This high-school text, published in May 2000, is aimed at teaching the intelligent young reader how to think about economic problems in a manner consistent with the Austrian School tradition. Its chapters on action, preference, demand and supply, value theory, money, and price controls emphasize deductive logic, the market process, and the failures of government intervention.
As the only text of its kind, this book is engaging, funny, filled with examples, and never talks down to the student. It is perfect for homeschoolers, but every student, young or old, will benefit from it. Indeed, a student familiar with its contents will be fully prepared to see through the fallacies of the introductory economics texts used at the college level.
David Gordon is Senior Fellow at the Mises Institute and editor of the Mises Review.
Reading this book confirms Charles Tansill’s emendation of a familiar saying: “The paths of military glory lead but to the grave.” When one considers the horrors of war for the combatants, Rothbard’s argument that the costs of war are virtually never worth paying is strengthened.
In today's Friday Philosophy, Dr. David Gordon revisits The Calculus of Consent by James Buchanan and Gordon Tullock, considered a "classic" by mainstream economists. Murray Rothbard, however, dissented loudly.
Murray Rothbard, like other Austrian economists, believed that the heavy use of mathematics in economic analysis damaged economic understanding instead of enhancing it. This wasn’t science, he said; it was “scientism.”
Auburn, Alabama: The Mises Institute, 2000. An excellent introduction to economic thinking designed for the intelligent high school student, available for purchase or fully downloadable from Mises.org.
