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Redeeming Economics: Rediscovering the Missing Element (Culture of Enterprise) Hardcover – October 18, 2010


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Redeeming Economics: Rediscovering the Missing Element (Culture of Enterprise) + Toward a Truly Free Market: A Distributist Perspective on the Role of Government, Taxes, Health Care, Deficits, and More (Culture of Enterprise)
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Product Details

  • Series: Culture of Enterprise
  • Hardcover: 400 pages
  • Publisher: Intercollegiate Studies Institute; 1 edition (October 18, 2010)
  • Language: English
  • ISBN-10: 1932236945
  • ISBN-13: 978-1932236941
  • Product Dimensions: 9.2 x 6.4 x 1.5 inches
  • Shipping Weight: 1.8 pounds (View shipping rates and policies)
  • Average Customer Review: 4.9 out of 5 stars  See all reviews (11 customer reviews)
  • Amazon Best Sellers Rank: #537,680 in Books (See Top 100 in Books)

Editorial Reviews

Review

“The scope of Mueller’s intellectual ambition in this book is truly astonishing, as is the scope of the research involved. . . . People should invest the time needed to read, absorb, and promote this important book.” —Jennifer Roback Morse, PhD, in The Family in America: A Journal of Public Policy



“Both Washington and Wall Street sorely need Redeeming Economics.” —Larry Kudlow



“Bold, interesting, and thought-provoking—a book that could fundamentally reground the discipline of economics and reorient the study of political economy.” —William Kristol, the Weekly Standard



“Mueller opens discussion on essential topics for people of all faiths, political orientations, and worldviews and does so in ways that probe the limits of rational choice and foster interdisciplinary conversation.” —Choice



“Mueller is that rarest of thinkers and writers: one who can make the ‘dismal science’ thoroughly engaging at a very human level—a man who knows his economics but never loses sight of people amidst a forest of data.” —George Weigel, Distinguished Senior Fellow at the Ethics and Public Policy Center

--This text refers to the Paperback edition.

About the Author

John D. Mueller is director of the Economics and Ethics Program at the Ethics and Public Policy Center, and president of LBMC LLC, a firm specializing in economic and financial-market forecasting and economic policy analysis. Mueller’s articles have appeared in the Wall Street Journal, the Weekly Standard, the Washington Post, and the Harvard Business Review. He and his wife live in Washington, D.C.


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Customer Reviews

4.9 out of 5 stars
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This is a great book if you have a higher level of interest in economics.
Settler
In the midst of each presentation Mueller provides a claim for or against each theory and the ideas for reformation of current economic policy.
Kamilah Peebles
Clear, concise writing, and common sense approach are a breath of fresh air after all the other drivel that's out there.
Lydia

Most Helpful Customer Reviews

47 of 47 people found the following review helpful By mcook10128 on March 26, 2011
Format: Hardcover
I come to this book via a circuitous background. I am a mathematician by training and worked on Wall Street as a strategist, portfolio manager, and risk analyst for a buy side equity firm until it folded in December 2008, a casualty of the financial crisis. In that context I studied a lot of economics on my own, reading Ricardo, George, Smith, Samuelson, Mises, Hayek, Keynes, Rothbard, Friedman, John Paul II, etc. Talking to Wall Street economists and strategists, juggling Keynesian, monetarist, and supply side forecasts, and incorporating them into our investment views (mostly by ignoring them!) was an education in itself. In any event, in the area of economics I am basically self-taught.

Along the way, I have come to believe more and more deeply that a free economy is the path to prosperity and the only moral social system. (Footnote: our current system is very far from a free economy - I would characterize it as "crony capitalism", or "corporatism".) I found the Austrian school of economics to be the most intellectually coherent, and its critique of "scientism" to be especially relevant in the devastation caused, in part, by overreliance on quantitative models of human behaviour.

That said, Mueller is no Austrian, and views Austrianism merely as one branch of the neo-classical school, which is not unfair. His approach to economics is based on Aristotle, Augustine, and Aquinas (the three A's), and he argues convincingly that the synthesis of these three sources contains and supercedes current theory. Along the way, he demolishes Adam Smith's contribution, and shows it to be a step backward from what was already known to the Scholastic School (and what he in fact taught before he wrote Wealth of Nations).
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18 of 19 people found the following review helpful By Stephen J. Haessler on April 16, 2011
Format: Hardcover Verified Purchase
I've taught economics and statistics at the high school level for thirty-five years, the last twenty-five in Jesuit institutions. I wrote Apostles and Markets as a way to bridge what I perceived to be a gap between Catholic social doctrine and sound economic analysis. As Mr. Mueller pointed out when he generously looked at some of the A&M lessons, my first attempt was trying to put a round peg (Chicago school economic analysis) in a square hole (Catholic social doctrines). He was correct. Mr. Mueller's book is the most profound book on the subject that I've ever seen. The enterprise to recover a coherent synthesis of economics and morality is a tremendous gift. It is a triumph of clearly expressed scholarship. It has inspired me to begin work on a second edition of Apostles and Markets, one that builds high school lessons on all four pillars of economic analysis from the Catholic scholastic synthesis. Economic freedom, properly understood, is a key element in this synthesis. Thank you John D. Mueller.
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12 of 13 people found the following review helpful By Lydia on April 3, 2011
Format: Hardcover Verified Purchase
Can't recommend this book enough. Clear, concise writing, and common sense approach are a breath of fresh air after all the other drivel that's out there. Do give this a go. Bravo Mr. Mueller!
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7 of 7 people found the following review helpful By Russ White on September 14, 2012
Format: Hardcover
Economics is a strange brew of guesswork, massive formulas, and social philosophy --all reasons the average person doesn't want to lift the lid and see what's inside. Here, however, is a book that puts the worldview of economics first, and the math last, so that the average reader can understand the problems economics grapples with, and relate it to their everyday lives in some surprising ways.

Meuller's argument is, at essence, that economists have looked into the same box of formulas and social philosophy and decided it's too difficult to manage all in one piece --so they've simply removed all the humans from their economic systems. This leaves them with very tidy systems with which to predict the future, but those systems turn out to be completely wrong because they've left out the only piece of economics that really matters, the people. Leaving people out economics almost seems like an absurd idea, but as the author explains the history of economic thought, you can see the reasoning behind the removal.
If you see people as mere "meat machines," who are not really capable of rising above their environment, this removal almost makes sense. But the reality is that humans are not, in fact, "meat machines," capable of being predicted and controlled through various market forces. Economics, then, comes down to a question of worldviews, like most other questions do -- the crucial question becomes why, not in the sense of "how," but in the sense of "purpose." What is the intent behind the individual's economic activity.

Returning to this question is ever more important in our current age, where we seem to think "big data" is somehow going to find the "ghost in the machine," or prove there is no ghost after all.
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2 of 2 people found the following review helpful By JL on December 28, 2012
Format: Hardcover Verified Purchase
Profound & Perhaps the best current writing on Economics . "The missing element is one that accounts for relationships .... the Love/Hate - Gifts/ Crimes element . It is the key to making economics whole again. "

"This book unearths a forgotten piece of the puzzle that could prove to be the holy grail of modern economics." Edwin Feulner, president of Heritage Foundation.

This is not for the frivolous reader .
See an introduction by the author, John D. Mueller : on .isi.org/books/bookdetail.aspx?id=60260279-5db7-4061-9549-71356eb6c530
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