The key to understanding economicsThe economic crisis that erupted in 2008 was not inevitable. Proponents of the Austrian School of economics have repeatedly demonstrated that a boom-and-bust cycle is unnatural and unnecessary.Unfortunately, few people have even a cursory understanding of Austrian economics-a problem economist Harry C. Veryser tackles in It Didn't Have to Be This Way. Veryser provides a clear and persuasive introduction to the Austrian School and its major figures, such as Ludwig von Mises and F. A. Hayek, and before them Carl Menger. He shows why the Austrian view-emphasising individual human action and markets free from government intrusion-offers the surest path back to peace and prosperity.Best introduction to poorly understood Austrian economics: Veryser brilliantly explains a vitally important school of economic thought that many people know nothing about. This book corrects misconceptions and makes a convincing case why the Austrian view offers the best approach to economics.Explains current economic crisis: Veryser shows how Austrian economics predicted exactly the kind of collapse that occurred in 2008, and why a boom-and-bust cycle is unnatural and unnecessary.
Harry C. Veryser is director of the graduate program in economics at the University of Detroit Mercy and the former chairman of Walsh College's Department of Economics and Finance. He is also a businessman who owned an automotive supply company for many years. Veryser lives near Detroit.