When Adam Smith and the English classicals promoted division of labor as the most important ingredient in economic development, it took Carl Menger and his Austrian successors to point out that error and promote the proper economic theory of production.
Original Article: How Carl Menger and the Austrians Helped to Steer Economic Theory in the Right Direction

Adam Smith, in his 1776 book The Wealth of Nations, stipulates the guiding principles of classical economic orthodoxy, establishing guiding principles that will guide the English economic paradigm. Despite a tradition more focused on Colbertism (between the sixteenth and seventeenth centuries) and physiocracy (from the eighteenth century onwards), classical economics managed to penetrate this French academic environment due to names such as Jean-Baptiste Say and Anne Robert Jacques Turgot.
In The Wealth of Nations, Adam Smith presents a comprehensive analysis of the principles of economics, outlining the foundations of economic liberalism and providing a conceptual structure of political economy that will influence the advent of several currents (outside the classical paradigm), which use

Near the end of the nineteenth century, the European intellectual scene witnessed a remarkable theoretical contest known as the “battle of methods,” or in German, Methodenstreit. This intellectual clash stood out due to the confrontation between the precepts of methodological and subjective individualization, equipped with a subjectivist and individualizing worldview of the method. It was represented by figures such as Carl Menger (considered the founder of the Austrian School and its theoretical bases) and the German Historical School, and it was guided by the collectivist and historicist assertions of economic science, whose exponents included Gustav von Schmoller and Lujo Brentano.
The conflict, prevalent in the 1880s and 1890s, was driven by fundamental differences regarding the

A century ago, the German reichsmark went into freefall as the most famous hyperinflation in history exploded the German economy. The repercussions still are with us.
Original Article: Unraveling the Roots of the German Mark’s Collapse

The 1920s in the Weimar Republic, Germany, constitute a unique chapter in the global economic narrative, a chaotic symphony of financial forces that culminated in one of the most prominent hyperinflations ever witnessed. In this ephemeral period, the upward curve of price indices tested the limits of economic understanding and monetary stability.
Between 1921 and 1923, the reichsmark—the German currency of the time—plunged into an inflationary spiral, where annual inflation rates exceeded hundreds of percent. In 1923, these rates catapulted into the spectacular realm of millions of percent in months. The fundamentals of this phenomenon, although multifaceted, are rooted in the unstable political and economic exacerbations in the face of the French occupation of the Ruhr. Like an economic