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An Introduction to Economic Reasoning Paperback – September 6, 2016

by David Gordon (Author)

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This high-school text, published in May 2000, is aimed at teaching the intelligent young reader how to think about economic problems in a manner consistent with the Austrian School tradition. Its chapters on action, preference, demand and supply, value theory, money, and price controls emphasize deductive logic, the market process, and the failures of government intervention.As the only text of its kind, this book is engaging, funny, filled with examples, and never talks down to the student. It is perfect for homeschoolers, but every student, young or old, will benefit from it. Indeed, a student familiar with its contents will be fully prepared to see through the fallacies of the introductory economics texts used at the college level.

Print length

208 pages
Language

English
Publication date

September 6, 2016
Dimensions

8 x 0.47 x 10 inches
ISBN-10

0945466285
ISBN-13

978-0945466284
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Product details

Publisher ‏ : ‎ Ludwig von Mises Institute (September 6, 2016)
Language ‏ : ‎ English
Paperback ‏ : ‎ 208 pages
ISBN-10 ‏ : ‎ 0945466285
ISBN-13 ‏ : ‎ 978-0945466284
Item Weight ‏ : ‎ 1.2 pounds
Dimensions ‏ : ‎ 8 x 0.47 x 10 inches

Best Sellers Rank: #1,689,458 in Books (See Top 100 in Books)
- #2,502 in Theory of Economics
- #6,333 in Business Education & Reference (Books)

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Wieland E. Feierabend

Perfect for High School Homeschool Economics

Reviewed in the United States on September 20, 2020

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This was perfect for an introductory high school homeschool economics class. The text is really engaging and leads to good discussions (we read the book aloud together), also the chapter questions make good assignments for deeper insight. It definitely comes from a conservative/libertarian perspective, but arguably that is the only perspective that corresponds to a coherent theory of economics.

One person found this helpful

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Daniel

Mandatory reading for gaining an easy understanding of economics

Reviewed in the United States on January 18, 2013

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This book is a must for anyone that wants to learn about economics in a non intimidating book. The author ensures the book is easy to read and attempts to make a humorous effort to maintain your attention. This book will leave you with an understanding that will allow you to make a reasonable economic argument with someone and make sense as oppose to those that think economics in ONLY about "supply and demand". The reading level of this book is arguably at a junior high level. I wish this was mandatory reading in school. I cannot emphasize enough how useful this book is. You will not regret reading it.

2 people found this helpful

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D. Cole

Fantastic introduction to Austrian economics

Reviewed in the United States on April 2, 2015

Verified Purchase

Fantastic introduction to Austrian economics. If your new to the concept of logic, it might test your abilities, but remains easy to understand.

One person found this helpful

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Steve Jackson

Basic Economics Made Easy

Reviewed in the United States on March 29, 2003

AN INTRODUCTION TO ECONOMIC REASONING is probably the first book you want to read if you are planning on studying economics. Although this work is called an introduction to "economic reasoning," it is perhaps more accurately considered an introduction to economics as such.
This book is quite basic, and could be profitably used by high school students or anyone without a knowledge of economics. It hits many of the basic topics in economics, such as marginal utility, supply and demand, and money. It is from the Austrian perspective, so it could save a high schooler from years of unlearning. The only drawback is that although it contains many useful study questions, it doesn't include the answers (nor is there, from what I can tell, a teacher's guide).
Dr. David Gordon is associated with the Ludwig von Mises Institute, the nation's premier free enterprise think tank. The Institute has published another work - ECONOMICS FOR REAL PEOPLE by Gene Callahan - that is more advanced and would make an excellent follow-up work.

18 people found this helpful

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Tim Miller

Crystal Clear and Amusing

Reviewed in the United States on September 11, 2014

David Gordon manages to be entertaining and delightful both in person and via book! This has become one of my favorite reads on economics and I would highly recommend it to anyone interested in a solid yet unburdensome introduction to the subject.

One person found this helpful

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Reinhard Stiebler

Did you always want to understand what economics was about..

Reviewed in the United States on October 12, 2000

... but found nobody whom to ask?
This book is definitely the way out. It has everything a beginner's textbook is asking for. Witty writing, step-by-step explanations, practical examples. By the way you understand what is meant with concepts and theories economists use to explain to us why a certain policy should be pursued or abolished, like the labor theory of value, price controls, minimum wages, and different currency systems. And before you know you understand what is behind the arguments of current policy issues, what are the true and the false arguments, misleading paths, right or wrong theories behind them.
The author is not soft on the issues, but uses logical reasoning and explains in every step the possible fallacies. In the end - if one likes it or not - one has to follow his cogent conclusions about the way markets work in a free society and how government intervention affects those outcomes.

21 people found this helpful

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Amazon Customer

Good intro for a novice

Reviewed in the United States on May 27, 2003

This is a very good book for a high school economics 101 course. This book should be read by every high school student. The ideas are put forth in a very straight foward manner that is almost too easy to understand. If you have any knowledge about ecomomics, do not get this. You will be board with the concepts Gordon goes over.

9 people found this helpful

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pewis

A Sectarian View on Economics

Reviewed in the United States on May 28, 2005

As the author states in the introduction this book is written from the viewpoint of the Austrian School of economics. More precisely it follows the teachings of Ludwig von Mises. Von Mises based his economic theories on a single axiom: "Man acts to achieve an end." From this single axiom he drew all his consequences that led him to the conclusion that free market is not bound to a specific economic system but rooted in the very nature of man.

Von Mises himself might have done better, but David Gordon does not succeed in showing what should prevent men from achieving their ends by non-market means like for example enslaving other people. That is at least what people did for thousands of years. But observations like this would not be taken into consideration by Misesian economists: Von Mises based his economic theories entirely on deductive logic and viewed empirical facts as simply irrelevant. The reader should take into account that this book follows a sectarian approach which is rejected as methodically inadequate by mainstream economics as well as by other members of the Austrian School.

The autor is well versed in logic and writes a witty prose but he employed his abilities to write a right-wing propaganda pamphlet disguised as textbook. David Gordon makes out numerous enemies: Sociology, progressive schools, Hillary Clinton, trade unions, taxes, the New Deal, Minimum Wages, any kind of state intervention. The state is the villain anyway.

In its essence this book presents a cynical viewpoint. We learn for example that "the marginal sellers will exit the market". But what does it mean if a marginal seller of labor exits the market in a society without welfare system? Thomas Robert Malthus was the last economist that dared to be explicit about this point: "Exiting the market" means starving to death in this case.

David Gordon's promise is that in a completely deregulated marked there will be no unemployment. But will the sellers of labor also be able to make a living from their wages? David Gordon does not bother to answer this point but we can call the founder of the Austrian School to the rescue: Carl Menger stated in his Principles of economics (1871): "Experience also informs us that many labor services cannot be exchanged by the laborer even for the most necessary means of subsistence... In Berlin, a seamstress working 15 hours a day cannot earn what she needs for her subsistence. Her income covers food, shelter, and firewood, but even with the most strenuous industry she cannot earn enough for clothing."

17 people found this helpful

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