I have been schooled in neo-Keynesian and monetarist economics, due to our lovely state-funded university system. I have only recently begun to accept the wisdom of commodity money and complete laissez-faire non-interventionism. The very un-academic Politically Incorrect Guide to Capitalism was the tipping point for me. My question for those who are interested in helping is, what is the best course of study for an aspiring Austrian? Thanks.
Well, the obvious pat answer is the Austrian home-study course from the Mises Institute. However, if you want to start slower, or with a smaller up-front investment, I'd start with Man, Economy, and State, given your previous schooling. From there, Human Action, followed by Principles of Economics (understanding this would put you ahead of a lot of people, I'd say.) Then with this backbone in place, you can expand outwards based on areas of particular interest.
Thank you very much. I wasn't aware that there was a home-study course, but I have found it in the Mises.org store. If I knew that, I wouldn't have had to post the question! :)
i have recently designed the following course for my own use:
rigourous introductory study centers around rothbard's 'man, economy, and state', via robert murphy's accompanying study guide as an auxillary map, and with mises' 'human action', 'theory of money and credit', and böhm-bawerk's 'capital and interest', and menger's 'principals of economics' all as references. Simultaneously, rothbard's audio lectures supplement these, and joseph salerno's analytical video and audio seminars expound on details and cases. Additionally, rothbard's work on natural law and ethics abound in 'power and market', 'for a new liberty', and 'the ethics of liberty'. Walter block's ten lecture audio series is an excellent eye-opener to complement these as a junction of libertarian theory and interventionist critique, and to go further, inspect hans-hermann hoppe's 'democracy: the god that failed', as well as 'the myth of national defense', as well as his ten lecture audio series on the develoment of world capital structure, it's factors, and the rise of the state
good, easy contrarian readers include 'the case against the fed' and 'antitrust: the case for repeal'. Also don't miss rothbard's video lecture on the 'founding of the federal reserve', as well as the mises institute's 'money, banking, and the federal reserve'. In addition, 'what has the government done with our money' is an excellent expose on the history of monetary abuse. As an option, further critiques include mises' 'socialism', 'beuracracy', 'the anti-capitalist mentality', as well as rothbard's 'egalitarianism as a revolt against nature'
for a historical grounding in past thought and in history, consult rothbard's 'history of economic thought', as well as 'concieved in liberty' and 'history of money and banking in the united states'
if you're interested, rothbard's unique and famous case study is 'america's great depression'
upon grasping the history of economic thought from both the neoclassical and austrian perspectives and with firm austrian 'micro' theory, more advanced 'macro' theory can commence. For this, jesus de soto's 'money, bank credit, and economic cycles' is excellent, and roger garrison has excellent contemporary analysis of competing 'macro' theory. Important essays are also compiled in 'the austrian theory of the trade cycle'. Then attack competition theory with the essential israel kirzner, especially his 'competition and entrepreneurship'
for additional work on austrian methodology, you may be interested in mises' later work in 'theory and history', 'epistemological problems of economics', and 'the ultimate foundation of economic science', in addition to hayek's 'fatal conceit'. Rothbard also contributed with 'in defense of "extreme" apriorism', as did hoppe in 'economic science and the austrian method'
all needed material is available from mises.org, except for 'the case against the fed', which is available in paperback, 'fatal conceit', also in paperback, 'history of economic thought', available in hardback. You may want to pick up the hardback of mises' 'theory of money and credit', as the electronic version is poorly scanned, and the book is available for cheap. 'Competition and entrepreneurship' is also only available in paperback, as is 'democracy: the god that failed'
Thank you!
Could one start with Menger's Principles?
Inquisitor: Could one start with Menger's Principles?
I don't see any reason why not. I find MES more readable, and it seems to speak more directly to someone schooled in a neoclassical tradition, but it could work the other way too. Actually, odd as it sounds, I find reading or rereading Heilbronner to be helpful for Principles since it helps to get into the classical framework.