Austrian Economics: An Introduction

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 ...