Robert P. Murphy is a visiting assistant professor
of economics at Hillsdale College, a visiting scholar at New York
University, and a senior fellow in business and economic studies at
the Pacific Research Institute. He is the author of several books,
including How Privatized Banking Really Works, Lessons for the
Young Economist, The Politically Incorrect Guide to Capitalism, and
Study Guide for Ludwig von Mises' Human Action. His articles have
appeared in numerous publications, including Economic Affairs,
Forbes, Investor's Business Daily, and the Los Angeles Times and he
has appeared on CNBC, C-SPAN, Fox Business Network, and other
television and radio networks and programs.
Donald J. Boudreaux is research fellow at the
Independent Institute, an associate editor of the Independent
Review, and the chairman and professor in the department of
economics at George Mason University. He has been president of the
Foundation for Economic Education and associate professor of legal
studies and economics at Clemson University. His articles have
appeared in the American Spectator, Investor's Business Daily,
Journal of Commerce, the Wall Street Journal, and the Washington
Times, and several scholarly journals such as Antitrust Bulletin;
the Journal of Money, Credit, and Banking; Southern Economic
Journal, and the Supreme Court Economic Review. He lives in
Fairfax, Virginia, USA.
"No one working today rivals Robert Murphy in his superb book,
Choice, with an all-too-rare, lively writing that engages as well
as instructs the general public. And what Murphy offers here is no
mere primer. Choice is something quite unique: a genuine treatise
on economics that instructs and entertains even non-economists. Any
reader of this book will learn both the important basic truths
about the science of economics and the crucial value of individual
choice, entrepreneurship, and free markets."
--Donald J. Boudreaux, Professor of Economics, George Mason
University "In Choice, Robert Murphy's achievement is
extraordinary. He not only makes Human Action more easily
understandable, but also does what Mises could not do. He relates
Mises's ideas to late twentieth and early twenty-first century
developments in economics and other fields and shows how these
ideas are so vitally important for both economists and the general
public alike."
--Mario J. Rizzo, Director, Program on the Foundations of the
Market Economy, New York University "Human Action by Ludwig von
Mises is the greatest of all economic tomes. In Choice, Robert
Murphy brings this masterwork down from the summits of theory and
history into the hands of today's citizens in the form of a pithy
text as topical as headline news and as trenchant as the original
work of the Austrian titan himself."
--George Gilder, author, Wealth and Poverty and other books "If you
seek to understand the Austrian economist's way of thinking, Choice
is a great place to start. Robert Murphy does an excellent job
leading the reader through the key insights in Ludwig von Mises's
classic Human Action and then expanding upon them. He uses clear
examples to show the similarities and differences between Austrian,
Marxist, classical, and neoclassical approaches to economic
reasoning. I strongly recommend it."
--Price V. Fishback, Thomas Brown Professor of Economics,
University of Arizona "Ludwig von Mises's Human Action remains the
premier presentation of Austrian economics. Its 900 pages, however,
doubtlessly inhibits many people from reading this masterpiece.
With his wonderful book Choice, Robert Murphy presents a convenient
solution for such people: in 300 pages, he presents a very readable
précis of Human Action, one whose fine quality will surely inspire
many readers to turn to Mises himself."
--Richard Wagner, Harris Professor of Economics, George Mason
University "In Choice, economist Robert Murphy has achieved the
much-needed idea of rendering Ludwig von Mises's masterwork, Human
Action, in prose that is user-friendly to 21st century speakers of
English with no prior training in economics. The result is a great
read--and by preserving the core insights of Austrian economics in
this way, Murphy has performed an invaluable service."
--Gene Epstein, Economics Editor, Barron's "Ludwig von Mises was
not only the greatest economist of his time, he remains arguably
the most important economist of our time. Robert Murphy's Choice
captures the essential Misesian contributions to the science of
economics. Students will benefit greatly from a careful reading of
Murphy and it will prepare them to better appreciate the depth of
Mises's contributions. Highly recommended!"
--Peter J. Boettke, University Professor of Economics and
Philosophy, George Mason University "Robert Murphy is a gifted
expositor and one of the great teachers of Austrian School
economics. What a delight to see him turn his talents to Mises's
seminal work! Human Action is a profoundly important book, but its
insights are not always accessible to the modern reader. Murphy's
thorough, engaging, and funny book Choice will help spread Mises's
message far and wide."
