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George Gerald Reisman
Austrian School
Classical economics
George reisman.jpg
Birth January 13, 1937(1937-01-13)
New York City, New York
Nationality American
Influences Adam Smith, David Ricardo, James Mill, John Stuart Mill, Carl Menger, Eugen von Böhm-Bawerk, Ludwig von Mises, Ayn Rand, Frédéric Bastiat, Henry Hazlitt, Murray Rothbard
Contributions Primacy of profits, net consumption theory of profit

George Gerald Reisman (born January 13, 1937)[1] is Professor Emeritus of Economics at Pepperdine University and author of Capitalism: A Treatise on Economics (1996).[2] He is also the author of an earlier book, The Government Against the Economy (1979), which was praised by F.A. Hayek and Henry Hazlitt, the contents of which are mostly subsumed in his lengthy treatise, Capitalism.

In Capitalism, Reisman seeks to achieve a synthesis of the British Classical and Austrian Schools of Economics, uniting the doctrines of Adam Smith, David Ricardo, James Mill, and John Stuart Mill with those of Carl Menger, Eugen von Böhm-Bawerk, and Ludwig von Mises.

Reisman was born in New York City[1] and earned his Ph.D. from New York University under the direction of Ludwig von Mises, whose methodological work The Epistemological Problems of Economics Reisman translated from the German original into English. He is an outspoken advocate of free market or laissez-faire capitalism.

In the 1980s, with his wife, Edith Packer, J.D., Ph.D., he organized The Thomas Jefferson School of Philosophy, Economics, and Psychology, which held several conferences and seminars. Its lecturers included Leonard Peikoff, Edward Teller, Petr Beckmann, Hans Sennholz, Bernard Siegan, Anne Wortham, Robert Hessen, Allan Gotthelf, David Kelley, John Ridpath, Harry Binswanger, Edwin A. Locke, Walter E. Williams, Mary Ann Sures, Andrew Bernstein and Peter Schwartz. Attendees of these conferences include later Objectivist writers Tara Smith and Lindsay Perigo.[3]

Reisman was a student of Ayn Rand, whose influence on his thought and work is at least as great as that of his mentor Mises. He identifies himself as an Objectivist, though he is no longer affiliated with the Ayn Rand Institute due to a falling out with some of its senior members, particularly Harry Binswanger and Peter Schwartz.[4]


  1. ^ a b "George Gerald Reisman" (2002). Contemporary Authors Online. Gale. Retrieved on January 18, 2007.
  2. ^ Ottawa, IL: Jameson Books. ISBN 0-915463-73-3.
  3. ^ [1] The Thomas Jefferson School of Philosophy, Economics and Psychology
  4. ^ "ARI vs. George Reisman". Retrieved 2008-03-02.  

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Up to date as of January 14, 2010

From Wikiquote

George Reisman (born 1937-01-13) is an American economist and political author.




  • The green movement, in other words, is the red movement stripped of the veneer of reason and science and bent on the destruction of reason and science rather than take the trouble to learn what reason and science actually are. The green movement is the red movement no longer in its boisterous, arrogant youth, but in its demented old age.
    • Capitalism: A Treatise on Economics (1996)
  • Like the use of the word 'concupiscence' in an earlier age to describe sexual desire, the use of the word 'pollution' to describe essential aspects of the productive activities of an industrial society represents an attempt to defame an entirely proper human capacity by means of using an evil sounding name for it.
    • Capitalism: A Treatise on Economics (1996)

Economic competition

  • Whoever claims that economic competition represents "survival of the fittest" in the sense of the law of the jungle, provides the clearest possible evidence of his lack of knowledge of economics.
    • Capitalism: A Treatise on Economics (1996)
  • The truth is that economic competition is the very opposite of competition in the animal kingdom. It is not a competition in the grabbing off of scarce nature-given supplies, as it is in the animal kingdom. Rather, it is a competition in the positive creation of new and additional wealth.
    • Capitalism: A Treatise on Economics (1996)

Forced labor in Soviet Union

  • The slaves of socialism are slaves, but they are no one's property and therefore no one's loss.
    • Capitalism: A Treatise on Economics (1996)


  • Under communism (socialism), there is no incentive to supply people with anything they need or want, including safety.
    • Capitalism: A Treatise on Economics (1996)
  • Roy Cohn and Joe McCarthy will be redeemed when the people have taken back their government from the criminal alliance of Communists, Socialists, New Dealers and the Eisenhower-Dewey Republicans.

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