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3: Austria, 1899–1931: Hayek’s ‘Reaction’—Restoring the ‘World Restored’ of the 1820s

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Hayek: A Collaborative Biography

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Abstract

Hayek, a superstition-promoting, neo-Feudal ‘spontaneous’ order reactionary, dated the deluge to the 1820s: ‘Before that, there was never any serious revolt against the market society, because every farmer knew he had to sell his grain.’ Rothbard, his co-leader of the fourth generation Austrian School, also insisted: ‘We shall repeal the 20th century.’ This nostalgia leads Austrian economists like the fraud Sudha Shenoy to promote a fantasy version of the nineteenth century: there were ‘no major wars between 1815 and 1914. The world’s armies and navies did not know what to do.’ Mises advised Otto, the Habsburg Pretender, on ‘how monarchy might be restored in Austria’, while Otto insisted that ‘the separation of church and state in France is wrong.’

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  1. Department of Economics, Stanford University Department of Economics, Stanford, California, USA

    Robert Leeson

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Leeson, R. (2017). 3: Austria, 1899–1931: Hayek’s ‘Reaction’—Restoring the ‘World Restored’ of the 1820s. In: Hayek: A Collaborative Biography. Archival Insights into the Evolution of Economics. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-52054-4_6

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  • DOI: https://doi.org/10.1007/978-3-319-52054-4_6

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