Economists of the Twentieth Century

2 total works

The Logic of Action One

by Murray N. Rothbard

Published 4 September 1997

In this, the first of two volumes, Murray Rothbard - one of the major figures in twentieth-century Austrian economics - argues with clarity and force that economics is a deductive science based on the fundamental realities of action, scarcity and the passage of time.

Such conviction is demonstrated in the first part of this book, where Professor Rothbard analyses method. The second part focuses on some of the theoretical debates within the Austrian school, including property and justice rights, welfare economics, value and efficiency. In the third section Rothbard considers the Austrian approach to money and calculation, including discussion of the definition of the supply of money, freely floating exchange rates and calculation and its role under socialism.

This latest volume of Murray Rothbard’s work goes some way to represent the important contributions he made to the field. The second volume of Murray Rothbard’s essays on Austrian economics is also available.

The Logic of Action Two

by Murray N. Rothbard

Published 4 September 1997

Murray N. Rothbard was the leading voice of the Austrian School of Economics during its post-war American revival. His research in economic theory, history, method and policy, was the major impetus for today's burgeoning interest in the Austrian School and the broader realm of free-market thought.

The Logic of ActionTwo is a careful selection of Rothbard's most important scholarly articles. Some have appeared in mainstream journals, others have been long out of circulation, and still others are published here for the first time. It was Rothbard's major ambition to shore up the scientific status of the Austrian School and, at the same time, demonstrate the theory's radical, free-market implications for government policy.

The book confirms Rothbard as an intellectual giant, and presents his many contributions to the Austrian School, a systematic alternative to mainstream thought that reaches radical, free-market policy conclusions.