Boettke on Economics

quotes economics

08 Jan 2014

Peter Boettke writes:

I love thinking about economic theory, the puzzles, the paradoxes, and just the logic of a well constructed economic argument. I am also struck by the beauty of an economic explanation of the self-regulating free market economy; how the really great economic thinkers are able to derive the invisible-hand theorem from the self-interest postulate via the institutional analysis of private property rights, relative price adjustments, and profit and loss accounting. Hume, Smith, Ricardo, Say among the classics; Menger, Bohm-Bawerk, Wicksteed, Wicksell among the early neoclassicals; Mises, Hayek, Alchian, Buchanan, Coase, Demsetz, Kirzner, V. Smith, and Tullock among the moderns — all reflect this beautiful logic of economic theory in the hands of a skilled practitioner.

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