Thursday, October 9, 2008

My crude historical outline of Free-Market thought

Mercantilism gave governments an excuse for privation of their countrysides for the benefit of their "country" or royal coffers. (Terms to google: Jean-Baptiste Colbert, Louis XIV)

Physiocrats or economistes came into existence under authoritarian France. They coined the term laissez faire. They applied the enlightenment ideals of freedom and liberty to economics during a time of growing enlightenment in the culture at large. (Terms to google: Francois Quesnay)

Adam Smith was an intellectual heir to the physiocrats and also English. His Wealth of Nations popularized free market theory. (Terms to google: Adam Smith, Wealth of Nations)

Carl Menger and others in Austria (I do believe they were also under an authoritarian government) had amazing insights into what really drove the market's pricing of goods: demand. The next generation of Austrian free market economists Ludwig von Mises, Frederick Hayek, explained the trade cycle in terms of economic theory thereby discovering the source of the "boom-and-bust" cycle. (Terms to google: supply and demand, Ludwig von Mises, Frederick Hayek, Austrian economics)

Today there is a thriving school of thought call Austrian economics. Ludwig von Mises Institute is the de facto headquarters. Some famous or infamous people associated with it are Ron Paul, Lew Rockwell, Murray Rothbard, et al. (Terms to google: austrian theory of the trade cycle, Murray Rothbard)

To aid in the learning process I am including a list of links to sites promoting liberty in politics and economics:

"The Ludwig von Mises Institute is the research and educational center of classical liberalism and the Austrian School of economics."

I also subscribe to GaryNorth.com which is where I get most of my knowledge from. But it costs $15 a month. You can get most of the same information for "free" but you'll have to work harder for it (it'll only cost you time...).

Congressman Ron Paul's website.

Lew Rockwell blog and site.

Constitution Party. I vote for their candidates.

Chuck Baldwin's website (Constitution Party Candidate 2008).

Chalcedon Foundation. A Christian educational organization.

Campaign for Liberty.

Ron Paul Archives.

Gary North Archives. And his Freebooks website.

If this list isn't daunting enough Google: Murray Rothbard, Ludwig von Mises, Carl Menger, Frederick Hayek, Frederick Bastiat, Adam Smith...

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