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Champions of Freedom: Austrian Economics : A Reader
This special volume in the Champions of Freedom series presents selected readings in Austrian school economics, the school which Mises helped to found. Intended as a companion to Volume 17, Austrian Economics: Perspectives on the Past and Prospects for the Future, Volume 18 attempts to provide an overview of the Austrian approach. While it does not claim to be comprehensive, it is hoped that the selections herein offer a representative sampling of the richness of the Austrian contribution to economic theory and policy.
- GenresEconomics
692 pages, Paperback
First published June 1, 1991
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July 12, 2024
AN EXTREMELY HELPFUL COMPILATION OF WRITINGS
Editor Richard Ebeling (born 1950) is an American libertarian author, and was president of the Foundation for Economic Education (FEE) from 2003 to 2008.
This 1991 collection contains essays by modern Austrians such as Murray Rothbard, Israel Kirzner, and Ludwig Lachmann, as well as the "classics" by Ludwig von Mises, Friedrich Hayek, Carl Menger, and Eugen von Bohm-Bawerk.
In one of his essays, Ebeling notes that one of the distinctive features of the Austrian school is "its emphasis on the methodological foundations of the social sciences in general," as well as its reliance upon methodological individualism and methodological subjectivism. (Pg. 43)
After acknowledging the "considerable controversy" over Mises "praxeological axiom" (i.e., his deductive derivation of conclusions from an original set of axioms), Murray Rothbard explains that Mises was working "within a Kantian philosophical framework," and believed that like the laws of thought, "the axiom is a priori to human experience and hence apodictically certain." (Pg. 60)
In Hayek's widely-reprinted essay "The Use of Knowledge in Society," he argues that we should look at the price system as a mechanism for communicating information, and he suggests that "I am convinced that... if the people guided by the price changes understood that their decisions woulod have significance far beyond their immediate aim, this mechanism would have been acclaimed as one of the greatest triumphs of the human mind." (Pg. 258-259)
This very broad and complete collection provides a fine survey of Austrian Economics
Editor Richard Ebeling (born 1950) is an American libertarian author, and was president of the Foundation for Economic Education (FEE) from 2003 to 2008.
This 1991 collection contains essays by modern Austrians such as Murray Rothbard, Israel Kirzner, and Ludwig Lachmann, as well as the "classics" by Ludwig von Mises, Friedrich Hayek, Carl Menger, and Eugen von Bohm-Bawerk.
In one of his essays, Ebeling notes that one of the distinctive features of the Austrian school is "its emphasis on the methodological foundations of the social sciences in general," as well as its reliance upon methodological individualism and methodological subjectivism. (Pg. 43)
After acknowledging the "considerable controversy" over Mises "praxeological axiom" (i.e., his deductive derivation of conclusions from an original set of axioms), Murray Rothbard explains that Mises was working "within a Kantian philosophical framework," and believed that like the laws of thought, "the axiom is a priori to human experience and hence apodictically certain." (Pg. 60)
In Hayek's widely-reprinted essay "The Use of Knowledge in Society," he argues that we should look at the price system as a mechanism for communicating information, and he suggests that "I am convinced that... if the people guided by the price changes understood that their decisions woulod have significance far beyond their immediate aim, this mechanism would have been acclaimed as one of the greatest triumphs of the human mind." (Pg. 258-259)
This very broad and complete collection provides a fine survey of Austrian Economics
Displaying 1 of 1 review