Economics Questions

Re: Praxeology: reading list

Black Bloke — Mon, 24 Mar 2008 01:59:10 GMT

For Molinari's book I figure Roderick Long might be able to tell you. But there is an online version of the World of Tomorrow, though Dr. Long doesn't think too highly of the translation: http://praxeology.net/blog/2008/01/19/online-molinari-on-religion/

Re: Praxeology: reading list

TokyoTom — Tue, 19 Feb 2008 13:41:20 GMT

Wow; pretty awesome list! With that kind of knowledge, I'd certainly appreciate a little more correction and helpful suggestions on the blog. With knowledge comes responsibility.

Re: Praxeology: reading list

Inquisitor — Sun, 20 Jan 2008 01:36:30 GMT

Both of those books focus on specific policy issues. They don't really teach you much about economics as a science and certain basic things like price formation and the like. His work does.

Re: Praxeology: reading list

Sean_M — Sat, 19 Jan 2008 22:34:40 GMT

most people i see recommend hazlitt's "economics in one lesson" or sowell's "basic economics" for a start. what makes callahan's book better?

Re: Praxeology: reading list

Paul — Wed, 16 Jan 2008 13:12:59 GMT

Sorry; make that http://www.librarything.com/tag/Austrian+Economics

And join the Mises Circle group

Re: Praxeology: reading list

Paul — Wed, 16 Jan 2008 12:51:32 GMT

Be sure to see http://www.librarything.com - e.g., see http://www.librarything.com/tag/Austrian+Economics

Re: Praxeology: reading list

Doug — Wed, 16 Jan 2008 02:59:36 GMT

Inquisitor - nice list. You have given me enough reading for the rest of my natural life

I'm and engineer by trade - so this is still really new to me. I'm learning the concepts of Praxeology, and why it is important - but I can't seem to get the concept across simply to anyone else. "Economics for Real People" is great - but a long book. I've tried having people read "I, Pencil", or "Seen and not seen..." and Lew Rockwell's "Why Austrian Economics Matters" - with no great success. Any suggestions for a short piece that is a good way to start the conversation with people?

Re: Praxeology: reading list

pairunoyd — Sun, 23 Dec 2007 20:04:39 GMT

One thing that I think would be useful is if a comprehensive list of books were mailed to the most respected Austrian Economists and they assigned a value to each book based on it's contribution to this school of thought. I think the best method would be for them to give a 1 to the best book, etc. If they gave the books grades like A, B, C, there'd be too much subjectivity, unless you scaled it yourself. In fact, it might be more convenient for them if they did only have to assign a grade or the 1-10 scale and then have you scale them. Hmmmm. You could then tally the responses and arrange the books in order of import.

You could complicate things and ask them to vote on other qualities these books might have like, complexity/simplicity, seminal/clarifying, etc. You'd probably be more likely to get a response if you made the process easy. Also, an offer of anonymity might assuage any apprehension or peer pressure. Although this might require them to trust you, unless a process could be developed to ensure it's from the recipient without your knowing which one. But, offering anonymity might CREATE apprehenison by suggesting a reason for apprehension that they themselves would've never considered. (now you know why I'm 'pairunoyd')

You could complicate it even further and let them add a level of confidence to each of their ratings. Some books they may have read countless times, while others they may not have read every page of and may be grading it less on first-hand knowledge and more on others' opinions or their own assumptions. This is the real world afterall. You MIGHT wish to include a blank area so that each economist can write in books, books that might not be directly related to the Austrian School and provide this info as something extra. I think offering them a choice of 'levels of response' would allow those that wish devote less time to the survey a choice and those more willing can take it to the deepest level. You would of course provide the statistics on levels of response to your readers so that they're properly informed.

Or...you could create a forum poll. The voters would be required to have a minimum number of posts or some other qualification. They would vote for the people they respect the most on these forums, respect as it relates to their level of understanding/education on the Austrian School. The 'winners' could then participate in the survey. It'd be a quicker turnaround and much less arduous. Of course, you could pursue both of these ideas and satisfy your fellow forum rats in both the long and short-terms.

Or...you could gather information that's already out there and piece it together as if it were a survey.

Or...

