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Category — Living Economics (Boettke)

Real World Economics (key to understanding real-world energy)

“If you want to be an economist, it would be wise to study the economy.” [1]

It was a simple but profound statement made in an everyday email exchange. The writer was Peter Boettke, the author of an important new book, Living Economics: Yesterday, Today, and Tomorrow (reviewed below), which makes a case for realistic, applicable, fascinating economics in place of so much of the hyper-theoretical, classroom variety.

Real-world economics elucidates the world of business, politics, and decision-making in general. Such analysis and application brings in real-world energy, the subject of MasterResource and much of my books.

A prolific scholar, Dr. Boettke is BB&T Professor for the Study of Capitalism, Mercatus Center, and University Professor of Economics and Philosophy, Department of Economics, all at George Mason University. He was profiled for his good teaching work in the Wall Street Journal piece, Spreading Hayek, Spurning Keynes.

Boettke is considered a leader of Generation 6 of the Austrian School of Economics. [2] Yes, the iconic Milton Friedman said there was only good economics and bad economics, and not schools of thought. But Austrianism is surely a useful way of characterizing real-world economics premised on sound assumptions and logical reasoning.

Hail to Boettke’s new book! What follows is a review, “Economics By and For Human Beings,” by big-picture-thinker Jeffrey Tucker. Tucker, formerly of the Mises Institute, is now executive editor at Laissez-Faire Books. [Read more →]

May 18, 2012   No Comments