introduction to austrian economics

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1、AnIntroductiontoAustrianEconomicsAnIntroductiontoAustrianEconomicsThomasC.TaylorLudwigvonMisesInstituteAuburn,Alabama36849CopyrightÓ1980bytheCatoInstitute.ThisworkwasfirstpublishedbytheCatoInstitute;alaterBritisheditionwasbroughtoutbytheAdamSmithInstituteincooperation

2、withtheCarlMengerSociety.TheLudwigvonMisesInstitutewishestothanktheCatoInstituteforitspermissiontopublishthisedition.OnlineeditionpreparedbyWilliamHarshbarger.TableofContents1.Introduction…………………………………………...72.SocialCooperationandResourceAllocation…………123.EconomicCalc

3、ulation………………………………...234.TheSubjectiveTheoryofValue……………………...415.TheMarketandMarketPrices………………………..536.ProductioninanEvenlyRotatingEconomy………….647.FromanEvenlyRotatingEconomytotheRealWorld758.InflationandtheBusinessTradeCycle……………….92AbouttheAuthor……………………………………...

4、981IntroductionThehistoryofeconomicthought,likethatofotherdisciplines,revealsamixtureofsystemsofthoughtthathavebeenseparatedintoparticularschoolsofideas.Thismethodofcategorizingtheideasofdifferentthinkersconcentratesonthelikenessesofcertaingroupswhileovershadowingthei

5、rdifferences.TheFrenchPhysiocratswhorosetoprominenceduringthesecondhalfoftheeighteenthcenturyrepresentthefirstmodernschoolofeconomicthought.Classicaleconomicthought,Marxism,andsocialismsubsequentlyfollowed.Duringthelatterpartofthenineteenthcenturythereemergedinwestern

6、Europetwoclashingschoolsofeconomicthought:theGermanHistoricalschoolandtheAustrianschool.TheGermanHistoricalschoolsoughttodiscovereconomictruththroughthestudyofeconomichistory.In1883theirempiricalmethodologybecamethetargetoftheearlyAustrians,whomaintainedthateconomickn

7、owledgearisesfromtheoreticalanalysisandnotfromthestudyofhistory.Formorethantwodecades,theMethodenstreit,orcontroversyovermethods,persisted.ThismonographisanattempttoexplaintheessentialideasoftheAustrianschool,whichbeganwithCarlMenger,professorofpoliticaleconomyattheUn

8、iversityofViennafrom1873to1903.In1871inhisGrundsatzederVolkswirtschaftslehre(PrinciplesofEconomics),Mengerproducedatheoryofv