Austrian Economics Re-examined

<p><em>Austrian Economics Re-examined: The Economics of Time and Ignorance</em> is an expanded version of the 1996 edition of The Economics of Time and Ignorance. This work is a classic statement of the role of subjectivism, radical uncertainty and change through real time in Austrian economics specifically, and in modern economics more generally.</p><p>The new book contains the full text and Introductions of the earlier edition as well as the comprehensive previously-unpublished essay "What is Austrian Economics?" and a new Introduction. The essay is a comprehensive overview of the central themes of the book from a somewhat different perspective than in the book itself. It supplements the analysis in the book. The new Introduction explains that the 2007-8 financial crisis and recent developments in behavioural economics have made the book more relevant than ever before.</p><p><em>Austrian Economic Re-examined</em> develops and systematizes the fundamental principles of the Austrian tradition to the analysis of rational expectations, business cycles, monetary theory competition and monopoly, and capital theory.</p><p>The Open Access version of this book, available at https://www.taylorfrancis.com/books/oa-edit/10.4324/9781315776736, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license.</p> <p>Part I. Introduction: A Changing World Part II. What is Austrian Economics? Part III. The Economics of Time and Ignorance Part IV. Austrian Economics: Recent Work Mario J. Rizzo Part V. Responses to Criticism i. Gerald P. O’Driscoll, Jr., "Twenty-Five Years After" ii. Mario J. Rizzo, "Foundations of the Economics of Time and Ignorance"</p>