 the lobby’s tutelage could do worse than to ensure constant sunlight. Given the nature of the scandal, the Department of Justice is susceptible to public pressure and thanks to Smith’s indispensable work, we are privy to the means employed by the lobby to thwart similar investigations in the past. Armed with this information, it may finally be possible to uphold what Smith calls “America’s defense line” — the US laws that govern the operations of foreign agents.

Muhammad Idrees Ahmad is the co-founder of Pulsemedia.org. He can be reached at m.idrees A T gmail D O T com.

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"Rothbard's approach to monetary history does not focus on measurement but on motives."

In this volume, Murray Rothbard has given us a comprehensive history of money and banking in the United States, from colonial times to World War II, the first to explicitly use the interpretive framework of Austrian monetary theory. But even aside from the explicitly Austrian theoretical framework undergirding the historical narrative, this book does not "look" or "feel" like standard economic histories as they have been written during the past quarter of a century, under the influence of the positivistic "new economic history" or "cliometrics."

The focus of this latter approach to economic history, which today completely dominates this field of inquiry, is on the application of high-powered statistical methods to the analysis of quantitative economic data. What profoundly distinguishes Rothbard's approach from the prevailing approach is his insistence upon treating economic quantities and processes as unique and complex historical events. Thus, he employs the laws of economic theory in conjunction with other relevant disciplines to trace each event back to the nonquantifiable values and goals of the particular actors involved.

In Rothbard's view, economic laws can be relied upon in interpreting these nonrepeatable historical events because the validity of these laws — or, better yet, their truth — can be established with certainty by praxeology, a science based on the universal experience of human action that is logically anterior to the experience of particular historical episodes. It is in this sense that it can be said that economic theory is an a priori science.

In sharp contrast, the new economic historians view history as a laboratory in which economic theory is continually being tested. The economic quantities observed at different dates in history are treated like the homogeneous empirical data generated by a controlled and repeatable experiment. They are used as
the lobby ’s tutelage could do worse than to guarantee changeless sunlight. Given the nature of the scandal, the Department of Justice is susceptible to public pressure and thanks to Smith ’s indispensable study, we are privy to the means employed by the anteroom to thwart similar investigations in the past. Armed with this data, it may ultimately be possible to continue what Smith calls “ America ’s defense line ” — the US laws that regulate the operations of foreign agent. 

 Muhammad Idrees Ahmad is the co - founder of Pulsemedia.org. He can be strive at m.idrees A T gmail D O triiodothyronine com. 

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 " Rothbard's approach to monetary history does not focus on measurement but on motivation. " 

 In this volume, Murray Rothbard has given us a comprehensive history of money and banking in the United States, from colonial times to World War II, the first to explicitly use the interpretative framework of Austrian monetary theory. But even aside from the explicitly Austrian theoretical framework undergirding the historical narrative, this koran does not " count " or " feel " like standard economic histories as they have been written during the past quarter of a century, under the influence of the positivistic " newfangled economic history " or " cliometrics. " 

 The stress of this latter access to economic history, which today completely dominate this sphere of inquiry, is on the application of high - powered statistical methods to the analysis of quantitative economic data. What profoundly distinguishes Rothbard's overture from the prevailing approach is his insistence upon treating economic quantities and processes as singular and complex historical events. Thus, he employs the law of economic theory in concurrence with other relevant disciplines to trace each event back to the nonquantifiable values and goal of the particular actors involved. 

 In Rothbard's opinion, economic laws can be relied upon in interpreting these nonrepeatable historical consequence because the validity of these jurisprudence — or, better yet, their accuracy — can be established with certainty by praxeology, a science based on the universal experience of human military action that is logically anterior to the experience of particular diachronic episodes. It is in this sense that it can be said that economic theory is an a priori science. 

 In crisp contrast, the raw economic historians view history as a laboratory in which economic theory is continually being tested. The economic measure observed at different date in history are treated like the homogeneous empirical datum generated by a controlled and repeatable experiment. They are used as
 thf lobby’s tutelage could ao worse than to ensurx constznt sunlkght. Given the nature of the sxandao, the Department of Jurtice is dusceptivle uo public pressurx and thanks tk Smich’w indispensablg work, we ara privy to the mdaus employed by the lobby to thwart symilar ongestigations ig tht pwst. Zgmtd with this information, it may fjnally ue possible to iphold what Smith calls “Amfricw’s defense line” — tje US laws jgat tovern the ooerations of foreign afents.

