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An Introduction to Austrian Economics Paperback – 2008

3.5 out of 5 stars 8 customer reviews

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Product Details

  • Paperback
  • Publisher: Luwig von Mises Institute (2008)
  • ASIN: B001BSHNDC
  • Product Dimensions: 8.6 x 5.5 x 0.3 inches
  • Shipping Weight: 8 ounces
  • Average Customer Review: 3.5 out of 5 stars  See all reviews (8 customer reviews)
  • Amazon Best Sellers Rank: #1,875,124 in Books (See Top 100 in Books)

Customer Reviews

Top Customer Reviews

Format: Paperback
This is not meant to be an introduction to economics. If you want that go to Basic Economics 4th Ed: A Common Sense Guide to the Economy. If instead you want a general introduction to Austrian Economics, then I would recommend Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics or Lessons for the Young Economistor my personal favorite How an Economy Grows and Why It Crashes.

Now, as for understanding this book, the author Thomas C. Taylor is a professor of the School of Business and Accountancy at Wake Forest University, Winston-Salem, NC & writes mainly "scholarly texts" and articles. He is the leading authority on accounting theory in Austrian economics and as such a member of the editorial board of the Quarterly Journal of Austrian Economics.

This is the Table of Contents:
Introduction, pp. 7-11
Social Cooperation and Resource Allocation, pp. 12-21
Economic Calculation, pp. 22-39
The Subjective Theory of Value, pp. 40-51
The Market and Market Prices, pp. 52-62
Production in an Evenly Rotating Economy, pp. 63-73
From an Evenly Rotating Economy to the Real World, pp. 74-89
Inflation and the Business Trade Cycle, pp.
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Format: Unknown Binding
This book, as its title says, presents an overview of basic Austrian theory. Usually Introductions are created so readers can have a better understanding of the particular topic. Easy language, few complicated thinking, not too much jargon so ordinary people can have some idea what these great economic theories are about. It's not that book. The same Austrian economists explain their ideas more clearly than the author of this book. Not a single tangible example is mentioned.
I thought this book would be a good source to argue against Marxists and socialists who see every form of capitalism as exploitation. It's not that book either. However there is the chapter 'The Subjective Theory of Value' which is the foundation of the Austrian Economics could be used for that purpose. I found the chapter about inflation not fitted. Anyway I'll keep looking for literature that could help me to accomplish my mission.
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Format: Kindle Edition Verified Purchase
If the reader expects a short and understandable introduction to Austrian Economics (like I was), he or she will be disappointed.

The book is in no way easily understandable, and contains mostly introductions to the philosophical and methodological side (Praxeology) of the Austrian school. Not so much on the real economics side of the school.

However the book introduces a good introduction to some of the great Austrians and their thoughts.

If the reader is looking for a better introduction to Austrian Economics I would recommend:
"Lessons for the young economist" or "How an economy grows and why it crashes"
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Format: Paperback
As the title suggests, this is an introduction to Austrian Economics. The author does a good job of explaining the theory of marginal utility and the role that prices play as indicators on how resources are allocated. This is an introductory book in which most concepts are taken from Ludwig von Mises's Human Action. It is not, however, a Beginner's guide to Austrian Economics. For that, I would recommend Essentials of Economics by Faustino Ballve or Economics for Real People.
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