p>For the serious student, this exposition of the essentials of Austrian economics is excellent. Taylor discusses all the fundamental aspects of Austrian thought, from subjectivism and marginal utility to inflation and the business cycle. This new and revised edition is widely influential among economics students.
For the newcomer, this work represents a concise introduction to both the historical setting of the Austrian School and to the ideas espoused by its members.
This volume includes chapters on:
Social Cooperation and Resource Allocation
Economic Calculation
The Subjective Theory of Value
The Market and Market Prices
Production in an Evenly Rotating Economy
From an Evenly Rotating Economy to the Real World
Inflation and the Business Trade Cycle96 pp. (pb)