The Capitalist Alternative: An Introduction to Neo-Austrian Economics 1984 HC/DJ

Description: The Capitalist Alternative An Introduction to Neo-Austrian Economics ALEXANDER H. SHAND Foreword by G. L. S. SHACKLE "Mr. Shand's style of exposition is easy and readable, but behind the march of words, most especially in the chapters on liberty, we can sense a drum-beat of conviction. His book can provide endless suggestions for thought, reading and original work, and shows economics as an enterprise of mind going to the heart of human concern." G. L. S. SHACKLE. Emeritus Professor of Economics, University of Liverpool. This major new textbook presents in a single volume a complete introduction to the most important aspects of the neo-Austrian school of economics. Emphasising the crucial differences between the neo- Austrian and the neo-Classical, Keynesian and Marxian approaches, the author relates this radical approach to key issues in current economic debate, including the microfoundations of macroeconomics and the role of expectations in the theories of inflation. The book reflects the Austrian conviction that capitalism offers the best guarantee of personal freedom, economic and social well-being, and it includes a thorough discussion of the seminal concepts of liberty, equality and socialism. At a time when both economic theory and policy in the West have been derived more from Hayek than from Keynes, it is essential that those seeking to understand modern economics should understand the basic tenets of neo-Austrianism. The Capitalist Alternative is the first introductory guide to this major area of economic theory and will be invaluable for undergraduate students. ALEXANDER H. SHAND is Senior Lecturer in Economics at Manchester Polytechnic. He is the author of Subjectivist Economics: The New Austrian School (with G. L. S. Shackle, The Pica Press, Oxford, 1981). ISBN 0-8147-7837-2

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