Murray Rothbard: Difference between revisions
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removed false statement about Austrian interpretation
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:*Humans prefer to receive a good sooner rather than later. | :*Humans prefer to receive a good sooner rather than later. | ||
:*Each party to a trade benefits ''[[ex ante]]''. | :*Each party to a trade benefits ''[[ex ante]]''. | ||
Even in the early days, Austrian economics was used as a theoretical weapon against socialism and statist socialist policy. [[Eugen von Böhm-Bawerk]], a colleague of Menger, wrote one of the first critiques of socialism ever written in his treatise ''The Exploitation Theory of Socialism-Communism''. Later, [[Friedrich Hayek]] wrote ''[[The Road to Serfdom]]'', asserting that a [[command economy]] destroys the information function of prices, and that authority over the economy leads to [[totalitarianism]]. Another very influential Austrian economist was [[Ludwig von Mises]], author of the praxeological work ''Human Action''. | Even in the early days, Austrian economics was used as a theoretical weapon against socialism and statist socialist policy. [[Eugen von Böhm-Bawerk]], a colleague of Menger, wrote one of the first critiques of socialism ever written in his treatise ''The Exploitation Theory of Socialism-Communism''. Later, [[Friedrich Hayek]] wrote ''[[The Road to Serfdom]]'', asserting that a [[command economy]] destroys the information function of prices, and that authority over the economy leads to [[totalitarianism]]. Another very influential Austrian economist was [[Ludwig von Mises]], author of the praxeological work ''Human Action''. | ||