Based on some of Carl Menger's publications, his estate and archives, this article examines how the Austrian School relates to the thought of Adam Smith. Was Menger an heir of Smith, as Gustav Schmoller, leader of the German Historical School and Menger's arch-enemy, insinuated? Was there indeed...

Early on Sunday morning, February 20, 1955, Friedrich Hayek and his wife Helene arrived at the airport in Cairo, Egypt, where he was greeted by the Director of Research of the National Bank of Egypt, Dr. Nikoli Koestner. Beginning the next evening and over the subsequent days, Hayek gave four...

This paper examines the inflationary episode of 1603 in Spain through the lens of Austrian Economic Theory. The study focuses on the effects of monetary expansion caused by the influx of precious metals from the Americas and its impact on real wages and raw material prices. Through the analysis...

Ludwig Mises' interest in large-scale problems concerning the institutional framework and social as well as economic requirements for a well-functioning economy, makes Mises’ writings on supranational governance particularly interesting. Based on a reading of his German language publications...

Access to high quality microdata is a precondition for the empirical investigation of many interrelationships in the economic and social sciences. Therefore, well-functioning research data infrastructure is a cornerstone of a successful science location. While other countries in Europe, such as...

This essay examines the relationship between Austrian economics and economic history. It notes their different origins as scholarly fields, and divergent trajectories over the course of the twentieth century, before discussing recent examples of cross-fertilization and pointing to areas of...

Economic history has become an increasingly broad discipline, after a temporary narrowing following the cliometric revolution of the mid-twentieth century. Increasingly sophisticated econometric techniques are used to capture the institutional detail involved in the dynamics of historical...

This article examines the role of ideas, tradition, and economic history in the context of F. A. Hayek's theory of social knowledge. While Hayek often emphasized the beneficial consequences of unintended and spontaneous action, his accounts of the transmission of ideas within society identified...

The theory of interventionism argues that government interventions are inherently destabilizing, which in turn helps explain the growth of government. I argue that the theory of interventionism is also useful for explaining the process of economic growth. At first, an intervention reduces living...

In this article I selectively survey the economic history literature on the rise of regulation in America during the Progressive Era with the goal of identifying how this literature is informed by Austrian economic theory, and how Austrian theory might contribute to our understanding of the...

Although many economic and business historians have examined how American railroads colluded to raise rates or limit service, they have paid less attention to the many ways railroads cooperated to exchange cars and freight between companies and build needed interconnections. This article...

While several studies have highlighted the potential and opportunities of digitalisation for EA, few have explored the perceptions of practitioners using a mixed-methods approach. This study took a close look at the role of advanced digital approaches, such as the introduction of artificial...

Friedrich Hayek has been one of the dominating intellectual figures of the 20th century. Hayek, together with Gunnar Myrdal, received the 1974 Nobel Memorial Prize in economics, for "their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the...

For the Austrian School, the problem of efficient allocation of scarce resources is not computational in nature (ability to collect and process data) but economic-entrepreneurial (human assessment and decision around new ends and means of productive activity), and that can only be resolved...

Purpose - In the early 1930s, Nicholas Kaldor could be classified as an Austrian economist. The author reconstructs the intertwined paths of Kaldor and Friedrich A. Hayek to disequilibrium economics through the theoretical deficiencies exposed by the Austrian theory of capital and its...

In the 1950s, Jacques Rueff’s references to social order seem pretty clear: it is not a spontaneous phenomena. Although Rueff is generally seen as a liberal economist, this has prompted commentators to see in his approach something more artificial than Hayek’s own ideas on social order....

Some economists in the Austrian tradition interpret the Arrow Impossibility Theorem (AIT) as support for their laissez-faire standpoint. They presume that the AIT cannot be applied in market settings, but in the context of voting, it adds weight to their arguments against the possibility of...

I examine the history of the concept of spontaneity in philosophy and the social sciences, particularly as it relates to monetary phenomena. I then offer an argument for the general significance of spontaneity. Scholars across the humanities and social sciences, whatever their (disciplinary,...

This paper discusses the unique features of Austrian economics and some of the recent contributions of this school of thought. We organize these contributions in different research “buckets” in the hope that this will be a useful guide to readers while demonstrating the ongoing relevance of...

What is the relevancy of modern Austrian economics? Austrian economics, from its origins, has attempted to push economics towards greater relevance by developing and refining a methodological approach that enhances the operational validity of its scientific conclusions for decision-making in the...

In response to the financial crisis, the Federal Reserve's operating framework shifted to one where changes in the central bank's balance sheet had less of an effect on the stance of monetary policy. This change was brought about by Fed officials' decision to pay interest on excess reserves at a...

The importance of time in production was emphasized by Classical economists and was at the core of the Austrian capital theory proposed by Böhm-Bawerk and further elaborated by Wicksell, Hicks, Dorfman, and many others. A central concept in this literature is the existence of an 'average period...

1. Introduction -- 2. Goods and value -- 3. Exchange and price -- 4. Monopoly and competition -- 5. Production and its structure -- 6. Capital and interest -- 7. Money and its purchasing power -- 8. Inflation and crisis -- 9. State and the market -- 10. Conclusion.