This book clarifies the specific nature of the Austrian theory and
restores the unity and open-mindedness of the Austrian school in general.
The intention is not to offer a collection of different or parallel ideas, but
rather to retrace, from a pedagogical and constructive perspective, the various stages of
the construction of a well-founded theoretical edifice: from Ludwig von Mises to Murray
Rothbard, from Friedrich Hayek to Israel M. Kirzner and from Lachmann to Lavoie. The book
is a reconstitution of the way Austrian ideas and concepts organize themselves in a common
structure.
Providing a clear distinction between economic analysis and doctrine, this in-depth and
unified theoretical book will be valuable to postgraduate students and researchers of
economics. It is a great introduction to major Austrian theories including money, the
firm, cognitive psychology, comparative economic systems and economic information.
Thierry Aimar, Assistant Professor of Economics, Sciences Po Paris,
University of Nancy 2, the Paris 1 Panthéon-Sorbonne and ESSEC Business School Paris,
France
Table of Contents
1 Mises and Austrian tradition 5
2 Praxeology, axiomatic system of economics 25
3 Action and interpersonal exchange : the limits of the a priori approach
41
4 Market formation 59
5 A world of discovery 73
6 Tendency towards equilibrium 103
7 The debate on collectivism 153
8 Austrian theory of the business cycle 187
9 Welfare economics : workable definitions 219
App Schumpeter and the Austrian tradition 247
General conclusion 255
Bibliography 257
Analytical index 291
Index of names 299
280 pages, Hardcover