IV. The Ups and Downs of the Farmer
V. Growth and Inequality
[W]hatever disadvantage or detriment the introduction and use of new and improved instrumentalities or methods of production and distribution may temporarily entail on individuals or classes, the ultimate result is always an almost immeasurable degree of increased good to mankind in general. [However] That many of the features of the situation are, when considered by themselves, disagreeable and even appalling, can not be denied.
Appendix: The Sources of Economic Growth
This appendix explains the derivation of the conclusions presented in Chapter II concerning the sources of economic growth for the period 1869–1914.
The basic assumptions are that the economy has an aggregate production function characterized by constant returns to scale and that all markets are in competitive equilibrium. Given these assumptions, the production function can be written as
Bibliography
The following books and articles range from simple descriptive accounts to highly sophisticated mathematical analyses, but all are informative and worth reading. No reference appears more than once, although many contributed to several chapters of this book.
CHAPTER I
Alchian, Armen A., “Uncertainty, Evolution, and Economic Theory,” Journal of Political Economy, LX (June 1950).
Index
Agrarian protest, 86–102
Agriculture, 3–4, 16–17, 26, 32, 44–45, 48, 59, 63, 79–106
Alabama, 111
Albany, 70
Alchian, Armen A., 13, 15, 19, 98
Allen, William R., 13, 19, 98
American Revolution, 52
Assembly line, 41
Atlanta, 64
Bacteriology, 38, 67
Baltimore, 65
Study Guide Man, Economy, and State
Title Page
STUDY GUIDE
TO
MAN, ECONOMY, AND STATEA TREATISE ON ECONOMIC PRINCIPLES
WITH
POWER AND MARKET
GOVERNMENT AND THE ECONOMY
SCHOLAR’S EDITION
MURRAY N. ROTHBARD
ROBERT P. MURPHY
Copyright
Copyright © 2006 by Ludwig von Mises Institute
All rights reserved. Written permission must be secured from the publisher to use or reproduce any part of this book, except for brief quotations in critical reviews or articles.
Published by the Ludwig von Mises Institute
518 West Magnolia Avenue, Auburn, Alabama 36832-4528.
ISBN-13: 978-1-933550-00-8
ISBN-10: 1-933550-00-7
Dedication
The Mises Institute dedicates this volume
in deepest gratitude to
Mr. Paul C. Reinhard.
Introduction
In June of 2004, I became convinced of the need for a study guide to accompany what is arguably the single most important book for the student of Austrian economics and libertarian policy analysis. Murray Rothbard’s Man, Economy, and State is simply the most comprehensive exposition of Austrian economics that exists. Although Mises’s Human Action is itself a self-contained, beautiful work of sheer brilliance, it is nonetheless the case that, in his subsequent work, Rothbard teaches economics more clearly.
