Palgrave Studies in Austrian Economics – serie

This book, the first of two volumes, comes to life through the transcription of captivating classroom lectures spanning several years, providing a comprehensive overview of the core topics within Austrian economics. With a focus on microeconomics, it explores foundational ideas within Austrian economics, including human action, entrepreneurship, competition theory, and price theory, to give readers a deep understanding of each topic unravelling complex economic concepts with clarity and precision. Economic uncertainty, rationality, marginal utility, productivity, exchange interactions, valuation, price determination, and monopoly are also discussed. Through a seamless blend of theory and real-world examples, readers are invited to challenge conventional wisdom and explore the implications of Austrian economics on society and individual freedom. This book offers an accessible and engaging synthesis of Austrian economics that redefines the topic within modern economics. It will be relevant to students, teachers, and scholars of many other academic institutions around the world, interested in the approach of the Austrian School of economics and its relevance in today’s ever-evolving world.

Science and the rule of law are the two pillars of modernity. Even though both result from the attempt to employ reason to limit the exercise of power in the scientific and the political sphere, they bear in themselves the germs of their own destruction: scientism and welfare totalitarianism. This book examines a trend towards a new, specifically postmodern totalitarianism, namely a regime of “actually existing postmodernism” that is based on the collusion of four elements: (i) scientism and its political use, (ii) intellectual postmodernism, (iii) welfare states, and (iv) crony capitalism. The book then shows a way out by utilising the philosophy of Descartes and Kant, the social-normative turn in the 20th century, and the resources of Austrian libertarianism from Hayek and Popper to Mises, Rothbard and Hoppe. These intellectual resources lay the ground for a New Enlightenment and an open society shaped by a free science and voluntary cooperation under the rule of law.Restoring Science and the Rule of Law is essential reading for philosophers of science and for political theorists interested in the foundations of the rule of law.

Science and the rule of law are the two pillars of modernity. Even though both result from the attempt to employ reason to limit the exercise of power in the scientific and the political sphere, they bear in themselves the germs of their own destruction: scientism and welfare totalitarianism. This book examines a trend towards a new, specifically postmodern totalitarianism, namely a regime of “actually existing postmodernism” that is based on the collusion of four elements: (i) scientism and its political use, (ii) intellectual postmodernism, (iii) welfare states, and (iv) crony capitalism. The book then shows a way out by utilising the philosophy of Descartes and Kant, the social-normative turn in the 20th century, and the resources of Austrian libertarianism from Hayek and Popper to Mises, Rothbard and Hoppe. These intellectual resources lay the ground for a New Enlightenment and an open society shaped by a free science and voluntary cooperation under the rule of law.Restoring Science and the Rule of Law is essential reading for philosophers of science and for political theorists interested in the foundations of the rule of law.

This book, the second of two volumes, provides a comprehensive overview of the core topics within Austrian economics. With a focus on macroeconomics, it explores foundational ideas within Austrian economics, including monetary and banking theory, law, capital theory, business cycles, the relationship between the market and the state, and interventionism. These ideas are contextualized within the history of economic thought, in particular the work of Ludwig von Mises. The Keynesian system, reform to the banking system, wages, social order, fiscal policy, and the political economy of ethics are also discussed.This book offers an accessible and engaging synthesis of Austrian economics that redefines the topic within modern economics. It will be relevant to students and researchers interested in Austrian economics and the political economy.

This book, the second of two volumes, provides a comprehensive overview of the core topics within Austrian economics. With a focus on macroeconomics, it explores foundational ideas within Austrian economics, including monetary and banking theory, law, capital theory, business cycles, the relationship between the market and the state, and interventionism. These ideas are contextualized within the history of economic thought, in particular the work of Ludwig von Mises. The Keynesian system, reform to the banking system, wages, social order, fiscal policy, and the political economy of ethics are also discussed.This book offers an accessible and engaging synthesis of Austrian economics that redefines the topic within modern economics. It will be relevant to students and researchers interested in Austrian economics and the political economy.

This book offers an accessible framework for macroeconomic modelling rooted in the capital theory of Austrian Economics. By distinguishing between the goods and monetary sides of the economy and exploring their interaction, the book provides a comprehensive macroeconomic model that integrates time preference and interest rates. It examines how monetary and fiscal policies can produce business cycles and how these cycles are influenced by central bank liquidity and financial market behaviour. Additionally, the book discusses the ways in which monetary and fiscal policies can prolong and intensify economic stagnation.Through its clear exposition, this book deepens the understanding of the conditions that determine the unsustainability of credit-driven economic expansions. It is essential reading for students and researchers in political economy, macroeconomics, monetary economics, and those interested in advancing Austrian Economics.

This book provides unique insight into the relationship between economics and family life. Taking ideas from the Austrian school of economics’ understanding of monetary theory, it delves into the drivers of family formation, fertility, and family disintegration, with a particular focus on the role of inflation and inflationary policy. By placing questions surrounding family life within a political economy setting, the impact of relative price changes, inflation culture, and specific monetary policies on the role and structure of the family are highlighted.This book offers a nuanced and robust understanding of the economic causes of the deinstitutionalization of traditional family life. It will be relevant to students and researchers interested in monetary economics and the economics of the family.

This book provides unique insight into the relationship between economics and family life. Taking ideas from the Austrian school of economics’ understanding of monetary theory, it delves into the drivers of family formation, fertility, and family disintegration, with a particular focus on the role of inflation and inflationary policy. By placing questions surrounding family life within a political economy setting, the impact of relative price changes, inflation culture, and specific monetary policies on the role and structure of the family are highlighted.This book offers a nuanced and robust understanding of the economic causes of the deinstitutionalization of traditional family life. It will be relevant to students and researchers interested in monetary economics and the economics of the family.

This book provides an overview of the concepts and theories that underpin the Austrian school of economics. It follows the development of Austrian economics, from the neo-classical revolution at the end of the 19th century to the modern era of economics that it has shaped. By highlighting the theoretical framework that characterises Austrian economics, insight is provided into a broad range of economic issues, including the notion of value, the impact of state intervention, the formation of market prices, the nature of competition, the laws of production, monetary policy, and business cycles.This book offers an accessible introduction to Austrian economics and the core ideas that define it. It will be relevant to students and researchers interested in Austrian economics and political economy.

This book provides an overview of the concepts and theories that underpin the Austrian school of economics. It follows the development of Austrian economics, from the neo-classical revolution at the end of the 19th century to the modern era of economics that it has shaped. By highlighting the theoretical framework that characterises Austrian economics, insight is provided into a broad range of economic issues, including the notion of value, the impact of state intervention, the formation of market prices, the nature of competition, the laws of production, monetary policy, and business cycles.This book offers an accessible introduction to Austrian economics and the core ideas that define it. It will be relevant to students and researchers interested in Austrian economics and political economy.

This book provides unique insight into the life and work of Murray N. Rothbard. After detailing his early life and encounters with Ludwig von Mises, it examines how the social and political conditions of the time influenced his thinking and led him toward classical liberalism, the Austrian school of economics, and libertarianism. Rothbard’s valuable contributions to these traditions are outlined, with a particular focus on his considerations of human nature, natural law, business cycles, and the free market. His engagement with political and social issues is also discussed and ranges from his opposition to the Vietnam War and his distrust of the state to his analysis of the Soviet secession. This book explores the legacy of Murray N. Rothbard and highlights the continued importance of his ideas and work. It will be relevant to students and researchers interested in the history of economic thought and political philosophy, as well as Austrian economics and libertarianism.