Title:
Choice : cooperation, enterprise, and human action
Author:
Murphy, Robert P. (Robert Patrick), 1976-
ISBN:
9781598132175
9781598132182
Personal Author:
Physical Description:
xix, 315 pages ; 24 cm.
Series:
Independent studies in political economy
Independent studies in political economy.
Contents:
Pt. 1: Human Action -- The science of economics and human action -- The definition and components of action -- Economic theory versus historical understanding -- Further economic concepts and principles flowing from action -- Pt. 2: Action within the framework of society -- Human society and the division of labor -- The role of ideas and the importance of reason -- Pt. 3: Economic calculation -- Even the economists missed the importance of monetary calculation -- What economic calculation can and can't do -- Pt. 4: Catallactics: economics of the market society -- Defining and studying the market economy -- How prices are formed on the market -- Indirect exchange and money -- The misesian approach to money and banking -- Capital, time preference, and the theory of interest -- Austrian business cycle theory -- Pt. 5: Social cooperation without a market -- The impossibility of economic calculation under socialism -- Pt. 6: The hampered market economy -- Government intervention in the market economy -- Pt. 7: The place of economic in society -- Economics and public opinion.
Abstract:
"Human Action--a treatise on laissez-faire capitalism by Ludwig von Mises--is a historically important and classic publication on economics, and yet it can be an intimidating work due to its length and formal style. Choice: Cooperation, Enterprise, and Human Action, however, skillfully relays the main insights from Human Action in a style that will resonate with modern readers. The book assumes no prior knowledge in economics or other fields, and, when necessary, it provides the historical and scholarly context necessary to explain the contribution Mises makes on a particular issue. To faithfully reproduce the material in Human Action, this work mirrors its basic structure, providing readers with an enjoyable and educational introduction to the life's work of one of history's most important economists"-- Provided by publisher.
"Government intervention in the institutions of money and banking sowed the seeds of the worldwide asset bubble in the early and mid-2000s, which could only result in a giant crash according to this line of thought. Once the crash had occurred, the recession was prolonged by yet more government intervention in the form of massive deficits, expansion of unemployment payments, and ever more regulations on businesses in the private sector. Only by returning to a genuinely free market, based on the classical liberal notions of private property, civil liberties, and peace among nations, can we return to the prosperity and steady improvement of living conditions that we had come to take for granted. Those who endorse the Austrian analysis believe it is crucial to spread this message, not just to academics, but to the intelligent layperson as well. That is the primary function of the present volume. It provides an introduction and an invitation to the most important work of arguably the most important Austrian economist"-- Provided by publisher.