Mark Skousen: Austrian Economics for Investors
Trader's Library #91 · Money, macro and economics. Austrian economics served up for investors.
Author: Mark Skousen · Original: incl. Vienna and Chicago; The Structure of Production; Wall Street Wisdom; The Making of Modern Economics · Year: 1990 · Usefulness for traders: ★★★☆☆
What it's about
Several of Skousen's books: his works applying Austrian economics to investing (including “Vienna and Chicago”), “The Structure of Production” (a model of the economy by stages of production), “Wall Street Wisdom” (a collection of maxims), “The Making of Modern Economics” (a history of economic thought), “Economic Logic” and “Investing in One Lesson”.
What it gives a trader
Skousen tries to connect business-cycle theory with investing practice: how interest-rate policy and credit affect bull and bear markets. “Wall Street Wisdom” is light reading full of speculators' maxims.
Lessons for traders
- cheap credit fuels a boom whose end can be painful
- different stages of the economy react to rates in different ways
- macro theory provides background, not signals
What to watch out for
The Austrian school is one of many perspectives, not the only truth about the economy.
Discussion
The discussion takes place in Hetman Capital Club (in Polish). Join the discussion in the Club →
Navigation
← #090 When Money Dies (Adam Fergusson) · Library index · #092 Energy and Commodities: Yergin and Pitron →
Educational content, not investment advice. The book description is my own summary and assessment, not quotations. Edition details were checked in catalogues and bookshops, and where there was doubt I said so plainly.