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Richard Ebeling on the South Royalton, VT Conference in June 1974

Summary:
Economists and social thinkers of a certain generation draw great inspiration from a conference sponsored by the Institute for Humane Studies 45 years ago this week.  This conference produced Foundations of Modern Austrian Economics, and led to a flourishing of educational programs, publishing (both classics in reprints and new volumes) and additional conferences.  Karen Vaughn's Austrian Economics in America (Cambridge, 1994) builds its core narrative around this conference, and Joe Salerno has countered with a history that challenges that by going back farther in history to the publication of Man, Economy, and State (1962) -- and of course there is truth in both because South Royalton conference was possible only because of Rothbard's galvanizing personality, but South Royalton was

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Economists and social thinkers of a certain generation draw great inspiration from a conference sponsored by the Institute for Humane Studies 45 years ago this week.  This conference produced Foundations of Modern Austrian Economics, and led to a flourishing of educational programs, publishing (both classics in reprints and new volumes) and additional conferences.  Karen Vaughn's Austrian Economics in America (Cambridge, 1994) builds its core narrative around this conference, and Joe Salerno has countered with a history that challenges that by going back farther in history to the publication of Man, Economy, and State (1962) -- and of course there is truth in both because South Royalton conference was possible only because of Rothbard's galvanizing personality, but South Royalton was a catalyst for a renewed efforts to advance the Austrian School of Economics.  The Austrian Economics Program at NYU was pursued with a renewed energy after the conference, this led to new opportunities for faculty appointments and graduate student education.  And, of course, new research and educational centers were established in the coming decade and with that new PhDs who eventually would make their way in the competitive game of academia -- publishing new works in the Austrian tradition and assuming professorships at a variety of institutions of higher education throughout North America, South America, Asia and Europe.  So pretty phenomenal growth in a scientific research program, though obviously for those of us committed to this research program we would have like to have seen much greater success than we have so far.  Our hope now falls to the next generation.

Ebeling's piece is well worth reading so please do so, and follow the links. 

Peter Boettke
Peter Joseph Boettke (January 3, 1960) is an American economist of the Austrian School. He is currently a University Professor of Economics and Philosophy at George Mason University; the BB&T Professor for the Study of Capitalism, Vice President for Research, and Director of the F.A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics at the Mercatus Center at GMU.

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