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"What if economics began with people? Carl Menger. Ludwig von Mises. F.A. Hayek. Murray Rothbard. Israel Kirzner. They're some of the most important and acclaimed economists of the modern era, and they all belong to an intellectual tradition known as the Austrian School of Economics. While many economists model people's behavior using idealized assumptions, Austrian economists begin by taking people as they are and build economic theories by examining the logical structure of the choices they make. This book introduces the key thinkers of the Austrian School and explains their insights on a wide range of economic topics. It also explains the relationship between the Austrian School and mainstream economics and delves into the criticisms Austrian School economists have mounted against communist and socialist economic thought."

The US housing bubble and the ensuing financial crisis and recession, as well as the ongoing slow recovery, have prompted a renewal of interest in the business cycle theory associated with the Austrian school of economics. Over the last thirty years, Austrian economists have extended and refined that theory while also deploying Austrian insights in other areas of monetary theory and macroeconomics. In this volume, a number of macroeconomists influenced by the Austrian school demonstrate its explanatory power by applying those ideas to a variety of historical and contemporary issues. Several of the papers focus on the differences between the US and Canadian experiences during the early 21st century, while other contributors offer critical extensions of Austrian monetary and business cycle theory. The volume also includes empirical applications to the housing boom and bust, and several papers consider the place of Austrian macroeconomics within the schools approach to political economy and public policy more generally. Studies in Austrian Macroeconomics shows the breadth and depth of modern macroeconomics in the Austrian tradition.

Volume 18 Entangled Political Economy of the Book Series Advances in Austrian Economics examines the concept 'entangled political economy' from several distinct but complementary points of view. The volume is proof that Wagner's notion of entanglement opens new vistas for political economy in all its dimensions

In almost every corner of our private and public lives we rely on experts to advise us. This important species of labor is getting increasing attention from economists, who are beginning to learn how to apply their tools and assumptions to the problem of expertise. Under what conditions of supply and demand are experts likely to give us good advice? When is expert failure more likely? Do entrepreneurs challenge existing expertise? Are they experts themselves? And if economists are themselves experts, what happens when we turn the skeptical gaze of economic theory on the economist themselves? This volume publishes papers given at the third biennial Wirth Institute Conference on Austrian Economics. It brings together a heterogeneous collection of thinkers, some "Austrian" and others not, to critically engage the problem of experts. While mostly agreeing that there is a problem of experts, the papers collected here approach the issue from a variety of often-complementary perspectives

Leading scholars consider Austrian economics from several perspectives such as characteristic themes of entrepreneurship and uncertainty, scientific methods such as mathematical complexity theory and experimental economics, and historical contexts such as pre-war Vienna and post-war France. Placing "Austrian economics" in these multiple contexts helps to reveal the rich texture of the Austrian tradition in social thought and its multiple connections to current research in diverse fields. Applications to the theory of the trade cycle and to foreign intervention suggest that the Austrian tradition contains possibilities not yet full explored and exploited. The volume gathers together papers presented at the second biennial Wirth conference on Austrian economics, held in October 2008 when the crisis of Fall 2008 was still new and shocking. This coincidence of timing makes policy issues and crisis management a kind of leitmotif of the volume. If, as keynote speaker David Colander argues, Austrians have a comparative advantage in political economy, then its stock should rise in times of crisis and political uncertainty. The volume provides evidence in favor of this view. Contributors include David Colander, Richard Wagner, Jeffery McMullen, J. Barkley Rosser, Jr., Steve Horwitz, Richard Ebeling, Chris Coyne, and Peter Boettke.