Man, Economy, and State with Power and Market - Scholar's Edition

Being a student of Free market economics and I’ve studied both schools, Austrian and Chicago, With a greater affinity for the Austrian school, I Believe that human action by Ludwig Von Mises, what is the greatest treatise on economics ever written.Now that I took the time to go through mine economy and state, with power and market by Murray N. Rothbard. This book gives me a readily applicable understanding of praxeology and rational and logical economic principles. I particularly like this book because it allows me to apply sound economic principles to my life as I live it. Being an entrepreneur I find this book to be most appealing in helping me to understand, the business cycle, the utility theory, marginal productivity, Price, interest rates and so much more.I particularly like The biting wit of Prof. Rothbard. His unapologetic Disproving and debunking of many of the fallacious principles we now call economics.This scholarly work Is surprisingly easy to read and understand given Prof. Rathbard’s use of logical pros and easy to understand examples and explanations.After taking four full weeks to go through this material, and has found it to be more applicable to my life as I live it than Human Action I would have to give this book the number one spot in all the economic books from all the discipline that I’ve read. Primarily because of its simplicity in its application.If you are looking for a deep dive into sound economic principles, one that is delivered in an easy to understand away but do not sacrifice the material content of what real Economic Principles are. Then this is the book for you. If you’re looking for an easy Sunday read, then look elsewhere.I would recommend this book to anyone who is serious about understanding Economics in a real way.

Man, Economy and State is a work that is a product of the inspiration brought about by the seminal work of Ludwig von Mises, done more than a decade earlier on what became known as Austrian Economics. That work is titled Human Action.Murray Rothbard the author of Man, Economy and State makes it abundantly clear in his effusive praise of Human Action in the preface and at points within the body of his work that without von Mises’s Human Action there is no Man, Economy and State.So, the question arises should one first read von Mises’s Human Action before reading Man, Economy and State? The simple answer is Yes.That which exists within Man, Economy and State is backlit and placed in context by the light shed on economics by Von Mises Human Action.However, if you have limited time and must choose between the two, I would suggest you read Rothbard’s Man, Economy and State.Why?Because this tome incorporates von Mises’s essential principles presented in Human Action, but as described by Salerno in the book’s introduction, this work extends the development of von Mises’s Praxeological based economic system.In fact, Rothbard, according to Salerno, fills in essential missing elements with original research culminating in constructs that in some instances conflict with those found in von Mises’s Human Action.The case in point is found in the first chapter titled “Fundamentals of Human Action”. Although the book contains 12 chapters (excluding Power and Markets) each worthy of a Book Review in themselves, everything that follows chapter 1 hangs on this foundational chapter. If the reader carefully read, studied and attained a good working understanding of this first chapter of Man, Economy and State and read no further he/she would have gotten their money’s worth.What Rothbard illuminates in Chapter 1 is that which exists beneath the frothy surface of market exchange. What he discovered turned out to be a highly organized structure whereby the rational actor engages with the free market as a buyer or a seller guided by a system based on an organized valuation scale. Valuations to buy or sell based on that which is most valued (Highest Utility) to that which is of lowest valued (Marginal Utility). A systematic decision making structure formerly not visible to those engaged in economic analysis but now made manifest. One that is both definitive and capable of being placed on a graph.This very same conceptual system of valuation becomes applicable to the allocation of non-specific factors of the production process as non-specific factors are reallocated (redeployed) away from highest utility factors of production to lowest (marginal) utility factors of production as market conditions demand.The factor of capital investment is integrated into the methodology within the context of time preference as a determinative element within this conceptual system.Although Rothbard brings to the study of economics many new advancements it is all in the end a function of von Mises’s Praxeology which is the umbilical cord that connects mother to child so to speak.Rothbard points out that economics itself is a sub-division of Praxeology. Praxeology is the study and analysis of purposeful human action. Purposeful human action defined by goal setting and the engagement of means to the end of reaching that goal. Its application can be applied to other areas of human action not just economics.

Que livro meus amigos!Se você planeja aprender economia do zero esse é o livro pra você. Não exige pré-requisitos envolvendo conceitos e conhecimentos anteriores. Qualquer um pode pegar e sair lendo.O autor começa dos conceitos mais básicos e a partir destes vai desenvolvendo os demais conceitos. Às vezes pode ser maçante se debruçar sobre temas que parecem muito simples e "óbvios", entretanto ainda assim recomendo não pular trecho algum, pois por vezes o autor nos traz insights e pontos de vista interessantes sobre aquilo que já sabemos ou mesmo temos uma intuição.Gostei demais da clareza e exemplos que o autor utiliza. Ele consegue de fato demonstrar de forma simples e intuitiva as ideias que defende.Também é imenso. Uma leitura "épica". Mas lembre-se que é uma obra tratando da economia como um todo e partindo do zero. Não tem como ter 200 ou 300 páginas apenas. Se você realmente quer ler esteja preparado!Um ônus é que apesar da didática e a fartura de exemplos, às vezes ele se torna repetitivo demais. Por vezes me deparei com um assunto que entendi da primeira vez e ele se repetiu umas duas ou três vezes.A minha versão é a do kindle. A edição foi boa e preserva bem o conteúdo do livro físico. Mas talvez eu devesse ter adquirido a versão física pra ter na minha estante e emprestar pra amigos ou familiares. Ainda assim pelo custo não tenho do que reclamar.No mais, só tenho a recomendar esta verdadeira obra-prima do campo da economia.

..eines der umfangreichsten Bücher zur Ökonomie und zum Wesen des Staates. (Gemeinsam mit Human Action)Sollte jeder ökonomisch Interessierte gelesen haben.

Man, Economy and State is Murray Rothbard’s magnum opus: a treatise that lays out his comprehensive economic framework from first principles. Using a chain of deductive reasoning that draws on three self-evident axioms common to Ludwig von Mises’ Human Action (humans act purposefully; there exists a variety of human and natural resources; leisure is a consumers’ good) Rothbard examines varied aspects of the free market, and the consequences of coercive intervention.At 1440 pages, this is a long book. It took me three months to finish, reading for what was around an hour a day. However, taking the time to engage properly with the material proved to be a worthwhile investment that took my understanding of economics to the next level.This is the fourth book by Rothbard I’ve read. He is an excellent writer with a talent for expressing complex ideas in a clear and engaging way. He also deals thoroughly with counterarguments to his position, referencing a wide range of relevant literature in the process. Nonetheless, this is the most technical of his books and there are places where it can be hard going (in particular chapters 5-9 on the production structure). The length and technical nature are necessary to work through the deductive journey that begins with the “Crusoe economics” and ends with the complexities of production, monopolies and money. When you have finished, you’ll be pleased you worked through all the stages of the logic.Rothbard is a hugely underappreciated figure, and a towering intellect. This book is the place where you’ll find the full theoretical framework that supports his historical analyses in other works such as American’s Great Depression. If you haven’t come across Rothbard before and you’re looking to dip in, I’d recommend starting with a shorter work such as “What has Government Done to Our Money?” When you’re ready to take the full plunge Man, Economy and State is the place to do it.

Formato perfecto para estudiantes. Muy cómodo (a pesar del número de páginas).

Fantastic book. The go to book for a comprehensive insight