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Freedom Book of the Month
Email List Archive
Free-Market.Net's F r e e d o m B o o k o f t h e M o n t h
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Edited by Sunni Maravillosa. To subscribe or unsubscribe to this
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* July, 2002: "Economics for Real People," by Gene Callahan
* New and notable
* From the Way Back Machine
* Correction
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Freedom Book of the Month for July, 2002:
"Economics for Real People: An Introduction to the Austrian
School"
by Gene Callahan
The Ludwig von Mises Institute 2002, trade paper, 339 pp.
ISBN: 0-945466-35-8
Gene Callahan -- or whoever chose the title for this book -- chose
well. "Economics for Real People" is just that, but it's wonderfully,
engagingly, comprehensively economics for real people. With
coverage that rivals an economics textbook, and an inviting writing
style that makes the topics comprehensible to the lay reader,
Callahan fulfills the promise of his book's title and then some.
"Economics for Real People" is divided into four sections, each of
which builds upon the preceding ones in presenting a
comprehensive introduction to Austrian economics. The
fundamental idea is that economics is the science of human
action, and that choices -- the behaviors individuals engage in -- are
the means by which one can understand what individuals value,
and to what degree. Whether addressing basic ideas or complex
topics, this guiding idea is never lost, which helps to anchor the
entire book for nonexpert readers.
I have read other economics books ... even attempted von Mises'
massive tome "Human Action." The other books I did complete
often left me a bit confused on some topics, or became mired in
economic jargon, which hindered my understanding. "Human
Action" -- as far as I've been able to get thus far -- is brilliant, but
*work* to read. Callahan deftly avoids these pitfalls, and in fact
makes von Mises more accessible by highlighting appropriate
quotations from his works liberally throughout "Economics for Real
People." Examples are real-world and easy to understand, but not
overly simplified. In his concluding chapter on "social justice,"
Callahan makes a compelling case for separating state and
economy. For those who wish to delve deeper into Austrian
economics, two appendices and a bibliography make starting the
journey easy.
As I read, I found it not only educational, but personally helpful, as
its admonition that preferences are always trumped by choices
illuminated conflicts between what I claim to value and what my
choices reveal I value. "Economics for Real People" is a terrific
book for pro-freedom people who want to understand individual
behavior and market processes better, and an invaluable primer for
anyone who has yet to be introduced to "the dismal science." Let's
hope it helps shift views away from that nickname to one more
suitable for the important science of human action.
Order "Economics for Real People" from Laissez Faire Books,
http://www.laissezfairebooks.com/product.cfm?op=view&pid=EC8626&aid=FM
$12.50 plus shipping.
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New and notable
o "Escape from Heaven" by J. Neil Schulman
An intriguing theological fantasy novel. God created a clone of
himself as a backup in case of problems with Lucifer, and sure
enough, there are problems. Schulman plows right through all the
"sacred" territory, managing to challenge, offend, and amuse, often
all at once. Who'dathunk Cleopatra reincarnated as Marilyn
Monroe?
To buy "Escape from Heaven," go to
http://www.amazon.com/exec/obidos/ASIN/1584451920/freemarketnetthe/
o "James Madison and the Future of Limited Government," edited
by John Samples
A collection of essays first presented at a Cato Institute conference,
this volume goes far beyond the usual scope of Madison as the
founder of "American Constitutionalism." Informative, thought-
provoking, and highly readable, this volume will be an asset to all
interested in America's founding and founders.
To buy "James Madison and the Future of Limited Government", go
to
http://www.amazon.com/exec/obidos/ASIN/1930865228/freemarketnetthe/
o "The Sorrows of Carmencita," by Mauricio Rojas
An overview of Argentina's economic crisis, focusing on its
economic ourney from riches to rags. Spanning Argentina's
colonial history hrough its present-day woes, it's a thorough
historical examination of Argentina's unique situation and a
cautionary tale for interventionists into the market.
To buy "The Sorrows of Carmencita", email books@timbro.com.
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From the Way Back Machine
Ahhh, July ... the month of vacations, barbecues, and freedom's
birthday in America. This year the flags are waving high in the
post-911 patriotic fever, and more seem to be celebrating our
freedom.
How depressing that many of the actions taken by our government
in the name of freedom are actually destroying it. To help us out of
the doldrums, the Way Back Machine focuses our attention on a
Scotsman whose words in defense of freedom helped frame our
framers' thinking.
Adam Smith's "Wealth of Nations" is well known for its metaphor of
the "invisible hand" to describe market forces at work; his
discussion of pin-making in the context of division of labor is
almost as famous. Yet these bits don't do justice to the breadth of
Smith's thinking, and his enormous contribution to the field of
political economy. In his day, he was a forward-thinking individual
who is arguably the father of economics.
Smith's discussion of capitalism and non-interventionism by the
state were based on his extensive historical knowledge and
observations of events of his day. Yet his ideas and arguments are
still worth reading today. A moral view based on natural rights
(presented in his "Theory of Moral Sentiments") also was
groundbreaking, and influenced the thinking of the men who
became America's founders. In celebrating America's birthday this
month, let's also celebrate a man whose thinking influenced the
shaping of our society, and hope that a modern-day visionary like
Adam Smith can help guide it back to its principles of limited
government and freedom.
To buy an abridged version of "Wealth of Nations," go to
http://www.laissezfairebooks.com/product.cfm?op=view&pid=EC8590&aid=fm.
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Correction
I wrote in last month's Freedom Book of the Month that "Freedom at
Midnight" was out of print. Yazad Jal of India wrote to correct me,
saying in part, "To the best of my knowledge, it has never been out
of print in India and the UK. Amazon UK has paperback copies
available" at
http://www.amazon.co.uk/exec/obidos/search-handle-form/026-5200785-0238828
.
So if you want a shiny new copy of "Freedom at Midnight," you
*can* get one. Thanks, Yazad, for sharing this information with me.
Keep doing freedom,
Sunni Maravillosa
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--
"Anarchism is founded on the observation that
since few men are wise enough to rule themselves,
even fewer are wise enough to rule others."
-- Edward Abbey
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