Showing results for "Das Institut" in Theory

Talk about great timing. Rothbard's extraordinary book unravels the mystery of banking: What is legitimate enterprise and what is a government-backed shell game that can't last? His explanation is clear enough for anyone to follow and yet precise and rigorous enough to be the best textbook for college classes on the topic. This is because its expository clarity - in its history and theory - is essentially unrivaled. Most notably, he uses the T-account method of explaining the relationship between deposits and loans, showing the inherent instability of fractional reserve banking.

No single individual is ever the sole founder of any major stance in political philosophy. Nevertheless, if one were forced to name the founder of the classical liberal perspective in political thought which holds as its primary political principle that individual liberty is to be respected and protected, one would have to point to the English philosopher John Locke.

Few ideas have been as influential in the development of moral, political, legal, and economic thought in the broad Western tradition as the idea of natural law. It is also true that the understanding of natural law and its influence on specific norms and institutions—rights, justice, private property, rule of law, limited government—is not anywhere near as widespread in the 21st century as it was just 100 years ago.

Adam Smith (1723–1790) is widely hailed as the founding father of the discipline now known as economics, and he is widely credited as the founding father of what is now known as capitalism. Smith’s 1776 book, An Inquiry into the Nature and Causes of the Wealth of Nations, is often cited as the beginning of both economics and capitalism, and its influence since its publication ranks it among the most important works of the last millennium.

The purpose of this audiobook is to present an overview of the key tenets of Austrian economics by synthesizing the insights from these thinkers in a set of eight topics that capture the core elements of Austrian economics.

Buchanan believed deeply that each individual is morally equal to every other individual. Because no person is superior, ethically speaking, to any other person, no person’s opinions or preferences should be given special advantage over those of other persons. He believed that this conclusion holds fast despite the undeniable fact that some individuals are smarter, better educated, wealthier, or higher-born than others.

Ronald Coase (1910-2013) was one of the most influential economists of the 20th century. His influence is due largely to two publications, the only two cited in the announcement of his Nobel Prize: The Nature of the Firm (1937) and The Problem of Social Cost (1960). These two articles are among the most-cited works in economics.

The UCLA tradition carries on in the work of dozens of economists who earned their PhDs at UCLA during its golden years. Because their work spread beyond UCLA, the tradition lives on in the work of scores of economists who had no formal connection with the school.