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| Author | : |
| Publisher | : Ludwig von Mises Institute |
| Total Pages | : 262 |
| Release | : |
| Genre | : |
| ISBN | : 1610164989 |
| Author | : Randall G. Holcombe |
| Publisher | : Edward Elgar Publishing |
| Total Pages | : 160 |
| Release | : 2020-07-31 |
| Genre | : Business & Economics |
| ISBN | : 1789909643 |
Presenting a concise overview of the post-war decline in popularity of the Austrian school of economics and its subsequent revival in the late twentieth century, this updated second edition offers a theoretical and historical introduction to the ideas of the Austrian school and its intellectually distinguishing qualities. This Advanced Introduction considers the field’s key originators and proponents and reflects on the acceleration in interest in the last two decades.
| Author | : Steven Horwitz |
| Publisher | : Cato Institute |
| Total Pages | : 167 |
| Release | : 2020-07-14 |
| Genre | : Business & Economics |
| ISBN | : 1948647966 |
What if economics began with people? Choice is an essential feature of the human condition. Every time we embark on a given plan of action, big or small, we make a choice. Whereas many economists model people’s behavior using idealized assumptions, economists of the Austrian School don’t. The Austrian School of Economics takes people as they are and constructs economic theories by examining the logical structure of the choices they make. Austrian Economics: An Introduction book explains the Austrian School’s insights on a wide range of economic topics and introduces some of its key thinkers. It also explains the relationship between the Austrian School and mainstream economics and delves into the criticisms that Austrian School economists have mounted against communist and socialist economic thought.
| Author | : Gene Callahan |
| Publisher | : Ludwig von Mises Institute |
| Total Pages | : 354 |
| Release | : 2002 |
| Genre | : Austrian school of economics |
| ISBN | : 1610164679 |
| Author | : Gerald P O'Driscoll Jr |
| Publisher | : Routledge |
| Total Pages | : 466 |
| Release | : 2014-12-05 |
| Genre | : Business & Economics |
| ISBN | : 1317691350 |
Austrian Economics Re-examined: The Economics of Time and Ignorance is an expanded version of the 1996 edition of The Economics of Time and Ignorance. This work is a classic statement of the role of subjectivism, radical uncertainty and change through real time in Austrian economics specifically, and in modern economics more generally. The new book contains the full text and Introductions of the earlier edition as well as the comprehensive previously-unpublished essay "What is Austrian Economics?" and a new Introduction. The essay is a comprehensive overview of the central themes of the book from a somewhat different perspective than in the book itself. It supplements the analysis in the book. The new Introduction explains that the 2007-8 financial crisis and recent developments in behavioural economics have made the book more relevant than ever before. Austrian Economic Re-examined develops and systematizes the fundamental principles of the Austrian tradition to the analysis of rational expectations, business cycles, monetary theory competition and monopoly, and capital theory. The Open Access version of this book, available at https://www.taylorfrancis.com/books/oa-edit/10.4324/9781315776736, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license.
| Author | : Ludwig Mises |
| Publisher | : Ludwig von Mises Institute |
| Total Pages | : 25 |
| Release | : 2007 |
| Genre | : Business & Economics |
| ISBN | : 1610161262 |
| Author | : Peter J. Boettke |
| Publisher | : |
| Total Pages | : 833 |
| Release | : 2015 |
| Genre | : Business & Economics |
| ISBN | : 0199811768 |
The Austrian School of Economics is an intellectual tradition in economics and political economy dating back to Carl Menger in the late-19th century. Menger stressed the subjective nature of value in the individual decision calculus. Individual choices are indeed made on the margin, but the evaluations of rank ordering of ends sought in the act of choice are subjective to individual chooser. For Menger, the economic calculus was about scarce means being deployed to pursue an individual's highest valued ends. The act of choice is guided by subjective assessments of the individual, and is open ended as the individual is constantly discovering what ends to pursue, and learning the most effective way to use the means available to satisfy those ends. This school of economic thinking spread outside of Austria to the rest of Europe and the United States in the early-20th century and continued to develop and gain followers, establishing itself as a major stream of heterodox economics. The Oxford Handbook of Austrian Economics provides an overview of this school and its theories. The various contributions discussed in this book all reflect a tension between the Austrian School's orthodox argumentative structure (rational choice and invisible hand) and its addressing of a heterodox problem situations (uncertainty, differential knowledge, ceaseless change). The Austrian economists from the founders to today seek to derive the invisible hand theorem from the rational choice postulate via institutional analysis in a persistent and consistent manner. Scholars and students working in the field of History of Economic Thought, those following heterodox approaches, and those both familiar with the Austrian School or looking to learn more will find much to learn in this comprehensive volume.
| Author | : Thomas Mayer |
| Publisher | : Routledge |
| Total Pages | : 298 |
| Release | : 2017-11-10 |
| Genre | : Business & Economics |
| ISBN | : 135168552X |
The financial crisis has exposed severe shortcomings in mainstream monetary economics and modern finance. It is surprising that these shortcomings have not led to a wider debate about the need to overhaul these theories. Instead, mainstream economists have closed ranks to defend existing theories and public authorities have expanded their interference in markets. This book investigates the problems associated with mainstream monetary economics and finance, and proposes alternatives based on the Austrian school of economics. This school emanated from the work of the nineteenth-century Austrian economist Carl Menger and was developed further by Eugen von Böhm-Bawerk, Ludwig von Mises, and Friedrich August von Hayek. In monetary economics, the Austrian school regards the creation of money by banks through credit extension as a key source of economic instability. From this follows the need for a comprehensive reform of our present monetary system. In a new monetary order, money could be issued by both public and private institutions, and there would be no need for fractional reserve banking. Instead of creating money, banks would intermediate it. In finance, the Austrian school rejects the notion of rational expectations and measurable risk. Individuals use their subjective knowledge to gather and evaluate information, and they act in a world of radical uncertainty. Hence, markets are not "efficient" nor can portfolios be built on the basis of known probability distributions of asset prices as described in the modern finance literature. This book explores the need for a new theoretical foundation for asset pricing and investment management that will give practitioners more useful orientation.
| Author | : Karen I. Vaughn |
| Publisher | : Cambridge University Press |
| Total Pages | : 218 |
| Release | : 1998-01-28 |
| Genre | : Business & Economics |
| ISBN | : 9780521637657 |
This book examines the development of the ideas of the new Austrian school from its beginnings in Vienna in the 1870s to the present. It focuses primarily on showing how the coherent theme that emerges from the thought of Carl Menger, Ludwig von Mises, Friedrich Hayek, Ludwig Lachmann, Israel Kirzner and a variety of new younger Austrians is an examination of the implications of time and ignorance (or processes and knowledge) for economic theory.
| Author | : H. Hagemann |
| Publisher | : Springer |
| Total Pages | : 345 |
| Release | : 2010-05-28 |
| Genre | : Business & Economics |
| ISBN | : 0230281613 |
This book analyzes both the consistent and changing elements in the Austrian School of Economics since its foundation in the late 19th Century up to the recent offspring of this School. It investigates the dynamic metamorphosis of the school, mainly with reference to its contact with representatives of history of economic thought.
