Written by Neodoxy for The Voluntaryist Reader.
This is an attempt to provide a simple, but extensive introduction to economics and market theory for anyone who is new to the subject or who is trying to better understand the Austrian approach to economics. I also hope that it will prove useful for anyone who could use a refreshing run through of market theory. I will use as little jargon as possible, since scholarly terms often do more to confuse non-economists than to educate them. Whenever I feel that I have to use jargon I will define the terms in question as simply and clearly as possible. Hopefully this article succeeds in explaining market theory in a straightforward and helpful way. I have arranged this article according to the general subjects it covers; I have also divided it into the more basic (the first post) and more advanced material (the second post) for the sake of space.
Read part 1 »
Read part 2 »