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Microfoundations and Macroeconomics: An Austrian Perspective
 
 


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Microfoundations and Macroeconomics: An Austrian Perspective [Paperback]

Steven Horwitz
5.0 out of 5 stars  See all reviews (1 customer review)

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Book Description

November 24, 2009 0415569575 978-0415569576 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.

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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: 292 pages
  • Publisher: Routledge; 1 edition (November 26, 2009)
  • Language: English
  • ISBN-10: 0415569575
  • ISBN-13: 978-0415569576
  • Product Dimensions: 6.1 x 0.7 x 9.2 inches
  • Shipping Weight: 1.2 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: #1,559,130 in Books (See Top 100 in Books)

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24 of 26 people found the following review helpful
5.0 out of 5 stars Macroeconomics for the Real World April 5, 2008
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.
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