March 31, 2011
The world center of gravity of the Austrian-economics movement has long been the United States, especially since Ludwig von Mises arrived there on August the 3rd, at the age of 58, in a turbulent 1940.
The 1998 Spanish publication of Money, Bank Credit, and Economic Cycles, by Jesús Huerta de Soto — followed by the English translation in 2006 — then helped to revive European claims of an Austrian equality with the United States. This is reinforced by the trans-Atlantic returns of Hans-Hermann Hoppe and Guido Hülsmann, after long periods of residence in North America.
In particular, a burgeoning growth of the Spanish echelon of the global Austrian movement — initially under the wing of Professor Huerta de Soto — may be starting to prove that a few years in the United States is becoming an option, rather than a requirement, for an Austrian academic to be taken seriously as a heavyweight intellectual force.
Thus we discover the rising talent of Philipp Bagus, and the publication of his landmark book, The Tragedy of the Euro.
This brilliant monograph, written in crisp classical English, flows like a rising tide.