When Murray Rothbard laid eyes on this classic monograph, he cheered. Here we have a graphical presentation that explains the Austrian view of macroeconomics in contrast to the simple and even simple-minded approach of the Keynesian aggregates.
The value here is to highlight the distinct emphasis of the Austrian School: time matters, capital is heterogeneous, interest is not arbitrary, investment reflects human volition, production plans adapt to prevailing prices, and many more points that are completely lost on the flattened-out world generated by Keynesian mythology.
Roger Garrison has expanded on these expositions over the years but this monograph is the core presentation that has influenced so many.
The publication quality could have been better but I love Garrison's method. His "Time and Money" (along with Israel Kirzner's work) is the original reason I am a converted Keynesian. I have an MA in economics and was educated in the neo-classical/Keynesian mainstream. This book is perfect for someone with my background. The absence of any math makes it accessible for anyone with even an Econ 101 level understanding of the mainstream. He could have made it much more difficult but didn't. Great book!
If you want a hard copy of this (and you most certainly do), you might be better off downloading and printing a PDF of and donating $6 to the Mises institute. The words flow off the page... too literally; they get cut off at the edge. It's not a large publication anyway-- you won't have to spend much on ink and paper.
This is not reflective of what you can expect from other Mises Institute publications, which tend to be far higher quality.
I've read several books re. Austrian economics. This book is very brief but if you are not an economist it's unintelligible and unreadable.
Might be good if you are an upper level econ. major in college or economist. Was apparently written historically for that audience and not for general consumption.
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