Microfoundations and Macroeconomics: An Austrian Perspective

by Steven Horwitz

Overview

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.

Product Details

ISBN-13:	9780415197625
Publisher:	Taylor & Francis
Publication date:	09/28/2000
Series:	Routledge Foundations of the Market Economy
Pages:	292
Product dimensions:	6.40(w) x 9.40(h) x 1.00(d)

About the Author

Steven Horwitz is Associate Professor of Economics at St.Lawrence University, New York

Table of Contents

Part I: Introduction 1: Introduction: Is there an Austrian Macroeconomics? Part II: Market Process and Microeconomics 2: Prices, Knowledge and Economic Order 3: The Missing Link: Capital Theory as Microfoundations Part III: The Macroeconomics of Monetary Disequilibrium 4: Monetary Equilibrium as an Analytical Framework 5: Inflation, the Market Process, and Social Order 6: Monetary Equilibrium Theory and Deflation 7: W.H.Hutt on Price Rigidities and Macroeconomic Disorder Part IV: Policy Implications and Conclusions 8: Monetary Policy, Monetary Regimes, and Monetary Disequilibria 9: Conclusions: Microfoundations and Macroeconomics

Editorial Reviews

Though Austrian economics has focused almost exclusively on microeconomic concerns such as price coordination and entrepreneurship, Horwitz (economics, St. Lawrence U., New York) looks at three distinct macroeconomic issues that have been pursued by Austrian economists in the post-revival years. They are the extensions of the Mises-Hayek theory of the trade cycle, the idea of free banking or a completely market-driven monetary system, and the pre-Keynesian monetary disequilibrium theories. He braids those three strands into a systematic presentation of what an Austrian macroeconomics might look like, and argues that traditional Austrian cycle theory is strongly compatible with the Yeagerian monetary disequilibrium perspective. Annotation c. Book News, Inc., Portland, OR (booknews.com)

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