Customer Reviews

Man, Economy, and State: With Power and Market - Scholar's Edition

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This was the first work of Rothbard I had read. I did not know if this would be the best of places to start, as others had mentioned Mises "Human Action" as a great introduction to Austrian economics as well. If you are in the same situation as I was, let me tell you this is an excellent tome to begin with. Rothbard has added to, and improved upon many of Mises teachings with this work. Rothbard starts with absolute foundation for human action, and from here, builds up his theory piece by piece. Again, I thought I might be in over my head with this book, but the pace is excellent and never leaves the reader behind. Rothbard has taken the Austrian school of thought, reworked many of the ideas, and turned out a much more cohesive and solidified theory of economics based on praxeology. The authors references/annotations appear at the bottom of each page, which I find extremely convenient, as flipping to the back of a 1400 page book every time you wanted additional information would be quite bothersome.

I have since completely reworked my views on production, interest, and monopoly theory. Really, this is a stellar piece of work, and I can't do it enough justice with the review here. Suffice it to say, if you have not had an opportunity to read Mises or Rothbard, their ideas will really challenge, and more likely than not, change your perspective on economics in dramatic fashion. I am just sorry that I did not have the opportunity to study the Austrian school more thoroughly in college.

The construction of the book is also top notch. After reading, and re-reading, through the book's 1400 pages or so (and subjecting it to other abuses like spilled coffee), the bindings/covers are still holding strong. This is a book that you will want to have for quite some time and revisit often. The margins are also wide enough to add your own annotations, which I love to do with works of this nature.

I am a college graduate though not in economics. This book was a beast to read... all 1369 pages of it! The kicker though? I did it... and I actually got some (hopefully a good bit) of it. Rothbard gets the message across even to someone with no real background in economics and in a way that I actually was able to hang in for the entire 1369 pages. I couldn't do it with Mises, I was lost 60 pages into Human Action. This book is not for the faint of heart and you most likely are not going to finish it in an hour and a half, but if you do finish it... you'll come out with a much better understanding of the free market.

I will echo what is said in the preface of this book- Since World War I, there have been very few treatises on Economics. Instead, we see lots of attempts to compartmentalize the discipline and obfuscate it beyond all comprehension, rather than extend core economic principles into other fields. The result is that the individuals who actually PARTICIPATE in the economy are discouraged from learning anything about it, and instead rely on economic "shamans" in government to steer the economy from the top down. If you don't revisit the basics now and then, you will find yourself running off a cliff after embracing a flawed interpretation of theories that nobody bothers to revisit.

Just to note, this book has been released for free in electronic form at the mises.org website (epub, pdf, html) for general use. Feel free to preview it before adding it to your bookshelf!
mises.org/resources/1082/Man-Economy-and-State-with-Power-and-Market

Murrays epic is not just for economics students and professionals but is written for the curious and mindful go getter as well. It's dry in spots but quite humorous in others and is absolutely authoritative in describing the humanness of market transactions. This book goes way beyond economics into principled philosophical ideals and real world wisdom as opposed to the pseudo wisdom of the conventional status quo. It's the sequel to Mises " Human Action " by a master thinker and educator. Good Luck.

There is no better explanation of classical economics available in the world today. Written as a textbook, Rothbard explains in plain words, how an economy functions. This is not a book trying to convince you of the superiority of a particular economic system. Although you will be. This is also an expose on the inconsistencies of Marxism, Keynsianism and the Friedmanites.
There are many parts that will cause you pause, concepts you may have been taught or convinced of (monopolies especially) are reframed and given a new dimension.
This is a long book (1431 pgs including the index and bibliography), but the writing is crisp and the explanations and examples are excellent. The binding is top notch as well.
Murray Rothbard may have been the best political economist of the twentieth century. He definitely was the best teacher of the benefits of an education in Austrian economics and Anarcho-Capitalism. He will be sorely missed.

Current events have led to Austrian economics making a resurgence in mainstream thought, and Rothbard's treatise Man, Economy, and State is often considered one of the cornerstone works of the Austrian school. Be warned though, this book is fairly deep and will be somewhat confusing to those without a decent background in economic principles. It was written several decades ago, and some of the language is a bit obsolete and confusing. That being said, if you possess a logical and rational mind, the guiding principles of praxeology and free markets will be easy to understand, even if the specifics regarding the chain of production will not. I don't have much training in economics other than reading articles by the Austrians and watching Youtube videos at the Mises Institute website. This was my first real book on Austrian economics, and I'm hoping to read more in the future. It's a must-read if you want to really know about the Austrian school, but otherwise it's a little bland.

Note on pricing: You can usually get this book for much cheaper than the Amazon price through the LVMI store over at mises.org.

This book was discussed on "Free Markets With Dr. Mike Beitler," a libertarian internet-radio show. Dr. Beitler interviewed Dr. David Gordon on the Mises Institute, the author of the Essential Rothbard. I don't agree with everything Rothbard says in this book, but it's the most thought-provoking book I've read since Ayn Rand's books.

I recommend this book along with Beitler's Rational Individualism: A Moral Argument for Limited Government & Capitalism. Rothbard, Rand, and Beitler will make you think about your most basic assumptions.