Re: Praxeology: reading list

Black Bloke — Thu, 20 Dec 2007 10:04:27 GMT

The link for the Boettke work: http://economics.gmu.edu/pboettke/pubs/articles/wrong.htm

Re: Praxeology: reading list

econ student — Wed, 19 Dec 2007 20:38:56 GMT

Mark B.:

I just picked up "The Road to Serfdom" and "The Law" by Bastiat from the library. Considering that my avatar is Bastiat, would probably be fitting that I read his book. :)

I'm actually reading the Bastiat Collection right now. Volume 1 was great. The second book is a little longer and more difficult. The book I'm trying to get my hands on is The Society of Tomorrow, by Gustave de Molinari. Does anybody know where I can purchase this book? Anybody?!?!?

I enjoyed The Road to Serfdom. That was the book that exposed me to the Austrian School.

Re: Praxeology: reading list

Inquisitor — Mon, 17 Dec 2007 12:28:17 GMT

Danny, thanks for adding those in. I'll put them in the main post later on. The articles on market environmentalism are particularly helpful.

Re: Praxeology: reading list

Donny with an A — Mon, 17 Dec 2007 09:56:59 GMT

Hehe I can't believe you put Storfner's essay on that list. For shame!

Your list was pretty long, but I figure I might as well contribute some extra items of interest.

Peter Boettke wrote an awesome essay called "What Is Wrong with Neoclassical Economics? (And What is Still Wrong with Austrian Economics)" which should help some people see how the Austrian program contrasts with the more mainstream Neoclassical paradigm. I definitely recommend checking it out.

More to my speed (and I thought one of the weak points of the above list) is Austrian theory concerning property and public goods. The part of the debate that I'm informed about revolves around environmental issues, so I won't add to the sources already mentioned in areas like defense, desocialization, and public goods like lighthouses and roads. For what it's worth, here are some pretty solid essays:

Roy E. Cordato - "Market-Based Environmentalism and the Free Market: They're Not the Same" (be sure to check out Peter J. Hill's excellent response, "Market-Based Environmentalism and the Free Market: Substitutes or Complements?")

Randall G. Holcombe - "Common Property in Anarcho-Capitalism"

Mark Pennington - "Liberty, Markets, and Environmental Values: A Hayekian Defense of Free-Market Environmentalism"

Murray N. Rothbard - "Law, Property Rights, and Air Pollution" (Most Austrians point to this essay with deference; I think it shows just how wrong you can go with Menger's framework. It's a must read for anyone hoping to work near the intersection between Austrian economics and property theory)

It should go without saying that reading these essays wouldn't make one an expert in the issues they address. It's important to build a foundation with the ideas that have been embraced by the greater philosophical and economic communities, like those of Locke, Marx, Hardin, Coase, Nozick, and others. So if you don't understand what each of those guys said, start there. Start playing with Austrian ideas once you can appreciate why they're interesting and different. Most Austrian work is interesting as a counterpoint to mainstream theories; on their own I tend to think the Austrian frameworks are extremely weak in this area.

Re: Praxeology: reading list

Mark B. — Sat, 15 Dec 2007 20:23:25 GMT

I think if you read Human Action and Man, Economy and State <with Power and Market> you are well on your way in the Austrian School. I would definately recommend Rothbard's various works on the monetary and banking system also.

I just picked up "The Road to Serfdom" and "The Law" by Bastiat from the library. Considering that my avatar is Bastiat, would probably be fitting that I read his book. :)

<quick edit> "The Road to Serfdom is by Hayek, not Bastiat, didn't want to confuse any newbies by my omitting the name." :)

Re: Praxeology: reading list

Grant — Sat, 15 Dec 2007 18:22:58 GMT

Nathyn:
Popper isn't a specific topic. His statements about falsifiability are basic philosophy of science. If you've done "a lot of reading," you should know this.

And they relate to economics - how? Don't get me wrong, I like Popper. I think he gets a bad rap in many circles. But I don't see how his ideas about falsification in the natural sciences apply to economics, where repeated experimentation is basically impossible.

Re: Praxeology: reading list

mike barskey — Sat, 15 Dec 2007 01:05:42 GMT

Thank you both for your info on praxeology for beginners.