Steve, They Aren't Listening

My friend Steve Horwitz tried to explain what Austrian economics is and isn't.

But I fear Steve casts pearls before swine; see this article, in which the author "defines" Austrian economics as:

"What's more, Paul is a big believer in Austrian economic thought – the idea that government has no role in regulating the economy."

Because, you know, that's exactly what Friedrich von Wieser thought.


  1. The impression that was left on me by the Mises blog was that Austrian Economics is the brainstorming of elaborate government conspiracies. Who knew that chlorofluorocarbons and mental illnesses were just nefarious fabrications to keep humanity in the dark and something something big pharma...

    I can see the legacy of Mises shining brightly in wisdom spouted by the MI blog contributers.

  2. I have written on this subject myself:

    Eugen von Philippovich von Philippsberg and Friedrich von Wieser are fascinating.

    According to Hayek, von Wieser was even "slightly tainted with Fabian socialist sympathies" (Ebenstein, A. O. 2005. Hayek’s Journey: The Mind of Friedrich Hayek, Palgrave Macmillan, New York, p. 26).

    Even some of the less well known third-generation Austrian economists were reflexively hostile to government, e.g., Paul N. Rosenstein-Rodan:

  3. Correction:

    "Even some of the less well known third-generation Austrian economists were NOT reflexively hostile "


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