- Paperback: 417 pages
- Publisher: NYU Press; New edition edition (June 1, 2007)
- Language: English
- ISBN-10: 0814740502
- ISBN-13: 978-0814740507
- Product Dimensions: 6.1 x 1.2 x 9.2 inches
- Shipping Weight: 1.4 pounds (View shipping rates and policies)
- Average Customer Review: 8 customer reviews
- Amazon Best Sellers Rank: #1,956,114 in Books (See Top 100 in Books)
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“The next economics will have to be centered on supply and the factors of production rather than being functions of demand. I've read Mark Skousen’s book twice, and it comes the closest to achieving this goal.”
-Peter F. Drucker,Claremont Graduate University
“Skousen’s Structure of Production should be a required text at our leading universities. The book masterfully juxtaposes the ideas of the 'Austrians' against mainstream economics yet it is balanced, fair, well written and clearly illustrated. It is an important book for students of economics and a treasure for academics.”
-John O. Whitney,Emeritus Professor in Management Practice at Columbia University
About the Author
Mark Skousen is a Presidential Fellow at Chapman University in California. Since 1980, Skousen has been editor in chief of Forecasts & Strategies, a popular award-winning investment newsletter. He has written for the Wall Street Journal, Forbes, the Christian Science Monitor, and the Journal of Economic Perspectives. His economics works include The Structure of Production (NYU Press), The Making of Modern Economics (ME Sharpe), Economic Logic (Capital Press), and EconoPower (Wiley &Sons). His investment books include Investing in One Lesson (Capital Press), and The Maxims of Wall Street (Eagle Publishing). His latest book is A Viennese Waltz Down Wall Street: Austrian Economics for Investors (LFB Publishers).
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This fascinating book helps to explain, in simple terms, how the economy works and attempts to come to grips with various aspects of interrelated micro and macro concepts;tying them all together to provide a logical and realistic system of economics.
Does he succeed? I still have many questions. And some he himself have been highlighted in the closing chapter on 'The Future of Economic Research'. But what the author does is turn our attention to the important role of capital in the structure of production, and the effects of various monetary policy on this structure. Now the author does much more, but to my mind, these are the two most important contributions that he has made.
Skousen also highlights, through his painstaking examination of various authors and theories, that economic development and wealth are only created through due attention to the capital section of an economy. There is no quick way to national development. In doing so, he domolishes the Keynesian allusion that we can 'consume' our way to prosperity- either as a policy of 'national growth' or as a solution to a recession.
This book is a must for the serious economics reader. It is readable and understandable. There is no maths and some graphs which are well explained. But there is plenty of is good, solid, verbal economic analysis. Buy this book and you won't be disappointed!