Microfoundations and Macroeconomics: An Austrian Perspective [Paperback]

Steven Horwitz (Author)

Book Description

Publication Date: November 26, 2009 | ISBN-10: 0415569575 | ISBN-13: 978-0415569576 | Edition: 1

In the past, Austrian economics has been seen as almost exclusively focused on microeconomics. Here,Steven Horwitz constructs a systematic presentation of what Austrian macroeconomics would look like. This original and highly accessible work will be of great value and interest to professional economists and students.

Editorial Reviews

Review

"Horwitz is not addressing only fellow economists: While this book is certainly not an introductory work... it is readily accessible to any reader...."
-Gene Callahan, "Ideas on Liberty

About the Author

Steven Horwitz is Associate Professor of Economics at St.Lawrence University, New York

Product Details

• Paperback: 290 pages
• Publisher: Routledge; 1 edition (November 26, 2009)
• Language: English
• ISBN-10: 0415569575
• ISBN-13: 978-0415569576
• Product Dimensions: 6.1 x 0.6 x 9.2 inches
• Shipping Weight: 1 pounds (View shipping rates and policies)
• Average Customer Review: 5.0 out of 5 stars  See all reviews (1 customer review)
• Amazon Best Sellers Rank: #1,029,233 in Books (See Top 100 in Books)

More About the Author

Steven Horwitz is Charles A. Dana Professor of Economics at St. Lawrence University in Canton, NY and an Affiliated Senior Scholar at the Mercatus Center in Arlington, VA. He is the author of two books, Microfoundations and Macroeconomics: An Austrian Perspective (Routledge, 2000) and Monetary Evolution, Free Banking, and Economic Order (Westview, 1992), and he has written extensively on Austrian economics, Hayekian political economy, monetary theory and history, and the economics and social theory of gender and the family. His work has been published in professional journals such as History of Political Economy, Southern Economic Journal, and The Cambridge Journal of Economics. He has also done public policy research for the Mercatus Center, Heartland Institute, Citizens for a Sound Economy, and the Cato Institute, with his most recent work being on the role of Wal-Mart and other big box stores in the aftermath of Hurricane Katrina. He has a PhD in Economics from George Mason University and an AB in Economics and Philosophy from The University of Michigan. He is currently working on a book on classical liberalism and the family.

Most Helpful Customer Reviews

21 of 23 people found the following review helpful

5.0 out of 5 stars Macroeconomics for the Real World April 5, 2008

By Dan the Book Man

Format:Hardcover

In this short work, Stephen Horwitz plants macroeconomics -- economics of whole economies, including their changes -- firmly in Austrian microeconomics - economics at the level of individuals and firms. He grafts Austrian trade cycle theory -- its explanation of business cycles -- onto monetary disequilibrium theory, that peculiarly non-Austrian theory of shifts in money championed by Leland Yeager, Axel Liejonhufvud, and Robert Greenfield.

Horwitz analyzes inflation and also deflation, focuses on how changes in money affect capital at a macroeconomic level. He illustrates how fractional reserve free banking fits into macroeconomics - mainly by showing how laissez faire in banking would avoid many of the pitfalls of regulated or central banking.

Horwitz's summary and appraisal of William H. Hutt's work on price rigidities is another reason to recommend this book.