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Redeeming Economics Rediscovering the Missing Element eBook John D Mueller

Download As PDF : Redeeming Economics Rediscovering the Missing Element eBook John D Mueller

“Groundbreaking.” —Washington Examiner


Economics is primed for—and in desperate need of—a revolution, respected economic forecaster John D. Mueller shows in this eye-opening book. To make the leap forward will require looking backward, for as Redeeming Economics reveals, the most important element of economic theory has been ignored for more than two centuries.

Since the great Adam Smith tore down this pillar of economic thought, economic theory has been unable to account for a fundamental aspect of human experience the relationships that define us, the loves (and hates) that motivate and distinguish us as persons. In trying to reduce human behavior to exchanges, modern economists have forgotten how these essential motivations are expressed as gifts (or their opposite, crimes).
 
Mueller makes economics whole again, masterfully reapplying the economic thought of Aristotle, Augustine, and Aquinas.
 

Redeeming Economics Rediscovering the Missing Element eBook John D Mueller

This is an excellent book. It directly addresses what I have always thought was a missing piece in economics in general, and Austrian economics in particular (I mention that because I believe the Austrians have the best overall take on economic theory - with the above caveat in mind). Economist in general have a definite tendency to think of people strictly in terms of basic economic actions like property acquisition, production of goods, and market transactions (exchange). In the case of many libertarians, this is so extreme that they are unable to even imagine people acting out of sheer love or hatred, when it's "obvious" for everyone to see that free exchange is the cure for all misunderstandings. This in turn leads to a naive view of foreign policy and defense matters. In any event, this book is a formidable, well reasoned attempt at providing the missing piece. It explains many aspects of economics in a way I had not seen before, and it made sense to me. I am still debating, in my mind, whether the "final distribution" function really belongs to economic theory or the broader category of "human action," but that's a relatively moot point in so far as the book makes it clear how there are significant economic impacts from actions not recently considered to be even worth studying in the context of economic science. The book is also, as an added bonus, a pretty good overview (though succinct) of economic science history. Finally, unlike many books who are long on criticism and short on proposals, this one does contain many economic policy recommendations (such as tax reform) which to me seem to make a lot of sense. I already held many similar views, but the author gave me a much firmer foundational understanding of their underpinning principles. Highly recommended to anyone interested in economics.

Product details File Size 6511 KB Print Length 400 pages Publisher Intercollegiate Studies Institute (April 8, 2014) Publication Date April 8, 2014 Sold by  Digital Services LLC Language English ASIN B00JBRUK2G

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Redeeming Economics Rediscovering the Missing Element eBook John D Mueller Reviews

Book was not in good condition. Extensive writing and notes, through out whole book.
Mueller provides an in-depth explanation of what is missing from popular economical theory. He begins with a thorough explanation of the history of economics and the basic philosophical principles behind the varying theories. He then leads you into a presentation of the claims of these economic theories, from scholastic, to classical, to neo-classical, and neo-scholastic. In the midst of each presentation Mueller provides a claim for or against each theory and the ideas for reformation of current economic policy. This is a comprehensive work of economic literature that I truly enjoyed reading.
Rxplains why Adam Smith just did not make complete sense, like something missing. For a non economist like myself it is an easy read, great to bring the metaphysical in a world that seems to have lost its way.
Over the years various models of human behavior have been devised wherein each person is a rational utility maximizer. These models seem as though they should work, but somehow they never really do. Both economics and political science have been subject to these deficient interpretations of human behavior for some time now. Finally John Mueller comes along and points out why these old models are lacking. Going back to some great thinkers of the past (Aristotle, Augustine, and Aquinas) he gives us neo-Scholasticism and a description of human action that actually works. This is a great piece of work that is sure to have a profound influence on both economics and political science.
I've taught economics and statistics at the high school level for thirty-five years, the last twenty-five in Jesuit institutions. I wrote Apostles and Markets as a way to bridge what I perceived to be a gap between Catholic social doctrine and sound economic analysis. As Mr. Mueller pointed out when he generously looked at some of the A&M lessons, my first attempt was trying to put a round peg (Chicago school economic analysis) in a square hole (Catholic social doctrines). He was correct. Mr. Mueller's book is the most profound book on the subject that I've ever seen. The enterprise to recover a coherent synthesis of economics and morality is a tremendous gift. It is a triumph of clearly expressed scholarship. It has inspired me to begin work on a second edition of Apostles and Markets, one that builds high school lessons on all four pillars of economic analysis from the Catholic scholastic synthesis. Economic freedom, properly understood, is a key element in this synthesis. Thank you John D. Mueller.
Economics is not one of my primary interests but more an occasional fascination. Many economics texts, frankly, are dry and rather dull. But occasionally a book comes along that causes me to rethink everything I thought I knew on the subject. Years ago Henry Hazlitt’s Economics in One Lesson caused such a paradigm shift in me toward a longtime slant toward the Austrian school of economics. Now I have another highlight in my readings in economics, it is this book.

Mr. Mueller’s assertion that we have lost a key concept of economics when we ignore distributism has led me down a new direction of study in economics. No other work in economics has given me quite the paradigm shift this one has and made me eager to learn more on this topic. The early chapters provide a cogent and complete economic model or theory and later chapters provide practical implications of that model in modern American political policy. While there may be some debate over the implications Mr. Mueller cites in the end, it is far more difficult to dispute the model he lays out in the beginning. In that sense, I enjoyed the model description of the first chapters a great deal more than his explanations of where he thinks that model leads us in particular policies.

Marvelous book on a topic too many of us have ignored.
This is an excellent book. It directly addresses what I have always thought was a missing piece in economics in general, and Austrian economics in particular (I mention that because I believe the Austrians have the best overall take on economic theory - with the above caveat in mind). Economist in general have a definite tendency to think of people strictly in terms of basic economic actions like property acquisition, production of goods, and market transactions (exchange). In the case of many libertarians, this is so extreme that they are unable to even imagine people acting out of sheer love or hatred, when it's "obvious" for everyone to see that free exchange is the cure for all misunderstandings. This in turn leads to a naive view of foreign policy and defense matters. In any event, this book is a formidable, well reasoned attempt at providing the missing piece. It explains many aspects of economics in a way I had not seen before, and it made sense to me. I am still debating, in my mind, whether the "final distribution" function really belongs to economic theory or the broader category of "human action," but that's a relatively moot point in so far as the book makes it clear how there are significant economic impacts from actions not recently considered to be even worth studying in the context of economic science. The book is also, as an added bonus, a pretty good overview (though succinct) of economic science history. Finally, unlike many books who are long on criticism and short on proposals, this one does contain many economic policy recommendations (such as tax reform) which to me seem to make a lot of sense. I already held many similar views, but the author gave me a much firmer foundational understanding of their underpinning principles. Highly recommended to anyone interested in economics.