, Senior Fellow
Pace University, Professor of Economics
A Fairy Tale of the Austrian Movement
, Mises Daily
, 25 Sep 2007
Review of Brian Doherty's Radicals for Capitalism
, in particular of the section in chapter 7 where Peter Boettke discusses Austrian economics
"So Boettke's declaration that Austrians do not talk about 'public finance' is superficially true but erroneous ... when one considers the matter in more depth. ... no one with the slightest acquaintance with Austrian economics would deny that Austrian economists have written a great deal about the nature and consequences of government spending, deficits, and taxation. ... from the standpoint of Austrian economics, taxation and government resource-using activities are on all fours with other types of government intervention and are therefore dealt with in the theory of interventionism."
Biography of Carl Menger: The Founder of the Austrian School
Biographical and bibliographical essay, discussing his life and work and delving into various aspects of Austrian economic theory as presented by Menger
"Despite the many illustrious forerunners in its six-hundred year prehistory, Carl Menger (1840-1921) was the true and sole founder of the Austrian school of economics proper. He merits this title if for no other reason than that he created the system of value and price theory that constitutes the core of Austrian economic theory. ... This then is Menger's greatest achievement and the essence of his 'revolution' in economics: the demonstration that prices are no more and no less than the objective manifestation of causal processes purposefully initiated and directed to satisfying human wants."
It Usually Ends With Murray Rothbard: My Long and Winding Road to Libertarianism and Austrian Economics
, 23 Jun 2005
Autobiographical, recounts Prof. Salerno's progression from conservatism to anarcho-capitalism, from classical to Austrian economics, and meeting Murray Rothbard
"Mr. Mautner assigned us to read ... parts of Adam Smith's Wealth of Nations. ... I was enthralled by Smith's straightforward and non-moralizing analysis of the free market economy and its social benefits. It dawned on me that economics offered a scientific argument for the free society that complemented the moral argument in its favor."
Money and Gold in the 1920s and 1930s: An Austrian View
, The Freeman
, Oct 1999
Criticizes Richard Timberlake's Freeman
articles on U.S. monetary policy during 1920-39, contrasting the British Banking School vs. Currency School definitions of inflation
"In consecutive issues of The Freeman, Richard Timberlake has contributed an interesting trilogy of articles advancing a monetarist critique of the conduct of U.S. monetary policy during the 1920s and 1930s. In the first of these articles, Timberlake disputes the late Murray Rothbard's 'Austrian' account of the boom-bust cycle of the 1920s and 1930s. ... Our conclusion, then, is that the Fed's monetary policy, except for very brief periods in 1929 and 1936–1937 when it turned mildly disinflationist, was consistently and unremittingly inflationist in the 1920s and 1930s."
The Mystery of Banking
, The Mystery of Banking
, Sep 2008
Foreword to the 2008 Mises Institute edition
"While it is therefore written in Rothbard's characteristically sparkling prose it does not shy away from a rigorous presentation of the basic theoretical principles ... Rothbard himself was the leading monetary economist in the sound money tradition in the second half of the twentieth century, contributing many of the building blocks to the theoretical structure that he lays out."
The Banks Are Broke
, The Lew Rockwell Show
, 22 Jul 2008
Lew asks Salerno why the entire banking industry is threatened if a big bank is allowed to go bankrupt
Money, Banking and the Federal Reserve
, by Mises Institute
, Ron Paul
, Lew Rockwell
, Murray Rothbard
, Joseph Salerno, 1996
Explains the origins of money and banking, how and why the Federal Reserve was created and the effects it has had on society. Dedicated to Murray Rothbard.