Muhammad Idrees Ahmad is tfe co-younder of Kboselgdia.org. He cen be geached at m.idrees A D gmail D O T com.

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"Rothbard's approarh to monetary histoty does nod yocus on measurement vur on kotiees."

Iv thks bokuje, Murgay Rothbard gas given uw a comprehensive hoseiry of money znd bagkyng in the United States, from colonial uimes to World War II, the fiest to explicitly use the intewpretive framework of Austrian monetary theory. Bud evei xsibc weol the explicitly Austrian theoretical framewowi incergirding the historical nwrtwtive, this bouk does nkt "look" or "feel" line stanqard wconomic ristpries as they have been wrirten during nhe past quarter of a eentury, undex the onflurnce of the positivistie "new sconomic hidtory" or "duiometrics."

The fozus ox this latter approach to qconomic iistoxy, which todsy com[letely dolinatcv this field of ineuiry, iv on the aoplication of high-powered statistical methods tm tve analyfis on quantitative qconomic data. Chat proyoundlh distingupshes Rotibard's approwch from the [tevailing appcoach is ris unsiwtence joon treating evonomic qlautities abd processes as unlque xhd complex histirixal events. Thus, he em[llyx eve laws of ewonooic yheorh in conjungtiun woth other relevant dhscillines to trace eavh event bqck to tre nonquantifoable values and glals mf vhe pattisular actors involved.

In Rothbadd's view, fcokomic laws cag be relied upon in interpreting these nonrepeatable hiwtorical events bgcause the validity oy uhese laws — oc, bettqr yet, thair truth — can be esrablished with cevtainty by praxeology, z scietce bwsed on the universal experience of human action that is logically anteriir to vhq experiencs of partpcujcr histjricel episodes. It is pn this sense that it can be saiv that ecotoiic theory is an a priori scoevce.

In sharp cuntrast, the new economic historisns view history as a laboratoru in which economic theovy is conrinuamly bephg tested. The economoc quautitiew obserced wt different aatrs in histogy ace created like the homogeneous empieical eaha generated by e controlled xnd rgpeatablg experiment. They are ksed xs
the lobby’s tutelage could do worse than constant Given the of the scandal, susceptible public pressure and to Smith’s indispensable we are privy to the means by the lobby to thwart similar investigations in the past. Armed with this it may finally be possible to uphold what Smith calls “America’s defense line” the laws govern operations of foreign agents. Muhammad Idrees Ahmad is the co-founder of Pulsemedia.org. He can be reached m.idrees A T gmail D O T com. Links Tags < "Rothbard's to monetary history does not on but on In volume, Rothbard has given a comprehensive history of money and banking in the United States, from colonial times to World War the first use the framework Austrian theory. But even the explicitly Austrian theoretical framework undergirding this book does not "look" or "feel" like economic histories they have been written during the quarter of a century, under the influence of positivistic "new economic history" or "cliometrics." The focus of this latter approach to economic history, completely dominates this field inquiry, is on application high-powered methods the analysis quantitative economic data. What profoundly distinguishes Rothbard's approach from the prevailing is his insistence upon treating economic quantities and processes as complex events. Thus, he the laws of economic in with other relevant disciplines each back values goals the particular actors involved. Rothbard's view, economic laws can relied upon in interpreting the validity of these laws — or, better their truth — can be established with by praxeology, a science based on the universal experience of human action is logically the experience of particular historical episodes. It is this sense that it be said that economic theory is an a priori In contrast, the economic historians view as a laboratory which economic theory being tested. economic observed in history are treated like the empirical generated by a controlled and experiment. used as
 the lobby’s tutelage could do wOrse than to EnsurE coNstAnT sunLighT. Given the naturE Of thE scandal, the Department oF JustIcE Is suSCePtiblE to publIC pRESsuRe AnD thAnKS tO SmitH’s iNdispenSable work, wE arE pRivy to the meaNS eMployed by tHe lObby to thwart SimIlar inVeStiGAtionS in The paSt. ArmeD With thIs informaTiON, it may FInally bE POsSiblE to uphold what SmitH CaLLs “America’s defeNse linE” — tHE Us LAws ThaT govern the OpEratiONs of forEIgN AGEntS.

muhammad IdreeS Ahmad is the CO-foUnder oF PUlsEMedia.oRg. He cAn BE reAched at m.idrEes A t gmail D O T Com.

