But the lasting impact of the course comes mainly from the papers.
When students come back to visit during class reunions, the equations and graphs long since forgotten, we almost always end up talking about the questions they have posed and answered during the intervening years. Dulski argued that because most brides wish to make a fashion statement on their wedding day, a rental company would have to carry a huge stock of distinctive gowns -- perhaps 40 or 50 in each size.
This work is copyrighted by the Institute for Humane Studies, George Mason University, Fairfax, Virginia, and is put online with their permission. First, there is the memory of Ludwig von Mises, an intellectual giant from whom we all have learned so much. Without the support of the Institute none of this would have been possible. Most mainstream economists find no comfort in his work because as a member of the Austrian school he opposes the direction taken by modern economic analysis.
This material is put online to further the educational goals of Liberty Fund, Inc. No part of this book may be used or reproduced in any manner whatsoever without written permission except in the case of reprints in the context of reviews. Second, there are the Institute for Humane Studies and, more important, the memory of its founder and guiding spirit, F. Thanks here must also go to all of those now associated with the Institute, especially to Charles G. An intellectual descendant of Carl Menger (1840–1921), the founder of the Austrian school, Ludwig von Mises (1881–1973) and Friedrich A. 1899), the Austrian school's most important twentieth-century representatives, Lachmann remains an outsider.
The economic-naturalist writing assignment plays to this strength. Real progress in both cases comes only from speaking.
The economic-naturalist papers induce students to search out interesting economic stories in the world around them.Daniel Boorstin, the former librarian of Congress, used to rise at 5 each morning and write for two hours before going into the office. "After all, the bars aren't open that early." Mr.Boorstin's morning sessions were even more valuable than he realized.When they find one, their first impulse is to tell others about it.They are also quick to recount interesting economic stories they hear from classmates.My favorite was submitted by Jennifer Dulski, who asked, "Why do brides often spend thousands of dollars on wedding dresses they will never wear again, while grooms often rent cheap tuxedos, even though they will attend many formal social events in the future?"Decades ago, when I first started teaching introductory economics, it never would have occurred to me to give an assignment like this.Imagine yourself talking to a relative who has never had a course in economics.The best papers are ones that would be clearly intelligible to such a person, and typically these papers do not use any algebra or graphs."Over the years, my students have posed and answered literally thousands of fascinating questions.This volume consists of 17 of Ludwig Lachmann’s most important papers published during the period 1940-73. He is a scholar whose wisdom matches his years, but whose energy and sense of intellectual excitement is that of a far younger man. Hayek, whose works have influenced both Professor Lachmann and myself. Ambacher, who helped to translate into English the two originally German articles included in this collection, and for Walter Block, who helped during the early stages of preparation of this volume.Two of the articles appear here in translation for the first time. He is a veritable fountain of knowledge, a never-ending stream of economic insight, which is always offered in his unique and curiously wonderful style. Professors Kirzner and Rothbard especially lent their support and encouragement throughout the project. A special thanks goes to the hard-working general editor of this series of Austrian works, Laurence S. Last, but certainly not least, I would like to thank my patient wife, Mary Jane Grinder, for her help in typing the manuscript.