Human Action is the core text of the Austrian School and the most rigorous and extended defense of the free economy ever written. And the Human Action Study Guide, years in preparation, opens it up as never before.
Everyone knows of the difficulty of the book, which is matched only by its centrality to a thorough understanding of economic logic and the free society. Even Mises himself hoped for a guide to be written. Many people tried but didn't make it to the end or became frustrated with the sheer difficulty of the task. Only Murphy managed it, and he does it with great authority and attention to detail, even as it makes the book newly accessible.
Part of the genius here is the structure: summary, "Why It Matters," "Technical Notes," and "Study Questions." The writing is exactly what you would expect from Murphy. As with Man, Economy, and State, he has come to the rescue. It is crystal clear, very precise, and always interesting.
Students and professors will use this book constantly as a one-stop reference for the Austrian School. Here is a remarkable and singular accomplishment.
CONTENTS:
Part One: Human Action
Part Two: Action Within the Framework of Society
Part Three: Economic Calculation
Part Four: Catallactics or Economics of the Market Society
Part Five: Social Cooperation Without a Market
Part Six: The Hampered Market Economy
Author Robert Murphy explains the guide's structure: "The format of this study guide is straightforward. Each chapter starts with a summary that follows the numbered section headings and italicized subheadings as they appear in Mises's text. Then it provides an explanation of 'Why It Matters,' giving historical context and/or explaining the role that the chapter serves in the book. (One of the joys of writing this study guide was my discovery that there was a very systematic arrangement of the chapters and parts of the book, which I had not noticed during prior readings.)"