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Author: Karen I. Vaughn
Publisher: Cambridge University Press
ISBN: 9780521637657
Category : Business & Economics
Languages : en
Pages : 218
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Book Description
This book examines the development of the ideas of the new Austrian school from its beginnings in Vienna in the 1870s to the present. It focuses primarily on showing how the coherent theme that emerges from the thought of Carl Menger, Ludwig von Mises, Friedrich Hayek, Ludwig Lachmann, Israel Kirzner and a variety of new younger Austrians is an examination of the implications of time and ignorance (or processes and knowledge) for economic theory.
Author: Karen I. Vaughn
Publisher: Cambridge University Press
ISBN: 9780521637657
Category : Business & Economics
Languages : en
Pages : 218
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Book Description
This book examines the development of the ideas of the new Austrian school from its beginnings in Vienna in the 1870s to the present. It focuses primarily on showing how the coherent theme that emerges from the thought of Carl Menger, Ludwig von Mises, Friedrich Hayek, Ludwig Lachmann, Israel Kirzner and a variety of new younger Austrians is an examination of the implications of time and ignorance (or processes and knowledge) for economic theory.
Author:
Publisher: Ludwig von Mises Institute
ISBN: 1610164989
Category :
Languages : en
Pages : 262
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Book Description
Author: Peter J. Boettke
Publisher: Edward Elgar Publishing
ISBN: 9781849809511
Category : Austrian school of economics
Languages : en
Pages : 0
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Book Description
The Austrian school of economics was founded in 1871 with the publication of Carl Menger's Principles of Economics. In his book, Menger argued that economic analysis is universally applicable and that the appropriate unit of analysis is man and his choices. These choices, he wrote, are determined by individual subjective preferences and the margin on which decisions are made. The logic of choice, he believed, is the essential building block to the development of a universally valid economic theory. The home of the field moved first to Britain and then on to the US, and at present a diverse mix of intellectual traditions in economic science is obvious in contemporary Austrian school economists. While one could argue that a unique Austrian school of economics operates within the economic profession today, one could also sensibly argue that the label 'Austrian' no longer possesses any substantive meaning. This Handbook looks through the lens of the latest generation of scholars at the main propositions believed by so-called 'Austrians'. Each contributing author addresses key tenets of the school of thought, and outlines its ongoing contribution to economics and to the social sciences. Contributors: S.A. Beaulier, P.J. Boettke, C.J. Coyne, A.J. Evans, P.T. Leeson, S.C. Miller, B. Powell, F. Sautet, V.H. Storr, E.P. Stringham, J.R. Subrick
Author: Peter J. Boettke
Publisher:
ISBN: 0199811768
Category : Business & Economics
Languages : en
Pages : 833
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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: Janek Wasserman
Publisher: Yale University Press
ISBN: 0300228228
Category : Business & Economics
Languages : en
Pages : 367
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Book Description
A group history of the Austrian School of Economics, from the coffeehouses of imperial Vienna to the modern-day Tea Party The Austrian School of Economics--a movement that has had a vast impact on economics, politics, and society, especially among the American right--is poorly understood by supporters and detractors alike. Defining themselves in opposition to the mainstream, economists such as Ludwig von Mises, Friedrich Hayek, and Joseph Schumpeter built the School's international reputation with their work on business cycles and monetary theory. Their focus on individualism--and deep antipathy toward socialism--ultimately won them a devoted audience among the upper echelons of business and government. In this collective biography, Janek Wasserman brings these figures to life, showing that in order to make sense of the Austrians and their continued influence, one must understand the backdrop against which their philosophy was formed--notably, the collapse of the Austro-Hungarian Empire and a half-century of war and exile.
Author: Gerald P O'Driscoll Jr
Publisher: Routledge
ISBN: 1317691350
Category : Business & Economics
Languages : en
Pages : 469
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Book Description
Austrian Economics Re-examined: The Economics of Time and Ignorance is an expanded version of the 1996 edition of The Economics of Time and Ignorance. This work is a classic statement of the role of subjectivism, radical uncertainty and change through real time in Austrian economics specifically, and in modern economics more generally. The new book contains the full text and Introductions of the earlier edition as well as the comprehensive previously-unpublished essay "What is Austrian Economics?" and a new Introduction. The essay is a comprehensive overview of the central themes of the book from a somewhat different perspective than in the book itself. It supplements the analysis in the book. The new Introduction explains that the 2007-8 financial crisis and recent developments in behavioural economics have made the book more relevant than ever before. Austrian Economic Re-examined develops and systematizes the fundamental principles of the Austrian tradition to the analysis of rational expectations, business cycles, monetary theory competition and monopoly, and capital theory. The Open Access version of this book, available at https://www.taylorfrancis.com/books/oa-edit/10.4324/9781315776736, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license.
Author: Steven Horwitz
Publisher: Routledge
ISBN: 1134642229
Category : Business & Economics
Languages : en
Pages : 289
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Book Description
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.
Author: Richard M. Ebeling
Publisher: Edward Elgar Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 304
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Book Description
He shows the continuities between the positive contributions of the classical economists and the Austrian's in contrast to the neoclassical conceptions of man, the market economy and theory-formation for policy applications. Particular emphasis is given to the Austrian view of the human actor as creative innovator and planner who changes his world to improve his circumstances in comparison to the neoclassical idea of man as a passive economizer within given constraints. The Austrian approach is applied to the problems of the regulated economy, socialist central planning, the welfare state, monetary policy, international trade, and the hundred-year conflict between classical liberalism and collectivism.
Author: Steven Horwitz
Publisher: Emerald Group Publishing
ISBN: 085724261X
Category : Business & Economics
Languages : en
Pages : 259
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Book Description
The volume gathers together papers presented at the second biennial Wirth conference on Austrian economics, held in October 2008 when the crisis of Fall 2008 was still new and shocking. This coincidence of timing makes policy issues and crisis management a kind of leitmotif of the volume.
Author: Steven Horwitz
Publisher: Cato Institute
ISBN: 1948647966
Category : Business & Economics
Languages : en
Pages : 167
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Book Description
What if economics began with people? Choice is an essential feature of the human condition. Every time we embark on a given plan of action, big or small, we make a choice. Whereas many economists model people’s behavior using idealized assumptions, economists of the Austrian School don’t. The Austrian School of Economics takes people as they are and constructs economic theories by examining the logical structure of the choices they make. Austrian Economics: An Introduction book explains the Austrian School’s insights on a wide range of economic topics and introduces some of its key thinkers. It also explains the relationship between the Austrian School and mainstream economics and delves into the criticisms that Austrian School economists have mounted against communist and socialist economic thought.
