Living Economics

Economics is not merely a game to be played by clever professionals, but a discipline that touches upon the most pressing practical issues at any historical juncture. The wealth and poverty of nations is at stake; the length and quality of life turns on the economic conditions individuals find themselves living within. Touching upon a variety of subjects—including market socialism, political economy, and economics education—this reference contains the wisdom of an expert in the field, Peter J. Boettke. The passion of the teacher is often the inspiration for a student. Living Economics illuminates how economics affects all walks of life, whether in the marketplace, voting booth, church, family, or any human activity. Boettke believes that economics is not merely a game to be played by clever professionals, but a discipline that touches on the most pressing practical issues at any historical juncture. The wealth and poverty of nations are at stake; the length and quality of life turns on the economic conditions individuals find themselves living with. So teaching and learning economics are high stakes ventures. Along the way he introduces us to major thinkers: from the Late Scholastics in 16th- and 17th-century Spain to Smith, Say, and Bastiat of the Classical School, to Austrian School scholars (Menger, Mises, Hayek, Kirzner, and Rothbard) on to New Institutional economists (Alchian, Coase, Demsetz, North, Ostrom and Williamson) and Public Choice theorists (Buchanan, Tullock, and others). This engaging and reasoned book is a must-read for economists, students, and everyone else who wishes to better understand economics. A great supplemental text for the teaching of economics, this book offers a clear perspective and a passion for a deeper understanding of the subject.