The Continuing Relevance of Austrian School Economics

n their new book, Austrian Economics: An Introduction, Christopher Coyne and Abigail Hall, both professors of economics, offer a concise, accessible volume with a humble title that fills a major gap in the literature for those curious about the Austrian school of economics. Recognizing that the Austrian school often carries baggage and can be a source of confusion, the authors immediately clarify what it is not. It is not about the economics of Austria, neither is it a political philosophy or libertarian manifesto, nor a rigid checklist of political stances. It is an uncompromising study of purposive human action under conditions of radical uncertainty and scarcity. Read Full Article »