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.

This 2005 book traces the history of economic thought from its prehistory to the present day.

The book attempts to investigate the position of subjectivism in the economic theories in the past, and its relationship or rather confrontation with objective point of view in economics.

A clear and concise history of economic thought, developed from the author's award-winning book, The Wealth of Ideas.

“Subjectivism and Interpretative Methodology in Theory and Practice” uses the subjectivist approach originated in Max Weber’s interpretation method, Alfred Schutz’s phenomenology, and Peter Berger and Thomas Luckmann’s sociology of knowledge to understand economic and social phenomena. This method brings human agency back into the forefront of analysis, adding new insights not only in economics and management, but also in sociology, politics, psychology and organizational behavior.

This volume demonstrates how the Austrian challenge, and the debates it inspires, can continue to benefit contemporary developments in micro- and macroeconomic theory, and can offer insights into other schools of thought.