Freedom Circle logo
Freedom Circle

Where Can You Find Freedom Today?

American professor of economics
Leland B. Yeager

Leland Bennett Yeager (4 November 1924 – 23 April 2018) was an American economist and an expert on monetary policy and international trade.


4 Nov 1924, in Oak Park, Illinois


23 Apr 2018, in Auburn, Alabama


Cato Institute, Adjunct Scholar
Independent Institute, Research Fellow
Mises Institute, Associated Scholar

Web Pages

Leland B. Yeager - Online Library of Liberty
Includes short profile and links to some of Yeager's works
Leland Yeager is Ludwig von Mises Professor of Economics, Emeritus, at Auburn University.


Austrian "Inflation," Austrian "Money," and Federal Reserve Policy, by Richard H. Timberlake, The Freeman, Sep 2000
Response to Joseph Salerno's Oct 1999 The Freeman article which critiqued Timberlake's essays in the April, May and June 1999 issues; discusses the words "inflation" and "money" and Federal Reserve policies, in an Austrian economics context
More than 30 years ago in a path-breaking article, Leland Yeager ... noted that "many definitions of money can be self-consistent. But no mere definition should deter us, when we are trying to understand the flow of spending in the economy, from focusing attention on the narrow category of assets that actually get spent. ... Certain assets do and others do not circulate as media of exchange. ... The medium of exchange can 'burn holes in pockets' in a way that near moneys do not. ... These are observed facts, or inferences from facts, not mere a priori truths or tautologies."


Mises, Ludwig von (1881-1972), The Encyclopedia of Libertarianism, 15 Aug 2008
Biographical and bibliographical essay
Ludwig von Mises was the leading Austrian economist of his generation. He received several honorary doctorates and the distinction of a ceremonial 50th-anniversary renewal of his earned doctorate. The same occasion produced a Festschrift in his honor ... Mises deserves honor for his courage, even at heavy cost to his own career, in pursuing research, teaching, and writing with uncompromising concern that correct understanding should prevail in the long run. Although he did not live to fully see the outcome of his efforts, he and his ideas are beginning to win the recognition they deserve.
Reverence for Skeptics, Liberty, Oct 2007
Describes how Prof. Yeager albeit raised as Christian became what he calls a "reverent atheist" and discusses the bases for his views; includes relevant Baloo cartoon and bibliography
Some conservatives and classical liberals credit features of Western society, including individualism, capitalism, and liberal democracy, to the Judeo-Christian belief in a personal god. They see religion as essential to morality ... Overman simply makes these assertions; he does not argue for them ... As I hope I have shown, mine is not a smart-alecky atheism. I am no "evangelical atheist" (as I once heard someone described); instead I am a "reverent atheist." I have deep reverence for the immensity and wonders of the universe, including the mystery of the apparently deliberately fine-tuned constants of nature.
Related Topics: Atheism, Libertarianism


A Conversation with Leland B. Yeager, Austrian Economics Newsletter, 1991
Topics discussed include utilitarianism, rights theory, ethics and economics, mathematics and economics, methodological taboos, hermeneutics, Austrian economics, socialism and Eastern Europe
I don't see anything peculiar about economists being interested in ethics. The two fields overlap. Both are concerned with how people can function together in society without central direction. Somehow, they pursue their own interests and serve those of others at the same time. ... There is, of course, a question of how far one can go with taxation before one ruins the economy, and I don't know the answer. But social democracy still qualifies as a market. I don't think we are faced with an all or nothing choice about laissez-faire economics.

The introductory paragraph uses material from the Wikipedia article "Leland B. Yeager" as of 11 May 2018, which is released under the Creative Commons Attribution-Share-Alike License 3.0.