Richard Ebeling's insightful and highly readable book explains and
applies the ideas of the Austrian economists to a wide range of
contemporary public policy issues. He combines intellectual
political-economic history with the modern Austrian theory of the
market process to challenge the premises and uses of mainstream
neoclassical economics. He shows the continuities between the
positive contributions of the classical economists and the
Austrian's in contrast to the neoclassical conceptions of man, the
market economy and theory-formation for policy applications.
Particular emphasis is given to the Austrian view of the human
actor as creative innovator and planner who changes his world to
improve his circumstances in comparison to the neoclassical idea of
man as a passive economizer within given constraints. The Austrian
approach is applied to the problems of the regulated economy,
socialist central planning, the welfare state, monetary policy,
international trade, and the hundred-year conflict between
classical liberalism and collectivism. Economists, historians of
thought and policy analysts will find this collection of essays
illuminating.
General
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