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Economic Rockstar

Feb 5, 2015

Dr. Mark Thornton is an economist who lives in Auburn, Alabama. Mark is Senior Fellow at the Ludwig von Mises Institute and serves as the Book Review Editor of the Quarterly Journal of Austrian Economics.

Mark’s publications include The Economics of Prohibition; Tariffs, Blockades, and  Inflation: The Economics of the Civil War (2004), The Quotable Mises (2005),The Bastiat Collection (2007), An Essay on Economic Theory (2010), and The Bastiat Reader (2014).

Dr. Thornton served as the editor of the Austrian Economics Newsletter and as a member of the Editorial Board of the Journal of Libertarian Studies. He has served as a member of the graduate faculties of Auburn University and Columbus State University. He has also taught economics at Auburn University at Montgomery and Trinity University in Texas.

Mark served as Assistant Superintendent of Banking and economic adviser to Governor Fob James of Alabama (1997-1999), and he was awarded the University Research Award at Columbus State University in 2002. Mark is a graduate of St. Bonaventure University and received his PhD in economics from Auburn University.

Economics Themes:

In this interview, Mark mentions and discusses: Competition, Entrepreneurship, comparative economic systems, economic history, business cycles, value theory, population policy, purchasing power, deflation, monetary policy and bitcoins.

Economists and Economic Schools:

In this interview, Marina mentions: Ludwig von Miss, Friedrich Hayek, David Hume, Israel Kirzner, Carl Menger, Richard Cantillon, Friedrich von Wieser, Eugen von Böhm-Bawerk, Joseph Schumpeter, Fritz Machlup, Adam Smith, Anne-Robert-Jacques Turgot, Irving Fischer, Milton Friedman, Ben Bernanke, Scott Sumner, George Soros, Nassim Nicholas Taleb, Jim Rogers, Paul Krugman, Austrian Economics, Merchantilists, Physiocrats, French Liberals and Classical Economists.

Find out:

  • about the Greek and Roman philosophical roots of Austrian Economics.
  • about the importance of deduction and logic in Austrian thinking.
  • the limitations to Austrian Economic thinking.
  • about Irish economist Richard Cantillon, who remains quite elusive in economics.
  • who Richard Cantillon influenced through his writings.
  • why the Austrian School of Economics is given its name.
  • how von Mises' papers got in the hands of Nazi Germany and then the Soviets.
  • whether von Mises or Irving Fischer was right about the 1929 Stock Market Crash and the subsequent Great Depression.
  • who would support Bitcoins - von Mises or Fischer?
  • why bitcoins were created.