Austrian School economists gave us the ideas of marginal utility, opportunity cost, and the importance of time and ignorance in shaping human choices and the markets, prices and production systems that stem from them. 'Austrian' economics has revolutionised our understanding of what money is, why economic booms invariably turn to damaging busts, why government intervention in the economy is a mistake, the importance of time and information in economic decision-making, the crucial role of entrepreneurship, and how much economic policy is just plain wrong. Eamonn Butler explains these ideas in straightforward, non-technical language, making this Primer the ideal introduction for anyone who wants to understand the key insights of the Austrian School and their relevance and importance to our economic situation today.
Freedom 101 is a personal refutation by Dr Madsen Pirie of many of the common errors of economic, political and social debate. He has selected 101 of these erroneous assumptions in order to show why they are not correct. Many of them are in daily circulation as if they were truisms. We are told that, 'the world is running out of scarce resources' or that, 'we should protect the poor by fixing the price of essential goods'. The author shows in his pithy style why these and other assumptions are incorrect. Of his selected 101, some are based on errors of fact, some on false arguments, and many of them on a misunderstanding of how economics works. This is a refreshing book, full of sharp insights to help readers clarify their own thoughts and equip them to bring that same clarity to aid the understanding of others in discussion and debate.
Edited by Dr Richard Wellings, this short book is an accessible introduction to liberty – one of the key concepts of political and economic thought. It explains why liberty is so important and sets out in clear language the benefits of freeing individuals from big government. The guide consists of ten concise chapters, each focusing on a particular aspect of liberty and written by an expert in the field. The authors show why liberty is essential if people are to lead prosperous and fulfilling lives, and also point to the terrible consequences when politicians and officials get too much power. At a time when our freedom is threatened by a rising tide of government controls, A Beginner’s Guide to Liberty is essential reading.
Adam Smith’s The Wealth of Nations is one of the most important books ever written. Smith recognised that economic specialization and cooperation was the key to improving living standards. He shattered old ways of thinking about trade, commerce and public policy, and led to the foundation of a new field of study: economics. And yet, his book is rarely read today. It is written in a dense and archaic style that is inaccessible to many modern readers. The Condensed Wealth of Nations, by Dr Eamonn Butler, condenses Smith’s work and explains the key concepts in The Wealth of Nations clearly. It is accessible and readable to any intelligent layman. This book also contains a primer on The Theory of Moral Sentiments, Adam Smith’s other great work that explores the nature of ethics.
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