--Peter G. Klein, Professor of Entrepreneurship, Baylor University
"A condensed and readable version of Ludwig von Mises's Human
Action would be a significant contribution to economics. Such a
book now exists in Choice that places Human Action in the context
of Mises's own body of work as well as the evolving literature of
Austrian School economics and other schools of thought. Choice
would certainly further serve as an excellent undergraduate
textbook for students in a course in Austrian economics."
--Bruce L. Benson, DeVoe Moore Distinguished Research Professor of
Economics, Florida State University "Choice does fine work in
restating and updating the Austrian school's approach to
understanding economics using language and concepts comprehensible
to wider, non-specialist audiences. Refreshingly free of rhetorical
excesses, Robert Murphy's text provides a clear roadmap to thinking
'like an Austrian' about the challenges facing the American and
global economies."
--Fr. Robert A. Sirico, President, Acton Institute "Nearly 50 years
have passed since Ludwig von Mises produced his final edition of
Human Action. And now thanks to Robert Murphy in his important book
Choice, we have the essentials of Mises's famed treatise
well-tailored for 21st-century readers together with revealing
comparisons of Austrian economics with the modern-day mainstream
alternative."
--Roger W. Garrison, Professor Emeritus of Economics, Auburn
University "Choice is one of the best introductions to modern
Austrian School economics that I have ever read. Its clarity of
writing and stress on the fundamentals of Mises differentiates it
from other works. We owe Murphy a great debt for this book, and one
can only hope that it will be a smashing success both as a textbook
and a book read by the general public. I highly recommend that you
get a copy and read it."
--Robert D. Tollison, Newman Professor of Economics, Clemson
University "Choice is a welcome book--a well-written, penetrating
presentation of Ludwig von Mises's economic analyses and insights.
A most compelling read."
--Steve H. Hanke, Professor of Applied Economics, Johns Hopkins
University "In Choice, Robert Murphy has done a great service by
restating and extending for the modern era the works of Mises,
Hayek, and other Austrian School economists. I expect this will be
the go-to text used by the next generation of students to discover
the importance of market processes for human flourishing."
--Robert A. Lawson, Fullinwider Chair in Economic Freedom, Southern
Methodist University "One reason the writings of Ludwig von Mises
have not penetrated college curricula and the general public may be
that Robert Murphy had not yet written Choice. I have resisted
using Mises in undergraduate classes because, frankly, he is a
difficult read. Murphy, on the other hand, writes clearly and
concisely. His audience includes fellow economists, but is far
broader than that. I can give this book as a gift to friends and
family outside academia. And I can certainly use it in my
university courses."
--Randy Simmons, Professor of Economics and Finance, Utah State
University "Vermont Royster, former editor of the editorial page of
The Wall Street Journal, wrote that Ludwig von Mises's magnum opus,
Human Action, belonged 'on the bookshelf of every thinking man.'
The same can be said of Robert Murphy's wonderful book, Choice.
Murphy has written a comprehensive study of the science of
economics that is accessible to a wide audience. In tracing the
implications of purposive human behavior, this important book
provides crucial insights into the foundations of a free and
prosperous world."
--Christopher J. Coyne, F.A. Harper Professor of Economics, George
Mason University "Choice is a masterful, modern, witty exposition
of the principles of Austrian economics: it simultaneously provides
a delightful guide to Ludwig von Mises's incomparable Human Action,
but also something more--a long-due sequel to it."
--Kevin Dowd, Professor of Finance and Economics, Durham University
"Robert Murphy is a master communicator. In Choice he makes the
main ideas from the most important economics book of the 20th
century, Human Action, accessible to the average person. Once
normal people read this, they'll never look at economic policies
the same way again."
--Benjamin W. Powell, Director, Free Market Institute, Texas Tech
University "Robert Murphy is a very talented communicator of
economic ideas. In Choice, he has taken an immensely complex body
of theory and rich intellectual history and distilled it into a
manageable framework for novice and intermediary readers alike.
This book will be a great way for unfamiliar readers to gain a
thorough understanding of economics via an engaging and
entertaining read."
--Daniel J. D'Amico, William Barnett Professor of Economics, Loyola
University New Orleans "Robert Murphy provides a helpful and
intriguing introduction to the complexity of economics in Choice.
This is an essential guide for a serious student wishing to
understand the field. It also serves as an enjoyable review with
numerous insights for seasoned practitioners. The richness and
resourcefulness of human actions shines brightly and
encouragingly."
--Gerald A. Gunderson, Shelby Cullom Davis Professor of American
Economic Enterprise, Trinity College
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