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Mises and Austrian economics: A personal…

Mises and Austrian economics: A personal view

by Ron Paul

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In this very brief booklet (only 23 pages), Ron Paul provides a short overview of Austrian economic theory, with focus on the theory as it was defined by Ludwig von Mises. Concerned with individual liberty, Paul began studying Austrian theory with its focus on free markets as a means to achieving liberty for society.

Dr. Paul, a obstetrician/gynecologist by profession, was inspired by his education in fundamental economics from the works of Mises to run for a position in the U.S. House of Representatives, where he has now served 10 terms. While providing the economic overview, Paul also speaks of its impact or lack of impact in our current political environment, and on our governmental policies both foreign and domestic.

Paul's knowledge of Austrian economics is evident from reading this introduction. Using minimal technical language, he provides a very readable introduction that covers the key concepts addressed by Mises in his works; subjective theory of value, monetary fundamentals, time preference, marginal utility and the business cycles that result from market capital manipulation.

Whether you are new to economic theory, new to Austrian economic theory or just want a brief refresher, Dr. Paul's overview is a brief and easy to digest primer. ( )
  JDubba | Dec 22, 2007 |
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