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Author: Israel Mayer Kirzner Publisher: Ludwig von Mises Institute ISBN: 1610160290 Category : Languages : en Pages : 340
Book Description
Israel Kirzner's outstanding book on price theory is back in print. It is been very difficult to obtain it for decades, even though it is surely the best textbook on Austrian price theory ever written. The prose is crystal clear and the organization exceptional. He takes the reader through the foundations of individual action, exchange, utility, demand and supply, production, and the market process itself. Had it been in print, it would have schooled generations in Austrian price theory, and it is surely useful in the classroom today, or for general reading. Not a collection of essays, it is an integrated presentation from top to bottom, written early in Kirzner's post-doctoral career.
Author: Israel Mayer Kirzner Publisher: Ludwig von Mises Institute ISBN: 1610160290 Category : Languages : en Pages : 340
Book Description
Israel Kirzner's outstanding book on price theory is back in print. It is been very difficult to obtain it for decades, even though it is surely the best textbook on Austrian price theory ever written. The prose is crystal clear and the organization exceptional. He takes the reader through the foundations of individual action, exchange, utility, demand and supply, production, and the market process itself. Had it been in print, it would have schooled generations in Austrian price theory, and it is surely useful in the classroom today, or for general reading. Not a collection of essays, it is an integrated presentation from top to bottom, written early in Kirzner's post-doctoral career.
Author: John P. Barrados Ph.D. Publisher: Trafford Publishing ISBN: 1466994843 Category : Business & Economics Languages : en Pages : 210
Book Description
This book establishes that there is a fault or inconsistency in the orthodox classical price system. This suppresses in the system the general economic logic that should characterize all price systems. This mars the orthodox classical system in various ways, for example, by bringing an incorrect form of Say's Law into the system that restricts it to long-run states. However, the inconsistency in the orthodox classical system is resolved in the book through a revised classical system. This gives the latter system a more general character than the orthodox form of the system. This is reflected, for example, in the revised classical system being rid of the incorrect form of Say's Law that restricts the orthodox classical system to long-run states.
Author: Peter J. Boettke Publisher: ISBN: 0199811768 Category : Business & Economics Languages : en Pages : 833
Book Description
The Austrian School of Economics is an intellectual tradition in economics and political economy dating back to Carl Menger in the late-19th century. Menger stressed the subjective nature of value in the individual decision calculus. Individual choices are indeed made on the margin, but the evaluations of rank ordering of ends sought in the act of choice are subjective to individual chooser. For Menger, the economic calculus was about scarce means being deployed to pursue an individual's highest valued ends. The act of choice is guided by subjective assessments of the individual, and is open ended as the individual is constantly discovering what ends to pursue, and learning the most effective way to use the means available to satisfy those ends. This school of economic thinking spread outside of Austria to the rest of Europe and the United States in the early-20th century and continued to develop and gain followers, establishing itself as a major stream of heterodox economics. The Oxford Handbook of Austrian Economics provides an overview of this school and its theories. The various contributions discussed in this book all reflect a tension between the Austrian School's orthodox argumentative structure (rational choice and invisible hand) and its addressing of a heterodox problem situations (uncertainty, differential knowledge, ceaseless change). The Austrian economists from the founders to today seek to derive the invisible hand theorem from the rational choice postulate via institutional analysis in a persistent and consistent manner. Scholars and students working in the field of History of Economic Thought, those following heterodox approaches, and those both familiar with the Austrian School or looking to learn more will find much to learn in this comprehensive volume.
