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Posts Tagged ‘FA Hayek’

On the August 2, 2014 episode of Exposing Faux Capitalism with Jason Erb, I discussed:

More analysis of The Gold Standard: Perspectives in the Austrian School (pp. 20-25), with Rothbard’s critique of a basket of currencies, bi-metallic standard and case for a single commodity gold standard.

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English: Cover of the 2011 edition of The Aust...

The impression given by the 501(c)(3) tax-exempt Ludwig von Mises Institute that claims to hate government so much is that the Austrian School of economics has all the answers for what ails us, economically.

But what do we find with a little digging into what prominent Austrian School economists and devotees themselves say?

From the February 21, 2010 Daily Bell interview with Lew Rockwell (emphasis mine):

Daily Bell: Is the logical outcome of Austrian economics the disappearance of the state?

Rockwell: Mises didn’t think so; neither did Hazlitt. Sudha Shenoy argues that of all the people who entertained the possibility of society without a state in that generation, Hayek comes closest to embodying the anarchistic temperament. In any case, the man who made the real difference in the Austrian School in this regard is Rothbard. It was he who pushed the theoretical apparatus “over the edge,” so to speak. Hardly any modern Austrian today is not an anarchist. This is also thanks to Rothbardians such as Walter Block, Hans-Hermann Hoppe, and David Gordon, of course. At one time Rothbard was denounced for his views, for having allegedly marginalized the School. Now, of course, his anarchism is probably the largest part of the legacy he left for the world. It is very appealing to young people, unlike the statism of regime economists.

Rockwell: Rothbard condemned patents but not copyrights. Mises and Machlup saw patents as government grants of monopoly, but neither condemned them outright. Hayek was against copyrights and patents, but didn’t write about them much. It is digital media that have brought the issue into focus. The key thinker here is Stephan Kinsella. He and Jeffrey Tucker have done the heavy lifting and convinced most all of us that intellectual property is an artifice that has no place in a market economy.

What an interesting admission, that Mises apparently didn’t hate the state enough — compared to Murray Rothbard — in not actually condemning particular government grants of monopoly.

For more on disagreements and misunderstandings among Austrian School economists and devotees, see my articles:

1) Austrian School economist George A. Selgin pointed out a flaw in von Mises’ case for a gold standard

2) Gary North, before correcting Ellen Brown’s mistakes, correct your own

3) Dr. Walter Block calls Gary North out on yet more mistakes!

4) Mises devotees don’t know that Mises said inflation isn’t a tax

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