The second volume contains an enlightening critique of Ricardian economics, showing the constraints on theory entailed by Ricardo’s static and pseudo-mathematical method. Ricardo’s successor John Stuart Mill is the object of a devastating intellectual portrait. Marxism is subjected to a merciless demolition, and Rothbard shows the roots of this system in metaphysical speculation. The French classical liberals such as Bastiat, on the other hand, contributed to the subjectivist school. A further highlight of this volume is a discussion of the bullionist controversy: the views of the Banking and Currency Schools receive extensive analysis.

Latest episodes of the podcast Classical Economics

• An Austrian Perspective on the History of Economic Thought Audiobook
• 1. J.B. Say: The French Tradition in Smithian Clothing
• 1. J.B. Say: The French Tradition in Smithian Clothing (continued)
• 1. J.B. Say: The French Tradition in Smithian Clothing (continued 2)
• 2. Jeremy Bentham: The Utilitarian as Big Brother
• 2. Jeremy Bentham: The Utilitarian as Big Brother (continued)
• 3. James Mill, Ricardo, and the Ricardian System
• 3. James Mill, Ricardo, and the Ricardian System (continued)
• 4. The Decline of the Ricardian System, 1820-48
• 4. The Decline of the Ricardian System, 1820-48 (continued)
• 4. The Decline of the Ricardian System, 1820-48 (continued 2)
• 4. The Decline of the Ricardian System, 1820-48 (continued 3)
• 5. Monetary and Banking Thought, I: The Early Bullionist Controversy
• 5. Monetary and Banking Thought, I: The Early Bullionist Controversy (continued)
• 5. Monetary and Banking Thought, I: The Early Bullionist Controversy (continued 2)
• 6. Monetary and Banking Thought, II: The Bullion Report and the Return to Gold
• 6. Monetary and Banking Thought, II: The Bullion Report and the Return to Gold (continued)
• 7. Monetary and Banking Thought, III: The Struggle Over the Currency School
• 7. Monetary and Banking Thought, III: The Struggle Over the Currency School (continued)
• 7. Monetary and Banking Thought, III: The Struggle Over the Currency School (continued 2)
• 8. John Stuart Mill and the Reimposition of Ricardian Economics
• 9. Roots of Marxism: Messianic Communism
• 10. Marx's Vision of Communism
• 10. Marx's Vision of Communism (continued)
• 11. Alienation, Unity, and the Dialectic
• 12. The Marxian System, I: Historical Materialism and the Class Struggle
• 12. The Marxian System, I: Historical Materialism and the Class Struggle (continued)
• 13. The Marxian System, II: The Economics of Capitalism and its Inevitable Demise
• 13. The Marxian System, II: The Economics of Capitalism and its Inevitable Demise (continued)
• 14. After Mill: Bastiat and the French laissez-faire Tradition
• 14. After Mill: Bastiat and the French laissez-faire Tradition (continued)
• 14. After Mill: Bastiat and the French laissez-faire Tradition (continued 2)