Science and the rule of law are the two pillars of modernity. Even though both result from the attempt to employ reason to limit the exercise of power in the scientific and the political sphere, they bear in themselves the germs of their own destruction: scientism and welfare totalitarianism. This book examines a trend towards a new, specifically postmodern totalitarianism, namely a regime of "actually existing postmodernism" that is based on the collusion of four elements: (i) scientism and its political use, (ii) intellectual postmodernism, (iii) welfare states, and (iv) crony...

This book, the second of two volumes, provides a comprehensive overview of the core topics within Austrian economics. With a focus on macroeconomics, it explores foundational ideas within Austrian economics, including monetary and banking theory, law, capital theory, business cycles, the relationship between the market and the state, and interventionism. These ideas are contextualized within the history of economic thought, in particular the work of Ludwig von Mises. The Keynesian system, reform to the banking system, wages, social order, fiscal policy, and the political economy...

This book provides unique insight into the relationship between economics and family life. Taking ideas from the Austrian school of economics’ understanding of monetary theory, it delves into the drivers of family formation, fertility, and family disintegration, with a particular focus on the role of inflation and inflationary policy. By placing questions surrounding family life within a political economy setting, the impact of relative price changes, inflation culture, and specific monetary policies on the role and structure of the family are highlighted.

This book offers a...

This book provides an overview of the concepts and theories that underpin the Austrian school of economics. It follows the development of Austrian economics, from the neo-classical revolution at the end of the 19th century to the modern era of economics that it has shaped. By highlighting the theoretical framework that characterises Austrian economics, insight is provided into a broad range of economic issues, including the notion of value, the impact of state intervention, the formation of market prices, the nature of competition, the laws of production, monetary policy, and business...

This book offers an accessible framework for macroeconomic modelling rooted in the capital theory of Austrian Economics. By distinguishing between the goods and monetary sides of the economy and exploring their interaction, the book provides a comprehensive macroeconomic model that integrates time preference and interest rates. It examines how monetary and fiscal policies can produce business cycles and how these cycles are influenced by central bank liquidity and financial market behaviour. Additionally, the book discusses the ways in which monetary and fiscal policies can prolong and...

This book, the first of two volumes, comes to life through the transcription of captivating classroom lectures spanning several years, providing a comprehensive overview of the core topics within Austrian economics. With a focus on microeconomics, it explores foundational ideas within Austrian economics, including human action, entrepreneurship, competition theory, and price theory, to give readers a deep understanding of each topic unravelling complex economic concepts with clarity and precision. Economic uncertainty, rationality, marginal utility, productivity, exchange interactions,...