The Theory of Dynamic Efficiency

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Taylor & Francis, 2009 - Business & Economics - 359 pages
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This book gathers a collection of English language essays by Jesús Huerta de Soto over the past ten years, examining the dynamic processes of social cooperation which characterize the market, with particular emphasis on the role of both entrepreneurship and institutions. The author's multidisciplinary approach to the subject is in keeping with a trend in economic thought established by the Austrian school of economics; a discourse that had witnessed a significant revival over the last thirty years.

Areas covered in this book include an introduction to the theory of dynamic efficiency as an alternative to the standard paretian criteria, an explanation of the differences between the Austrian and the neoclassical approach to economics, a generalized definition of socialism that allows the joint application of the analysis of interventionism, a dynamic Austrian approach to the analysis of free market environmentalism, nationalism, the reform of Social Security and the theory of banking and an evaluation of the role of Spanish Scholastics of the Sixteenth Century.

 

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Excellent textbook on austrian economics...

Contents

1 The theory of dynamic efficiency
1
2 The ongoing Methodenstreit of the Austrian School
31
3 Conjectural history and beyond
61
4 Entrepreneurship and the economic analysis of socialism
63
5 The crisis of socialism
84
6 Entrepreneurship and the theory of free market environmentalism
94
7 A theory of liberal nationalism
100
8 A libertarian theory of free immigration
112
13 A Hayekian strategy to implement free market reforms
182
The deconstruction of the state through direct democracy
200
15 Juan de Mariana and the Spanish scholastics
204
16 New light on the prehistory of the theory of banking and the School of Salamanca
211
17 Ludwig von Mises Human Action as a textbook of economics
229
18 In memoriam of Murray N Rothbard
255
19 Hayeks best test of a good economist
258
20 The Ricardo effect
261

9 The crisis and reform of social security
120
10 A critical analysis of central banks and fractionalreserve free banking from the Austrian School perspective
139
11 A critical note on fractionalreserve free banking
148
12 The ethics of capitalism
169
Interview the Spanish roots of the Austrian School
263
Notes
276
Index
352
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About the author (2009)

Jesús Huerta De Soto is Professor of Political Economy at King Juan Carlos University in Madrid.

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