Austrian School

    The principle of equity embodied in The Flat Tax is that every taxpayer pays taxes in direct proportion to his income. As incomes double, triple, or grow tenfold, tax obligations double, triple, or rise tenfold. Those who earn more pay more. Alvin Rabushka and Robert E. Hall     Take Away The Flat […]

  I set out to become the greatest lover in Vienna, the greatest horseman in Austria, and the greatest economist in the world. Alas, for the illusions of youth: as a horseman, I was never really first-rate. Joseph A. Schumpeter   Take Away Joseph A. Schumpeter is considered one of the most influential social scholars […]

Just off the press: A brand new ecaef.org book presented by H.S.H. Prince Philipp of Liechtenstein at Pedro Schwartz’ 90th Birthday.   Indeed, economic analysis is woefully shortsighted when not grounded on a solid basis of liberal political philosophy. And conversely, political philosophy will be buffeted by the currents and crosswinds of mere fashion if […]

On the ‘useless preachings’ of a great liberal thinker. by Raffaele De Mucci (LUISS)   The purpose of this contribution is theoretical rather than historiographical. It aims to offer a reconstruction of some key aspects of Luigi Einaudi’s liberal thought, particularly those that are most relevant to understand Einaudi’s positioning regarding the “great divide” between […]

    The theory of economic equilibrium is Walras’ claim to immortality, that great theory whose crystal-clear train of thought has illuminated the structure of purely economic relationships with the light of one fundamental principle. Joseph A. Schumpeter It is only the passionate pro-socialist zeal of mathematical pseudo-economists that transforms a purely analytical tool of […]