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Vienna and Chicago, Friends or Foes?: A Tale of Two Schools of Free Market Economics | 
 enlarge | Author: Mark Skousen
Publisher: Capital Press
Category: Book
List Price: $24.95
Buy New: $16.47
You Save: $8.48 (34%)
New (5) Used (3) from $14.00
Rating:  11 reviews
Sales Rank: 187996
Media: Paperback
Pages: 318
Number Of Items: 1
Shipping Weight (lbs): 1.1
Dimensions (in): 8.4 x 5.5 x 0.9
ISBN: 0895260298
Dewey Decimal Number: 330.157
EAN: 9780895260291
ASIN: 0895260298
Publication Date: July 2005
Availability: Usually ships in 10 to 12 days
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Product Description
In his new book, Vienna and Chicago, Friends or Foes? economist and author Mark Skousen debates the Austrian and Chicago schools of free-market economics, two schools in constant, heated disagreement in their theories of money, business cycle, government policy, and methodology.
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| Customer Reviews: Read 6 more reviews...
 Dynamite book long overdue in the free market library! November 13, 2005
Ken Schoolland (Honolulu, Hawaii)
12 out of 12 found this review helpful
Finally, there is a book to compare the agreements and disagreements of the Austrian and Chicago schools of economics. This will definitely be required reading for my university students in History of Economic Thought courses. I am especially thrilled to see such an evenhanded approach to so many issues, from causes of the Great Depression to types of monetary systems. Skousen is insightful, humorous, and always full of interesting tidbits that are available in no other source...because he knew so many of the players. His books are always user friendly and this is no exception. He also offers his views, but is ever respectful to all.
Very Informative December 28, 2005
Crosslands (Maryland USA)
9 out of 10 found this review helpful
This book by Mark Skousen is a very well written and readable description and comparison of the Vienna (Austrian) and Chicago schools of economics. Mr. Skousen succeeds in writing an objective guide the history, theory, and differences of the two schools of economics. He also brings to light many similarities. The book is a real education in economics.
And the book is so readable that I wish he had also discussed Keynesian economics into which I was educated as an economics student.
The book is an invaluable exposition.
 A great survey, A poor publication November 12, 2005
Michael A. Wolff (St. Louis, MO United States)
8 out of 11 found this review helpful
There is a frustrating, and ridiculous, amount and quality of typos in this book that renders it almost unacceptable. If you can get over that, this is an excellent survey of the similarities and differences between the Austrian School of Economics (Hayek, Rothbard, Mises) and the Chicago School Of Economics (Milton Friedman). Even for the neophyte who has an interest in liberty or economics (one invariably will lead to the other), this is an excellent place to start, with chapter-by-chapter biblographies to lead you to the next steps. Now, if only Skousen could find a decent publisher.
Great book March 22, 2006
David Lockwood (Canberra, ACT Australia)
8 out of 8 found this review helpful
This is one of the best economics books I have read. It provides a good overview of the ongoing debate on some of the most relevant and still unresolved issues confronting economists today. But, unlike many economists, Skousen avoids verbosity and jargon; he presents quite complex issues simply and clearly. I also greatly enjoyed one of his other books, 'The making of modern economics'. Together, these books have challenged my views on many issues, including the causes of the great depression, the role of government in the economy, and the merits of a gold standard. The contribution of the Chicago and Austrian schools was badly neglected by my university lecturers, and I found 'Vienna & Chicago' a thoroughly fascinating read.
Heady history of economics May 28, 2007
therosen (New York, NY United States)
7 out of 7 found this review helpful
This is a heady book - you really have to be interested in economic history and policy to dissect the finer points between the Austrian and Chicago schools of free market economics. Mark Skousen, a free market economist with strong sympathies to both camps (perhaps Austrian in the end?) writes of the history and differences between the two.
The book sides with the Chicago school on it's focus on empirical data, where the Austrians prefer theoretical and logical arguements. The Chicago school suggests business cycles are purely a function of money, while the Austrian school gets solid marks for it's explanations of the temporal (capital overinvestment over time) natures of business cycles.
The book is balanced enough that one can learn and make the most out of both schools. It's rooted in both the history of the ideas, as well as how they've fared over time. It also covers how the ideas have changed over time. (Chicago was initially anti-concentration of industry, but changed over time, as the data suggested industry concentration rarely created true pricing power.) Take the book with a warning though - it's not an introductory textbook, and not aimed at the uninitiated. But for those interested in various approaches to free market economics (it's not a monolith) it's an outstanding resource.
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