Capital is Disequilibrium: The Role of Capital in a Changing World, by Peter Lewin

Overvaluing Uncertainty

Mises Review 7, No. 1 (Spring 2001)

CAPITAL IN DISEQUILIBRIUM: THE ROLE OF CAPITAL IN A CHANGING WORLD
Peter Lewin
Routledge, 1999; ix + 255 pgs.
 

Peter Lewin here undertakes a difficult task and carries off his mission with notable success. He studied with the late Ludwig Lachmann, by whose thought he has been greatly influenced. But to carry on the work of his mentor, as Dr. Lewin in this book endeavors to do, prima facie raises a difficulty.

Capitalism: A Treatise on Economics, by George Reisman

A Masterful Treatise

Mises Review 7, No. 3 (Fall 2001)

CAPITALISM: A TREATISE ON ECONOMICS
George Reisman
Jameson Books, 1998, l + 1046 pgs.
 

Professor Reisman centers his enormous book about a key insight: It is capitalists who run the capitalist system. (He has been greatly influenced by Ayn Rand, and I suspect that his claim is in part inspired by Atlas Shrugged.) This insight enables him to bring out a vital aspect of Austrian economics, essential to a grasp of that system of thought. 

The Long Truce: How Toleration Made the World Safe for Power and Profit, by A.J. Conyers

Does Liberalism Lead to Absolutism?

Mises Review 7, No. 3 (Fall 2001)

THE LONG TRUCE: HOW TOLERATION MADE THE WORLD SAFE FOR POWER AND PROFIT
A.J. Conyers
Spence Publishing Company, 2001; xiv + 266 pgs.
 

A supporter of the absolute state might defend his cause with many slogans, but freedom of religious opinion, one would think, could hardly find a place among them. Professor Conyers disagrees: he maintains that in the history of modern Europe, toleration has had a distinctly illiberal outcome.

Basic Economics: A Citizen’s Guide to the Economy, by Thomas Sowell

Sowell at His Best

Mises Review 7, No. 3 (Fall 2001)

BASIC ECONOMICS: A CITIZEN’S GUIDE TO THE ECONOMY
Thomas Sowell
Basic Books, 2000, xi + 366 pgs.
 

I am jealous of Thomas Sowell. He has a genius for the striking fact and the apt analogy. These enable him to present his points in a way that readers will not soon forget. He aims in Basic Economics to present elementary economic principles that he thinks most people ignore at their cost. He manages to achieve his goal without a single diagram and with few technical terms.