH (German: [ˈfʁiːdʁɪç ˈaʊ̯ɡʊst ˈhaɪ̯ɛk]; 8 May 1899 – 23 March 1992), born in Austria-Hungary as Friedrich August von Hayek and frequently known as F. A. Hayek, was an Austrian, later British, economist and philosopher best known for his defense of classical liberalism. In 1974, Hayek shared the Nobel Memorial Prize in Economic Sciences (with Gunnar Myrdal) for his "pioneering work in the theory of money and economic fluctuations and ... penetrating analysis of the interdependence of economic, social and institutional phenomena". Hayek was a major political thinker of the twentieth century, and his account of how changing prices communicate information which enables individuals to coordinate their plans is widely regarded as an important achievement in economics. Hayek served in World War I and said that his experience in the war and his desire to help avoid the mistakes that had led to the war led him to his career. Friedrich Hayek