“Eureka! Skousen has done the impossible. Students love it! I will never use another textbook again.”—Harry Veryser, University of Detroit-Mercy They said it couldn’t be done. Austrian economics is so different, they said, that it couldn’t be integrated into standard “neo-classical” textbooks. Consequently, college students learn nothing about the great Austrian economists (Mises, Hayek, Schumpeter). Professor Mark Skousen’s Economic Logic aims to change that. Based on his popular course taught at Columbia University, Skousen starts his “micro” section with Carl Menger’s “theory of the good” and the profit-and-loss income statement to explain the dynamics of the market process, entrepreneurship, and the advantages of saving. Then he uses a powerful Hayekian four-stage model of the economy to introduce “macro,” including a new Austrian measure of spending at all stages of production (Gross Domestic Expenditures). Economic Logic also offers chapters on: The international gold standard, the defects of central banking, and the Mises/Hayek theory of the business cycle. A full critique of the Keynesian Aggregate Supply and Demand (AS-AD) model, and a revolutionary Austrian alternative. Entrepreneurship, the financial markets, environmental economics, monetary policy and inflation, federal spending and taxes, and government regulation. Leaders of all schools, including Austrian, Keynesians, Marxist, Chicago, and Public Choice.

zlib/no-category/Mark Skousen/Economic Logic Fourth Edition_115945091.epub

Skousen, Mark

Regnery Capital

Capital Press

Simon & Schuster, Washington, D.C., 2014

United States, United States of America

Fourth edition, Washington, D.C, 2014

4th ed, Washington DC, 2013

Intro -- 1. What Is Economics? -- 2. The Fundamentals of Economic Behavior -- 3. Production, Exchange and Consumption: The Structure of Economic Activity -- 4. The Theory of the Firm: The Role of Profit and Loss -- 5. Determining Prices and Output: The Law of Demand -- 6. Supply and Demand -- 7. How Costs Affect Prices -- 8. Monopoly and Competition -- 9. The Factors of Production: Land, Rent and Natural Resources -- 10. The Factors of Production: Wages, Employment and the Productivity of Labor -- 11. The Factors of Production: Capital and Interest -- 12. The Factors of Production: The Role of Entrepreneurship -- 13. Financing Capitalism: Stock and Bond Markets -- 14. Understanding the Macro Economy -- 15. Measures of Economic Activity, Income and Wealth -- 16. Price Inflation and the Purchasing Power of Money -- 17. Economic Growth: The Role of Saving, Investment, and Technology -- 18. Money and the Commercial Banking System -- 19. Inflation, Central Banking and Monetary Policy -- 20. Fiscal Policy and the Role of Government -- 21. Government Revenues and Tax Policy -- 22. Deficit Spending and the National Debt -- 23. Government Regulations and Controls -- 24. Environmental Economics -- 25. Expansion and Contraction: Economics of the Business Cycle -- 26. Globalization, Protectionism and Free Trade -- 27. Development Economics: Capitalism, Socialism and Democracy -- 28. What Do Economists Do? -- Glossary of Economic Terms -- Index -- About the Author

2024-12-16