Exciting time for the Australian School of Economics

This week 40 years ago the Austrian school of economics staged a revival at a conference at South Royalton in upstate Vermont. Ironically, that was the year after the death of Ludwig von Mises (1881-1973), the backbone of the movement for almost a century. Also in 1974 Hayek was awarded a share of the Bank of Sweden “Nobel prize” with the socialist Myrdal.

The Institute of Humane Studies sponsored the Royalton College event where about 50 people turned up for addresses from the three big hitters at the time, Israel Kirzner, Ludwig Lachmann and Murray Rothbard. The proceedings were published in a collection The Foundations of Modern Austrian Economics.

That book and the papers from the second Austrian conference the following year, and many other books of an Austrian and libertarian nature were available from the Sydney think tank Centre 2000 in the 1980s, even from a streetfront shop in the Sydney CBD for a short time.

Now Catallaxy is the stronghold of the Australian School, a dynamic combination of Austrian ideas with Popperism and the classicals.

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7 Responses to Exciting time for the Australian School of Economics

  1. That’s awesome.
    Though I’m still waiting for adherents of the Austrian School to grow up completely and throw off every last vestige of fatal, Socialist, central-planning conceit and start arguing that individuals ought to be free and unimpeded in every decision they strike amongst themselves regarding the allocation of resources, NOT because it will “lead to this or that better outcome” but because it is in and of itself the most moral thing to do; and because none of us really have the faintest idea what the outcomes will be; because finding out what humanity is when free is the meaning of life.
    I’m still waiting for that.

  2. .

    So you want economics to be Objectivism?

    There is no value in this.

    Liberty ought to have moral and utilitarian foundations. Ideally they should coincide – and not be mutually exclusive.

  3. This book is available online for free at the Online Library of Liberty.

    Edwin G. Dolan, The Foundations of Modern Austrian Economics, ed. with an Introduction by Edwin G. Dolan (Kansas City: Sheed and Ward, 1976). /titles/104

  4. .

    Should implies an increase in utility. Ought implies moral imperative.


  5. Anne

    What ever happened to Centre 2000?

  6. .

    Good question Anne.

    Thanks for the book tip, David.

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