Rev Austrian Econ (2007) 20:209–211 DOI 10.1007/s11138-007-0012-6 BOOK REVIEW David Prychitko, Markets, Planning and Democracy: Essays after the collapse of communism. Cheltenham, UK: Edward Elgar, 2002, Bibliography and index. pp 190. Gus diZerega Published online: 7 April 2007 Springer Science + Business Media, LLC 2007 David Prychitko’s Markets, Planning and Democracy marks a significant step forward in developing Austrian theory. Based on Mises’ argument that only markets enable economic calculation to encompass the complexity of modern society and Hayek’s insight that the “knowledge problem” is the central issue in understanding societies, the Austrian approach raises different questions than neoclassical theory. Prychitko’s work elaborates some implications of this difference and, along the way, offers strong criticisms of neoclassical approaches to similar issues. The volume collects essays published over a 12-year period, many slightly modified for this volume. Given that some deal with policy challenges important in a time now past, such as Yugoslavia’s struggle with immediate postcommunist realities, they might seem dated. I disagree. The test of good analysis is how well it comprehends the complexities of actual political and economic events, and the passage of time offers a decisive check. Prychitko passes with flying colors. The book is divided
The Review of Austrian Economics – Springer Journals
Published: Apr 7, 2007
It’s your single place to instantly
discover and read the research
that matters to you.
Enjoy affordable access to
over 18 million articles from more than
15,000 peer-reviewed journals.
All for just $49/month
Query the DeepDyve database, plus search all of PubMed and Google Scholar seamlessly
Save any article or search result from DeepDyve, PubMed, and Google Scholar... all in one place.
Get unlimited, online access to over 18 million full-text articles from more than 15,000 scientific journals.
Read from thousands of the leading scholarly journals from SpringerNature, Elsevier, Wiley-Blackwell, Oxford University Press and more.
All the latest content is available, no embargo periods.
“Hi guys, I cannot tell you how much I love this resource. Incredible. I really believe you've hit the nail on the head with this site in regards to solving the research-purchase issue.”Daniel C.
“Whoa! It’s like Spotify but for academic articles.”@Phil_Robichaud
“I must say, @deepdyve is a fabulous solution to the independent researcher's problem of #access to #information.”@deepthiw
“My last article couldn't be possible without the platform @deepdyve that makes journal papers cheaper.”@JoseServera