Quarterly Journal of Austrian Economics

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Principles of Economics: An Austrian Critique

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07/30/2014Munir Quddus

Volume 5, No. 2 (Summer 2002)


Here we discuss briefly Mankiw’s ten principles of economics and offer a critique of these principles à la the Austrian School of economics. A textbook in economics completely based on principles of modern Austrian economics is yet to be written. When such a textbook is written, perhaps this discussion will help the author design the text. We would strongly recommend to the author that the first chapter of the yet-to-be-written textbook be devoted to the ten or so basic principles of economics, with the rest of the book simply enhancing the explanation and application of these principles. 


Munir Quddus

Munir Quddus is professor of economics and dean of the college of business at Prairie View A&M University.

Cite This Article

Quddus, Munir and  Joseph Horton. "Principles of Economics: An Austrian Critique." The Quarterly Journal of Austrian Economics 5, No. 2 (Summer 2002): 67–77.

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