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One of the most influential economists of the twentieth century, American economist Milton Friedman received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory and the complexity of stabilization policy. His work is so significant that it is now required reading for any student of economic…
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Considered among the leading economic thinkers of the twentieth century, American financial journalist and writer Henry Stuart Hazlitt is perhaps best known for introducing the ideas of the Austrian School of economics to American thought. Through both his prolific literary career and editorial reviews of the revolutionary works of leading economists including Ludwig Von Mises and F.A. Hayek,…
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By Barbara Marshall – Palm Beach Post Staff Writer Posted: 7:00 a.m. Thursday, Dec. 8, 2016 (View the article on mypalmbeachpost.com here) Every day, Matt Raptis holds Western civilization in his hands. He can page through Captain James Cook’s illustrated account of his 18th century journeys to the South Pacific, follow Charles Darwin’s evolutionary reasoning…
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“First and greatest classic of modern economic thought”: First Edition of Adam Smith’s Wealth of Nations American economist and historian Robert L. Heilbroner writes about Adam Smith’s influence on capitalism: Adam Smith’s enormous authority resides, in the end, in the same property that we discover in Marx: not in any ideology, but in an effort…
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Road to Serfdom was first published in Britain by Routledge in March 1944, during World War II, and due to the book’s popularity during this time of paper rationing, Hayek jokingly called it “that unobtainable book” (Ebenstein, 2003). Consequently, the first British copy, as here pictured, is quite rare. The title for Road to Serfdom…
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“Funeral by Funeral, theory advances” – Paul Samuelson Paul Samuelson is one of the developers of both neo-Keynesian and neoclassical economics, the later of which still dominates mainstream economics. He was awarded the Nobel Memorial Prize in Economic Sciences for having written considerable parts of economic theory, and he is one of the ten Nobel…
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One would be hard pressed to find someone who has not been affected by the recent economic downturn. History tells us that everything is indeed cyclical. The world has seen this whether it is the crash of 1929 or 1988. At the impetus of Arthur Schlesinger the great economist John Kenneth Galbraith published The Great…
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