Austrian economics or Austrian School economics has been cited in a number of online LibertyWorks articles to date, not including this one. However, none of us has really expounded on what Austrian economics is. As Pauline Hanson, the ‘boss’ of my former ‘boss’ Malcolm Roberts would say: “Please explain?”
This piece is based mainly on a speech I gave in 2017 to an audience of Libertarians from the Liberal Democrats Party (LDP) which relied, in significant part, on a lesser-known book entitled Understanding The Dollar Crisis by Percy Greaves. The speech was entitled Austrian School Libertarianism, and it was aimed at a free-market-friendly audience that may or may not know much (if anything) about Austrian economics.
The various economics schools of thought provide most but not all of the intellectual foundations for political worldviews including that of Libertarianism, Conservatism and Populism on the Right as … Read the rest