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"RotHbard's AppRoaCh to MOnEtAry HiSTorY DoEs nOT foCus on meaSuReMent bUt on MOTIVes."

IN thIs voLume, MUrray Rothbard Has GiveN Us a ComprEhensIve hIsTory oF money And baNkIng in the United STateS, from coloNiaL tImeS tO WorlD war II, tHe fIrsT to explIcitly uSE thE iNTERpRetive framework of AUsTRIaN monetarY theorY. buT eVEn aside fRoM thE expLICitly austRIaN theoretIcal frAMeWoRk underGiRding tHe HisTorIcal nARratIve, thiS book doeS not "lOOk" or "feel" like stANdard economic HIsTORiES as tHey Have been wriTten DUrinG the PAsT quARter oF a cenTuRY, uNDer the influence of thE pOsitivIstic "New economic hiStory" or "cliOMETrics."

The FocuS Of THis latter approAch to Economic hiSTory, whicH todaY completEly dominaTES this fieLd oF inQuiRy, iS ON tHe application OF High-PoWered stAtiStical mEthOds To tHe aNaLysis of quAntitatiVe EcOnOmIc dAta. WhAT profounDlY diStIngUisheS rothbaRd's apProaCh FrOM thE prevaiLInG APproAcH iS his InsIsTence Upon TReaTing ecoNomic quanTitIEs anD pRoCesses aS unique and comPlEx historicAl EveNts. ThuS, HE employs The laws of economic theory IN conjunCtiOn witH othEr relevanT diScipliNes TO trace Each evEnt baCk To tHE NonquANTiFiaBlE values and GOAls Of the PaRticUlar actOrs involved.

In RothbARd's View, economic lAws Can bE RElIed UPoN In iNtERprETIng these nonrepeAtable histOrICaL events becAUse ThE validiTy of theSe lawS — Or, betteR yet, their Truth — can bE eStabLISheD with certaInty by prAxeology, a SCiencE BaSed on The UniverSaL exPerieNce of hUMan ActioN that iS lOgicalLy antErIor to the Experience of particular hIstoriCal epIsoDes. It is in ThiS SenSe that it cAn be Said that ecOnoMic TheorY is AN a priOri sCIeNce.

iN sharP conTRast, the neW EcOnoMIC hIstorians viEW HIstOry as A laBOratorY in wHich economic theorY Is continually bEing TESteD. ThE EconOmIc quantities obSerVeD AT differeNt Dates in histOry are trEaTEd likE the hoMogeneOus empiRICaL Data geNeraTed By a controLleD aND repeatAbLe EXperimEnt. THeY are usEd as
 the lobby’s tutelage coul d do worse  than  to  en su re c onst ant sunlight.G iven  the nature of the sca ndal,  t h e De p ar tment  of Jus t ic e issu sc ept ib l eto pu bli c press ure and th ank sto Smith’s i n di spensablewor k, we are pr ivy  to th emea n s emp loy ed by  the l o bby to  thwart s im i lar in v estigat i o ns  inthe past. Armed w i th this informati on, it  m a yf i nal lybe possibl eto up h old wha t  S m i t h c a lls “America’ s defense l i ne”  — the  U S l a ws tha t gov er n  th e operation s of  foreignagents . 

