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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Alias Shrugged who wrote (82738)	8/8/2000 8:56:08 AM
From: Don Lloyd	Respond to of 132070

Mike - [...Do you have any recommendations for initial reading on Austrian Economics?] Maybe. Just to be clear up front, Austrian Economics is THE economics of free markets and limited government. If you are not yet ready to at least tolerate economic Libertarianism, you probably will find much of AE literature objectionable, although it doesn't really matter for the very basic theory. If you are only interested in the Austrian Theory of the Business Cycle, as are most market watching investors, see 'America's Great Depression', by Murray N. Rothbard. My interest is more in economics at its most basic level, which means the Subjective Theory of Value, and the Law of Diminishing Marginal Utility, both keys to the Austrian viewpoint. Assuming that this has some interest, the following books are relevant : An Introduction to Economic Reasoning, by David Gordon, ISBN: 0-945466-28-5 This is definitely an introductory book, but I'm not sure how it comes across as a first exposure to Austrian Economics in a non-classroom setting. Probably worth a shot, short and inexpensive. If you try this, feel free to PM me with any questions. The starting point of AE was the development of the Subjective Theory of Value, found in 'Principles of Economics', by Carl Menger, ISBN: 0-910884-27-7. This is surprisingly readable for a ground-breaking text. Also cheap. The real heavy-hitting texts, useful for both reference and serious study, are as follows : 'Human Action' by Ludwig von Mises 'Man, Economy and State, a Treatise on Economic Principle', 2 vol., by Murray N. Rothbard 'Capitalism, a Treatise on Economics', by George Reisman It is probably worth rummaging around on several web sites. These include : mises.org fee.org capitalism.net laissezfaire.org This a bookstore, get on their monthly printed catalog mailing list. Regards, Don