The Logic of Action I: Method, Money, and the Austrian School (Economists of the Twentieth Century) (v. 1)

The author argues that economics is a deductive science based on the fundamental realities of action, scarcity, and the passage of time. He analyzes method, focuses on some of the theoretical debates within the Austrian school, including property and justice rights, welfare economics, value and efficiency, and considers the Austrian approach to money and calculation, including discussion of the definition of the supply of money, freely floating exchange rates, and calculation and its role under socialism.