Best of the Podcast! — Israel Kirzner on the Revival of Austrian Economics
Hayek Program Podcast
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The Importance of Clarification in the History of Economics
Mises and Hayek believed themselves to be merely emphasizing the central meaning of commonly accepted neoclassical theory. They were simply not aware that their clarifications were in fact important original insights significantly deepening our understanding of how markets work. The textbooks unanimously and wrongly dismissed the Mises' higher critiques of socialism as having been decisively refuted by the writers, who starting from an exclusively equilibrium view of markets.
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