" The first well-known version of anarcho-capitalism was formulated by Austrian School economist and libertarian Murray Rothbard in the mid-twentieth century, synthesizing elements from the Austrian School of economics, classical liberalism, and nineteenth century American individualist anarchists Lysander Spooner and Benjamin Tucker ( rejecting their labor theory of value and the normative implications they derived from it ).

The Austrian School of economics is a school of economic thought positing that the only appropriate means to understand economic events is by logically studying the intentions of individual economic decision-makers, based on certain fundamental truths.

* Austrian Economics Concise encyclopedia of economics on Econlib

* Stockholm school ( economics ) – the school of economic thought whose antithesis is the gold standard centered Austrian School of Economics

According to Kevin Carson ( himself a mutualist ), " most people who call themselves " individualist anarchists " today are followers of Murray Rothbard's Austrian economics.

Murray Rothbard, a student of Ludwig von Mises, combined the Austrian school economics of his teacher with the absolutist views of human rights and rejection of the state he had absorbed from studying the individualist American anarchists of the 19th century such as Lysander Spooner and Benjamin Tucker.

Though his research interests were always in line with those of the German historicists, with a strong emphasis on interpreting economic history, Weber's defence of " methodological individualism " in the social sciences represented an important break with that school and an embracing of many of the arguments that had been made against the historicists by Carl Menger, the founder of the Austrian School of economics, in the context of the academic Methodenstreit (" debate over methods ") of the late 19th century.

In 1971, Austrian School libertarian economist Murray Rothbard criticized Friedman's efforts to make the government more efficient as detrimental to individual liberty, concluding "... as we examine Milton Friedman ’ s credentials to be the leader of free-market economics, we arrive at the chilling conclusion that it is difficult to consider him a free-market economist at all.

Murray Rothbard, representing the Austrian School of economics, describes it this way:

Capitalism: A Treatise on Economics by George Reisman ( 1996 ) attempts to integrate Objectivist methodology and insights with both Classical and Austrian economics.

Socratic Puzzles ( 1997 ) is a collection of papers that range in topic from Ayn Rand and Austrian economics to animal rights, while his last production, Invariances ( 2001 ), applies insights from physics and biology to questions of objectivity in such areas as the nature of necessity and moral value.

Classical economics, neoclassical economics, and the Austrian School of economics argue that market mechanisms are reliable means of resolving unemployment.

Similarly, Hayek and others from the Austrian school of economics argue that if governments intervene through monetary policy to lower interest rates this will exacerbate unemployment by preventing the market from responding effectively.

* Carl Menger 1840 – 1921 ; economist ; lawyer ; founder of the Austrian School of economics

This can be contrasted with the monetary policy advocated by supply-side economics and the Austrian School which are based on a " value of money " target ( albeit from different ends of the formula ).

The most complete rejection of the concept of social justice comes from Friedrich Hayek of the Austrian School of economics:

The University of Vienna was the cradle of the Austrian School of economics.

In classical, neoclassical and Austrian economics, Crusoe is regularly used to illustrate the theory of production and choice in the absence of trade, money and prices.

The earliest precursor to modern complex systems theory can be found in the classical political economy of the Scottish Enlightenment, later developed by the Austrian school of economics, which says that order in market systems is spontaneous ( or emergent ) in that it is the result of human action, but not the execution of any human design.

Upon this the Austrian school developed from the 19th to the early 20th century the economic calculation problem, along with the concept of dispersed knowledge, which were to fuel debates against the then-dominant Keynesian economics.

** Austrian School of economics

The Crown Prince, however, succeeded in effecting the retreat in good order, and in the decisive Battle of Königgratz ( 3 July 1866 ) he held the extreme left of the Austrian position.

* EFSA GMO Panel deliberations on the Austrian report " Biological effects of transgenic maize NK603 x MON 810 fed in long term reproduction studies in mice " ( Part of the minutes of the plenary meeting held on 3 – 4 December 2008, see on page 9 )

Johann Georg Albrechtsberger ( 3 February 1736 – 7 March 1809 ) was an Austrian musician who was born at Klosterneuburg, near Vienna.

Ludwig Alois Friedrich Ritter von Köchel (; 14 January 1800 – 3 June 1877 ) was an Austrian musicologist, writer, composer, botanist and publisher.

At the Austrian Court in Vienna in the late 17th century ( 1698 ) ladies were conducted around the room to the tune of a 2-beat measure, which then became the 3 / 4 of the Nach Tanz ( After Dance ), upon which couples got into the position for the Weller and waltzed around the room with gliding steps as in an engraving of the Wirtschaft ( Inn Festival ) given for Peter the Great.

By November 3, the city of Milan itself had surrendered, although the Austrian governor, Count Wirich Philipp von Daun, still held the fortress.

Two days later the French withdrew to a position near Guastalla in response to Austrian maneuvers, but one detachment of nearly 3, 000 men was surrounded and captured by the advancing Austrians.

* January 3 – Alois Hitler, Austrian civil servant, father of Adolf Hitler ( b. 1837 )

* July 3 – Theodor Herzl, Austrian founder of Zionism ( b. 1860 )

* July 3 – Battle of Königgratz: the Prussian army under King Wilhelm and Helmuth von Moltke defeats the Austrian army of Ludwig von Benedek, leading to a decisive Prussian victory in the Austro-Prussian War.

* July 3 – Franz Kafka, Austrian writer ( d. 1924 )

* December 3 – Anton Webern, Austrian composer ( d. 1945 )

* September 3 – Ferdinand Porsche, Austrian automotive engineer ( d. 1951 )

* February 3 – Georg Trakl, Austrian poet ( d. 1914 )

* September 3 – Fritz Pregl, Austrian chemist, Nobel Prize laureate ( d. 1930 )

* July 3 – Carlos Kleiber, Austrian conductor ( d. 2004 )

* August 3 – Archduke Albert, Austrian general ( d. 1895 )

* July 3 – Anna Maria Mozart, Austrian mother to the Mozarts ( b. 1720 )

* February 3 – Johann Georg Albrechtsberger, Austrian musician ( d. 1809 )

* May 3 – Heinrich Ignaz Franz Biber, Austrian composer ( b. 1644 )

The local government had amassed debts of 1. 3 million Austrian schillings ( AS ) against cash reserves of 40, 000 AS.

The survey found that Austrian men had the highest number of sex partners of males globally with 29. 3 sexual partners on average.

Anton Webern in Stettin, October 1912 ( 3 December 1883 – 15 September 1945 ) was an Austrian composer and conductor.

Although Austrian farmers provide about 80 % of domestic food requirements, the agricultural contribution to gross domestic product ( GDP ) has declined since 1950 to less than 3 %.