Austrian School Austrian School America's Great Depression is a treatise on the 1930s Great Depression and its root causes, written by libertarian author and theorist Murray Rothbard. The first edition was published in 1963. The book is now in its fifth edition. ...more on Wikipedia about "America's Great Depression"
The Austrian School is a school of economic thought that rejects opposing economists' reliance on methods used in natural science for the study of human action, and instead bases its formalism of economics on relationships through logic or introspection called " praxeology." Its most famous adherents are Carl Menger, Eugen von Böhm-Bawerk, Friedrich von Wieser, Ludwig von Mises, Friedrich Hayek, Murray Rothbard, Israel Kirzner and Hans-Hermann Hoppe. While often controversial, and standing to some extent outside of the mainstream of neoclassical theory — as well as being staunchly against much of Keynes' theory and its results — the Austrian School has been widely influential because of its emphasis on the creative phase of economic productivity and their questioning of the basis of the behavioral theory underlying neoclassical economics. The Austrian School is generally associated with groups that label themselves classical liberals or libertarian in their ideas of social, political and economic organization. ...more on Wikipedia about "Austrian School"
The trade cycle argument first appeared in the last few pages of Ludwig von Mises's The Theory of Money and Credit (1912). This early development of Austrian business cycle theory was a direct manifestation of Mises's rejection of the concept of neutral money and emerged as an almost incidental by-product of his exploration of the theory of banking. ...more on Wikipedia about "Austrian Theory of the Business Cycle"
Description: The book is usually considered to be the beginning of modern economics. It begins with a discussion of the Industrial Revolution. Later it critiques the mercantilism and a synthesis of the emerging economic thinking of his time. It is mostly known due to the idea of The Invisible Hand which is an often quoted phrase from the book. Its meaning is that people will unintentionally improve their community through pursuit of their own wants and needs. The Butcher, the Baker, and the Brewer provide goods and services to each other out of self-interest; the unplanned result of this division of labor is a better standard of living for all three. ...more on Wikipedia about "List of publications in economics"
This article is licensed under the GNU Free Documentation License.
It uses material from the Wikipedia . Direct links to the original articles are in the text.
If you use exact copy or modified of this article you should preserve above paragraph and put also : It uses material from
the Shortopedia article about "Austrian School".
| MAIN PAGE | MAIN INDEX | CONTACT US |