The paper presents a revisionist view of Carl Menger's monetary thought. Although Menger is widely regarded as understanding the monetary system as a Hayekian spontaneous order, Menger recognizes the importance of state in the historical development of money. In his 1900 'Geld', Menger...

The paper challenges Joseph Salerno’s recent revisionist account in “The Place of Human Action in the Development of Economic Thought” of the relationship between Friedrich von Wieser and F.A. Hayek and of their views on equilibrium theory. The paper argues, contra Salerno, that Wieser was...

In an oft-quoted paper entitled “To What Extent Was the Austrian School Marginalist ?”, Streissler challenged earlier interpretations of Menger’s work that had accorded equal billing to Menger alongside Jevons and Walras as co-discoverer of the marginalist principle. In Streissler’s words,...

Since Pope Leo XIII wrote Rerum Novarum (1891), the Catholic Church, while opposing socialism, has adopted a skeptical and suspicious posture with regard to the free market. The popes have supported labor unions, the idea of a "just wage," and a variety of other interventions. Yet the economic...