Austrian Economics and Public Policy: Restoring Freedom and Prosperity

by Richard M. Ebeling

Austrian Economics is the most powerful explanation of why governments, no matter how well-intentioned, lack the knowledge, wisdom and ability to direct the lives of multitudes of people better than those people can do for themselves. In this book, economist Richard Ebeling introduces you to the central ideas in Austrian Economics, as well as their importance for us today. Over the last 100 years, governments have attempted to replace people’s own free actions for mutual betterment with systems of government regulation, planning, redistribution and control. These have gone under the names of socialism, communism, fascism, National Socialism (Nazism) interventionism, welfare statism, “progressivism,” the “third-way,” social democracy, Keynesianism and many others. Their common premise is that those in political authority and power can micro- and macro-manage the social and economic affairs of human society in ways better and more socially just than the free market.  Austrian Economics shows why and how it is that all these attempts at government social engineering have failed and often with disastrous consequences. So what is Austrian Economics? And what makes it so important to understanding the economic policy issues we face today? Read this book and find out.

Genres: Economics, Politics

472 pages, Kindle Edition

Published August 29, 2016

Reviews

[Qasim Zafar · Rating 4 out of 5]

I thoroughly enjoyed reading this book. It is well organized and written in a manner which is very accessible to the average reader. First the author talks discusses the works of the paragons of Austrian Economic thought, with a primary focus on Ludwig von Mises and F.A Hayek. Murray Rothbard is missing from the analysis because, even though he was an Austrian Economist, he was was also an anarchist, and considering how public policy is the primary focus of this book, Murray's works wouldn't fit into the overall frame of the subject magger the author wants to develop. Next, the author discusses the fallacies of the Keynsians. What I loved especially about this part of the book was the authors intellectual honesty. He used the words of Keyenes and the Keynsians (in context) to describe what they were aiming at, and what their moral and political foundations were. Finally, the author shows how the Keynsian mentality has impacted the economic decisions in the modern economy and its detrimental effects, and how the Austrian solutions are the only way out of this spiral downwards.

[Ronald J. · Rating 5 out of 5]

Fantastic overview of Austrian economics and how it is still relevant to today's economic issues. Richard Ebeling is a fantastic writer and thinker.

[Rafael Ramirez · Rating 5 out of 5]

Un gran libro para conocer las contribuciones de los economistas de la escuela austriaca. Un antidoto contra las falacias del estatismo y el colectivismo que están tan extendidas actualmente. Sólo una sociedad y una economía caracterizadas por el respeto a la libertad y a la propiedad individual, con un gobierno limitado enfocado a proteger estos derechos, pueden lograr la prosperidad y el desarrollo a través del libre intercambio y colaboración de sus miembros y no del poder coercitivo del Estado.

[Tom McCall · Rating 5 out of 5]

Great for those who want to know the history of the Austrian theory of thought.