Description
Eureka! Skousen has done the unimaginable. Students adore it! I will be able to never use some other textbook again.”Harry Veryser, University of Detroit-Mercy
They said it couldn’t be done. Austrian economics is so different, they said, that it couldn’t be integrated into standard neo-classical” textbooks. Because of this, college students learn nothing about the great Austrian economists (Mises, Hayek, Schumpeter).
Professor Mark Skousen’s Economic Logic aims to change that. In keeping with his popular course taught at Columbia University, Skousen starts his micro” section with Carl Menger’s theory of the good” and the profit-and-loss source of revenue commentary to give an explanation for the dynamics of the market process, entrepreneurship, and some great benefits of saving.
Then he uses a powerful Hayekian four-stage model of the economy to introduce macro,” including a new Austrian measure of spending at all stages of production (Gross Domestic Expenditures).
Economic Logic also offers chapters on:
The international gold standard, the defects of central banking, and the Mises/Hayek theory of the business cycle.
A full critique of the Keynesian Aggregate Supply and Demand (AS-AD) model, and a revolutionary Austrian alternative.
Entrepreneurship, the financial markets, environmental economics, monetary policy and inflation, federal spending and taxes, and government regulation.
Leaders of all schools, including Austrian, Keynesians, Marxist, Chicago, and Public Choice.
They said it couldn’t be done. Austrian economics is so different, they said, that it couldn’t be integrated into standard neo-classical” textbooks. Because of this, college students learn nothing about the great Austrian economists (Mises, Hayek, Schumpeter).
Professor Mark Skousen’s Economic Logic aims to change that. In keeping with his popular course taught at Columbia University, Skousen starts his micro” section with Carl Menger’s theory of the good” and the profit-and-loss source of revenue commentary to give an explanation for the dynamics of the market process, entrepreneurship, and some great benefits of saving.
Then he uses a powerful Hayekian four-stage model of the economy to introduce macro,” including a new Austrian measure of spending at all stages of production (Gross Domestic Expenditures).
Economic Logic also offers chapters on:
The international gold standard, the defects of central banking, and the Mises/Hayek theory of the business cycle.
A full critique of the Keynesian Aggregate Supply and Demand (AS-AD) model, and a revolutionary Austrian alternative.
Entrepreneurship, the financial markets, environmental economics, monetary policy and inflation, federal spending and taxes, and government regulation.
Leaders of all schools, including Austrian, Keynesians, Marxist, Chicago, and Public Choice.
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