Abstract
Austrian economics is a valuable resource for historians. Scholars informed by Austrian insights can make better sense of historical phenomena, and can provide far better insight into economic history, than those who lack this background. It is impossible to understand events such as the Great Depression with the assistance of no theory at all, so it is essential that the historian adopt the correct one. Sound theory also prevents the historian from falling into a wide array of fallacies—about the stimulative effects of public works projects or the economic benefits of war, for instance—that have insinuated their way into so much scholarly and popular writing.
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