He refined and formalized the subjective theory of value, which exploded the classical economic school when applied to the "paradox of thrift" alongside Menger's marginal theory that stumped Keynesians and the classical economists.
He completed the theory of money, and integrated it into macroeconomics and business cycle theory, which essentially revived the Austrian School again after Keynes and WWI.
He conceived of an epistemological foundation for the sciences of human action called "praxeology" to replace "sociology" - economic theory would only be one branch of this science.
By challenging the socialists with the economic calculation problem under a socialist commonwealth in his book Socialism he destroyed the theory of socialism absolutely. Only the most devout socialists will reject the problem, and never coherently.
He labored for freedom, justice and sound money; fought totalitarianism in Europe when it was under the thumbs of Stalin and Hitler. Eventually they chased him out of Europe and into the hands of the American socialists in academia who marginalized him by never letting him have a real position as a professor.
He never compromised on his ideas and principles and always believed and promoted that we should never give in to evil. As a result, he was a consistent advocate of the sound money principle and powerful critic of big government, central banking, regulatory bodies, and bureaucracy.
~ Edmund Bugos, Facebook post, April 18, 2021
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