Liberalism against Liberalism: Theoretical

Defense of the market and economic freedom has been one of the main objectives of libertarian thinkers. Economists of the stature of Milton Friedman and Gary Becker from the Chicago school of economics and F. A. Hayek and Ludwig Von Mises from the Austrian school of thought are united in this standpoint. Ideas from both of these traditions are often used interchangeably but Liberalism against Liberalism debunks the tendency. With special emphasis on the work of Mises and Becker, Javier Aranzadi illuminates the theoretical and methodological differences between the two schools. The book will have wider appeal to all students and researchers of the history of economic thought.

Javier Aranzadi is Associate Professor of Economics at Universidad Autonoma de Madrid, Spain.

Preface and acknowledgments	p. xii
Two economic approaches to human behaviour in liberalism	p. 1
The object of economic study	p. 1
The scope of Economics	p. 3
The characterization of economic behaviour	p. 9
The economic approach of Mises: Praxeology	p. 18
The definition of economic behaviour in the work of Mises	p. 19
The structure of work of Mises	p. 19
Development of the subjective theory of value	p. 21
The Misian theoretical system	p. 27
The Misian methodology	p. 34
The structure of the general theory of action of Mises	p. 42
Economic act and economic action	p. 42
The axiom of action	p. 49
The action and the socio-cultural framework	p. 56
The praxeological categories: causality and time	p. 66
The discovery of means and the creation of possibilities	p. 77
Introduction	p. 77
Kirzner's pure entrepreneurship	p. 82
Development of the concept of pure entrepreneurship	p. 88
The scope of pure entrepreneurship in Kirzner's work	p. 95
The entrepreneurial function and the socio-cultural framework of individual action	p. 109
The market as a social institution	p. 132
The evaluative system	p. 142
The praxeological relation between Ethics and the market	p. 143
Private property in praxeology	p. 161
Causality as a praxeological category	p. 169
Causality in the work of Mises	p. 169
The Misian basis of causality	p. 174
The Misian determination of the cause	p. 180
The project	p. 188
The constituents of the project	p. 190
The temporal structure of the project	p. 194
The structure of the information in the project	p. 200
The execution of the project	p. 208
The economic approach of Becker: The generalization of homo economicus	p. 220
The definition of economic behaviour in the work of Becker	p. 221
Introduction	p. 221
The extension of the theory of utility	p. 223
Becker's theoretical model	p. 253
Critical analysis of Becker's definition of economic behaviour: stability of preferences	p. 264
The relation between Becker and Friedman	p. 267
Critical analysis of the theoretical approach of Becker to human behaviour	p. 278
Critical analysis of Becker's definition of economic behaviour: maximizing behaviour and market equilibrium	p. 300
The Beckerian explanation of prices	p. 303
Critical analysis of the Beckerian theory of prices	p. 311
The Austrian explanation of prices	p. 320
Conclusions	p. 343
Theoretical differences	p. 343
Methodological differences	p. 361
Notes
References	p. 367
Index
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Liberalism against Liberalism: Theoretical Analysis of the Works of Ludwig von Mises and Gary Becker

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