This book covers several areas of economic theory and political
philosophy from the perspective of Austrian Economics and
libertarianism. As such, it deals with Epistemology and
Methodology, Microeconomics, Macroeconomics, Labor Economics,
International Economics, Political Philosophy, Law and Public
Policy, all from the Austro-libertarian perspective. Hence, this
book offers an integrated view of libertarianism and Austrian
economics in the light of recent debates in the areas of economic
science and political philosophy. Moreover, it builds from the
foundations of the Austrian approach (epistemology and
methodology), while the latter material deals with its application
to the individual from the microeconomic perspective, which in turn
allows an exploration of subjects in macroeconomics. Additionally,
this work applies Austro-libertarianism to law, politics, and
public policy. Thus, it offers a unified view of the entire
approach, in a logical progression, allowing the readers to judge
this perspective in full. Futerman and Block say that their book is
not a manual, which I suppose it is not. But it is a collection of
highly pertinent essays, from which you can understand what is
mistaken in the orthodoxy of economics, law, and politics. The
central term of art in Austrian economics is that phrase "human
action." It is the exercise of human will, not the blind bumping of
one molecule against another or one organism against another, as in
the physical sciences... Futerman and Block distinguish Austrian
economics as a scientific enterprise based on liberty of the will
from "libertarianism" as an advocacy based on policies implied by
such liberty. "Although Austrian economics is positive and
libertarianism is normative," they write, "this book shows how both
are related; how each can support the other." Indeed they do.
Deirdre N. McCloskey, PhD UIC Distinguished Professor of Economics
and of History Emerita, Professor of English Emerita, Professor of
Communication Emerita, University of Illinois at Chicago
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