The New Subjectivist Revolution

This book reveals the surprising fact that Ludwig von Mises made seminal contributions to methodology, the concept of equilibrium, and macroeconomics that have not previously been recognized either in mainstream economics or by most of the Austrians. In addition, it goes beyond Mises and others in elucidating the microeconomic concepts of entrepreneurship, profit and loss, and the theory of the firm. Its method of building on a foundation of the reader's personal understanding of human action is a refreshing and inventive approach to communicating these crucial concepts in economic theory.