Shulph Ink
Market Process and Market Order: From Human Action, But Not of Human Design
Market Process and Market Order: From Human Action, But Not of Human Design
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This book explores the Austrian School of political economy to understand market processes, rules, customs, and institutional arrangements that facilitate specialization and trade. It emphasizes how individuals are guided by private property, prices, and profit and loss signals, despite imperfect decision-making. The diversity of topics and approaches makes it of interest to readers in various fields.
Format: Hardback
Length: 300 pages
Publication date: 15 September 2022
Publisher: Lexington Books
This comprehensive volume delves into the profound insights and influential thinkers of the Austrian School of political economy, aiming to enhance our understanding of diverse facets of the market process. By examining the ways in which individuals coordinate their diverse interests in a peaceful and productive manner, the book explores the formation of market prices, rules, customs, cultural norms, and institutional arrangements that facilitate specialization and trade. Through these dynamics, a market order is established, mitigating potential social conflicts and fostering the conditions for social cooperation and specialization under the division of labor.
Scholars within this tradition emphasize the role of private property, prices, and profit and loss signals as guiding forces in human decision-making, even though these outcomes may not be explicitly designed by humans. The wide range of topics and approaches covered in this volume make it of interest to readers across various disciplines, including anthropology, economics, entrepreneurship, history, philosophy, political science, and public policy. By exploring the interplay between individuals, markets, and institutions, this book offers valuable insights into the complex dynamics that shape our economic and social world.
Weight: 596g
Dimension: 159 x 235 x 28 (mm)
ISBN-13: 9781666915013
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