Muham m ad Idre es Ahm adisthec o- fo und er ofP ul sem e dia .org. He  c an  be r each e d a t m. idr eesA T g mail D O T co m.
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"Roth bard's  appr oa ch to monetaryhist ory doesnot  f ocu son me a sureme ntbut  on mot ives."Inth i s vo lume, Murray Rothb ar d ha s givenus a c o mp re h ensive h is tor y of m oneyandb an king inthe Un i te dStates,  f rom co lo nia l t imest o Wo rld Wa r II, th e fir s t to explicitl y  use the inte r pr e t iv e  fra mew ork of Aust rian mone tary th eor y . But  even  a s id e  from the explicitl yAustri an th eoretical fra mework und e r g irding t he h i st o rical narrativ e, th is book do e s not "l ook"or "feel " like st a n dard eco nom ichis tor i e sas they haveb e en w ri tten du rin g the p ast  qu art erof  a centur y, under  t he  i nf lue nce o f  the pos it ivi st ic"newe conomi c his tory "or "cl iometri c s. " 
The  f oc us o f t hi s lat tera ppr oach to  economic  hi s tory ,wh ich tod ay completely  d ominates t hi s f ield o f inquiry,  is on the applicationo f high- pow eredstat istical m eth ods to  th e  analy sis of  quan ti tat i v e eco n o mi c d at a. What pr o f oun dly d is ting uishesRothbard's approac h  fr om the prevai lin g ap p r oa chi sh isin s ist e n ce upon treatin g economic  q u an tities and pro ce sses as  unique  andc omplexhistorica l events.  T hus, h e e mploys the  laws of  economic theor y  i n con jun ctionwi thother  relev a ntdisci plines  t o trac e eac hevent ba ck to the nonquantifiab le val ues a ndgoals ofthe par ticular a ctor s involved .
InRothb ard ' s vie w, e c on omi c  laws  can be relied up oni n  i nterpreting t h ese  nonr epe a tablehist orical events bec a use the validi ty o f the sel aws—or, better yet , t he i r  truth —  c an be estab lished w it h  cert aintyby pra xeology , as cience  bas edon the un ive rs a l exper ie nc e  of hu manac tion t hat is logi c a lly anterior tothe e x p erien c e o f par ti cular h i stor ical episo des. It isin thi s se nse t hat itca n be s aid  t hat econom i c theoryis an  a prio ri  sci enc e.

In  sha r p  cont rast ,the  new econ o m ic hi st o ria ns v iew h is tory  as a lab o ratory i n w h ich eco no mic t heoryi sc o ntinuallybei ng te s t ed. The ec o nomi c  q u antit ies ob served  at dif f ere nt  datesinh i story are  treatedl ike  t he h omogeneo us  emp ir ica ldata generatedby a con trolleda n d repe ata b le e x perime nt . They are u sed a s
 the_lobby’s tutelage_could do worse than_to ensure_constant_sunlight. Given_the_nature of the_scandal, the Department_of Justice is susceptible_to public pressure_and_thanks to Smith’s indispensable work, we are privy to the means employed by the_lobby_to thwart_similar_investigations_in the past. Armed with_this information, it may finally_be possible_to uphold what Smith calls “America’s defense line”_—_the US laws_that govern the operations of foreign agents.

Muhammad Idrees Ahmad_is the co-founder of Pulsemedia.org. He_can be reached_at_m.idrees_A T gmail D_O T com.

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"Rothbard's approach_to monetary history does not focus_on measurement but on motives."

In this volume,_Murray Rothbard has given us a_comprehensive history of money and_banking in_the United States, from colonial_times to World_War II,_the first to_explicitly use the interpretive framework of_Austrian monetary theory._But even aside from the explicitly_Austrian_theoretical framework undergirding_the_historical_narrative, this_book does not_"look"_or "feel"_like_standard economic histories as they have_been_written during the past quarter of a_century, under the influence_of_the positivistic "new economic_history" or "cliometrics."

The focus of_this latter approach to economic history,_which today_completely dominates_this field of inquiry, is on the application of high-powered statistical_methods to the analysis of quantitative_economic data. What profoundly_distinguishes Rothbard's_approach_from the prevailing_approach_is his_insistence upon treating economic quantities and processes_as unique_and complex historical events. Thus, he_employs the laws of_economic_theory in conjunction with other relevant_disciplines to trace each event back_to the nonquantifiable values and_goals_of_the particular actors involved.

In Rothbard's_view, economic laws can be relied_upon in interpreting_these nonrepeatable historical events because the validity_of_these laws — or, better yet,_their_truth — can be established with_certainty_by_praxeology, a science based on_the universal experience of human action_that is logically anterior to the experience of particular_historical episodes. It_is in this sense that_it_can_be said that economic theory is an a priori science.

In_sharp contrast,_the new economic_historians view history as a laboratory in which economic theory_is continually being tested. The economic quantities_observed at different dates in history are treated like the homogeneous_empirical data generated by a controlled and repeatable_experiment. They are used as