Please consider helping us publish these two new books: The World at War and Austrian Business Cycle Theory: an Introduction. Everyone giving $500 or more will appear as a Patron in these books. To become a Patron, contact Kristy Holmes at kristy@mises.org or DONATE ONLINE.
The World at War
by Ralph Raico
edited by Edward Fuller
To understand war, you also have to understand economics. Ralph Raico’s lecture “The World at War” is a masterpiece. Recorded in 1983, it remains perhaps the best introduction to the classical-liberal interpretation of the two world wars of the twentieth century. Raico touched on many of the topics he discussed in this lecture in his other writings, but he never wove them all together as concisely as he does here. Raico’s interpretation and insights into the causes of perpetual war are much needed today in light of the war-hungry, interventionist politicians that keep the economy on a warfare footing for their own political gain.
Raico was tutored by Ludwig von Mises, Friedrich Hayek, and Murray Rothbard. All were economists and mentors of sorts, giving Raico his unique understanding of what causes war. Raico was the embodiment of Mises’s master historian, whose interpretation of the past is rooted in sound economic theory.
Austrian Business Cycle Theory: An Introduction
by Paul Cwik
The idea for this book came from a lecture on the causes and consequences of the 2007–09 recession given by an economist from the Federal Reserve branch in Charlotte. During his talk and the subsequent question-and-answer period, which took place at the University of Mount Olive some years ago, it became obvious that the Fed economist had no idea what caused the recession. He had only justifications for the actions the Fed had taken to “fix” the recession. How can you fix something if you can’t explain what broke it? As an Austrian economist, Professor Cwik understands that you can’t fix the macroeconomics (the house) without understanding the framework of microeconomics (the foundation).
Today’s Federal Reserve and government economists are only interested in the big picture because they have never been taught how the economy actually works. In this primer on the Austrian business cycle theory for laymen, Cwik sets out to bring this knowledge to all, because only when you understand the smaller parts of how the economy works can you begin to understand how the larger system works.
Austrian Business Cycle Theory: An Introduction is an excellent companion book to Per Bylund’s How to Think about the Economy.
Everyone giving $500 or more will appear as a Patron in each of these books. To become a Patron, contact Kristy Holmes at kristy@mises.org or donate online here.