Author: Weiying Zhang Publisher: Cato Institute ISBN: 193970961X Category : Business & Economics Languages : en Pages : 430
Book Description
The Logic of the Market by Weiying Zhang—considered China’s “leading market liberal”—comprises his most influential essays on economics over the past three decades. First published in China in 2010, this revised edition contains three new essays, which offer those outside China a deeper understanding of the Chinese economy. “Market competition is a really just competition to create value for others... Only through this approach did the Western economy advance over the past 200 years. It is also the reason for China’s economic marvel over the past 30 years,” writes Weiying. Readers will appreciate Weiying’s ability to address both everyday economic issues and the questions that confront a nation’s leaders, not the least a nation seeking to escape mass poverty. The economic reforms and subsequent growth in China may be the most astonishing and hopeful event of our age. Weiying was among the leaders who set China on its path of change. Here he elucidates the pitfalls and the progress of economic reform, celebrating leaders who mixed sustained idealism with judicious compromise. Readers seeking to learn from China’s successes will find much of interest here. Weiying emphasizes the importance of entrepreneurs in the new China. He concludes, “The key for China, as the country with the world’s largest population, to return to being the largest economy lies in allowing the entrepreneurial spirit to develop the potential of the domestic market.” For that to happen, Weiying recommends that China continue to reduce the state-owned economy, lessen government control over the economy, and—over the next 30 years—emphasize political reform to build a constitutional democracy. His thinking is not limited to China. Some of these essays also focus on the global financial crisis—how Keynesian policies can only be effective for the short term and will bring long-term negative consequences. Weiying provides a unique perspective on his country’s market economy, implementation of economic policies, and the potential for Chinese economic development. “I hope that the logic of the market becomes every person’s ideal,” he writes. “That is my reason for writing this book.”
Author: Henry Hazlitt Publisher: Crown Currency ISBN: 0307760626 Category : Business & Economics Languages : en Pages : 220
Book Description
With over a million copies sold, Economics in One Lesson is an essential guide to the basics of economic theory. A fundamental influence on modern libertarianism, Hazlitt defends capitalism and the free market from economic myths that persist to this day. Considered among the leading economic thinkers of the “Austrian School,” which includes Carl Menger, Ludwig von Mises, Friedrich (F.A.) Hayek, and others, Henry Hazlitt (1894-1993), was a libertarian philosopher, an economist, and a journalist. He was the founding vice-president of the Foundation for Economic Education and an early editor of The Freeman magazine, an influential libertarian publication. Hazlitt wrote Economics in One Lesson, his seminal work, in 1946. Concise and instructive, it is also deceptively prescient and far-reaching in its efforts to dissemble economic fallacies that are so prevalent they have almost become a new orthodoxy. Economic commentators across the political spectrum have credited Hazlitt with foreseeing the collapse of the global economy which occurred more than 50 years after the initial publication of Economics in One Lesson. Hazlitt’s focus on non-governmental solutions, strong — and strongly reasoned — anti-deficit position, and general emphasis on free markets, economic liberty of individuals, and the dangers of government intervention make Economics in One Lesson every bit as relevant and valuable today as it has been since publication.
Author: John P. Barrados, Ph.D. Publisher: Trafford Publishing ISBN: 149073760X Category : Social Science Languages : en Pages : 205
Book Description
This book uncovers and resolves an inconsistency in orthodox theoretical price systems, systems we represent by the orthodox classical system. This inconsistency stems from the general economic logic that should underlie all price systems being suppressed in the orthodox systems. This is a result of an aspect to the behavior of individuals and firms being missing from the systems. The book first establishes how this inconsistency enters the orthodox classical system. Then a revised form of this system is set out that is rid of this inconsistency; and the focus of much of the book is on the revised classical system. This, however, is with the broader aim of bringing out how the general economic logic of price systems should be brought into all price systems. This general economic logic brings a common element to price systems that provides, in principle, the basis to integrate the systems. There are key implications of the book not only for the classical system but also for the Keynesian and Patinkin systems. As well, the book has relevance for Say’s Law and for issues about ensuring consistency of price systems, the existence of market processes in the systems and the use of mathematics in writing price systems.
Author: Robert E Babe Publisher: Routledge ISBN: 0429981155 Category : Social Science Languages : en Pages : 496
Book Description
This book proposes that infusing mainline economics with more expansive and realistic conceptions of information/communication transforms static neoclassicism into evolutionary political economy. It results in modes of analysis that, when applied through policy, can lead to a sustainable future.
Author: Israel Mayer Kirzner
Author: Israel Mayer Kirzner
Author: John P. Barrados Ph.D.
Author: Milton M. Shapiro
Author: Peter J. Boettke
Author: Weiying Zhang
Author: Arnold Joost William Keppel (Hon.)
Author: Henry Hazlitt
Author: John P. Barrados, Ph.D.
Author: Robert E Babe
Author: Robert L. Heilbroner