Edward Chancellor is the author of Devil Take the Hindmost: A History of Financial Speculation and the editor of Capital Returns: 
Investing Through the Capital Cycle: A Money Manager’s Reports 
2002–2015. He is currently writing a history of interest. (May 2020)

IN THE REVIEW

The Long Shadow of the Austrian School

The first meeting of the Mont Pelerin Society with founding members Friedrich Hayek (left, at desk) and Ludwig von Mises (front row, second from right), Mont Pèlerin, Switzerland, 1947

The Marginal Revolutionaries: How Austrian Economists Fought the War of Ideas

by Janek Wasserman
In view of the failure of modern economists to anticipate the Great Recession of 2008, the worst financial shock since the 1930s, it was perhaps inevitable that the Austrian School, a once favored branch of economics that had made a specialty of analyzing booms and busts, would enjoy a revival …

The Man Who Invented Money

A satirical engraving showing panic in Paris following the failure of John Law’s financial scheme, 1720

John Law: A Scottish Adventurer of the Eighteenth Century

by James Buchan
In 1694 a young Scotsman convicted of murder in London fled to the Continent. Two decades later he turned up in Paris, where he founded a national bank and headed a company that incorporated all of France’s overseas trading monopolies and absorbed the country’s entire national debt. The bank’s new …