How can people peacefully cooperate with others to improve their lives? This important book answers this question by introducing readers to the Austrian school of economics.
Austrian economics is a heterodox tradition with a distinct philosophy of science stressing purposive individual action, subjective value, the unique nature of economic knowledge, and the importance of prices and markets for coordination. Beginning in Austria in the 1870s with the work of Carl Menger, the ideas of those working in this tradition shaped the field of economics as we know it today. Coyne and Hall tell the story of the key thinkers and ideas in the Austrian school of economics. In doing so, they demonstrate the tradition’s ongoing relevance to a wide range of contemporary issues including entrepreneurship, development, government regulation, artificial intelligence, business cycles and recessions, infectious diseases, recovery from natural disasters, and war.
Comprehensive and accessibly written, Austrian Economics: An Introduction is an indispensable resource on its topic. Readers will walk away with a better understanding of economics and an appreciation of the marvel of human cooperation
How can people peacefully cooperate with others to improve their lives? This important book answers this question by introducing readers to the Austrian school of economics.
Austrian economics is a heterodox tradition with a distinct philosophy of science stressing purposive individual action, subjective value, the unique nature of economic knowledge, and the importance of prices and markets for coordination. Beginning in Austria in the 1870s with the work of Carl Menger, the ideas of those working in this tradition shaped the field of economics as we know it today. Coyne and Hall tell the story of the key thinkers and ideas in the Austrian school of economics. In doing so, they demonstrate the tradition’s ongoing relevance to a wide range of contemporary issues including entrepreneurship, development, government regulation, artificial intelligence, business cycles and recessions, infectious diseases, recovery from natural disasters, and war.
Comprehensive and accessibly written, Austrian Economics: An Introduction is an indispensable resource on its topic. Readers will walk away with a better understanding of economics and an appreciation of the marvel of human cooperation.
Industry Reviews
"Professors Coyne and Hall provide readers with an excellent introduction to the ideas of the Austrian school, followed by a discussion of policy issues to show why those ideas make a difference."
Randall Holcombe, Florida State University
"I've always struggled to find a recommendation when I'm asked what book to read as an introduction to Austrian Economics. Thanks to Chris Coyne and Abigail Hall, I now have a 'go to' answer."
Benjamin Powell, Free Market Institute and Texas Tech University
