I have been all over the place in relation to books, article, and audio files on this site; however, I’d like to try a stepping stone approach. I want to redo the basics (including economic/financial terminology) with organization in mind.
Economy, society and history
Thank you, but I could still use some recommendations. Anything remotely necessary that is required to understand AE would be very much appreciated. Just imagine I’m eight, and I don’t understand one bit of economic/financial terminology.
Should I check out Economics 101 by Murray Rothbard?
Fundamental methods of mathematical economics by Alpha C. Chiang
To be bit more explicit, I also wish to review the contrasts, comparisons, and explanations of economic terminology. What I’m refering to specifically in this case would Communism, Capitalism, Socialism, Corporatism, Mercantilism, Protectionism, Feudalism etc…
I witnessed some of these terms dropped by a commentator in one of mr.1001night’s, and this was the response from a nameless commentator:
“Capitalism is a mode of production. It can exist in the forms you mentioned, or in what I imagine is your preferred form (nominally stateless). It depends on private ownership of the means of production. The force that upholds the necessary property relation is irrelevant. It can be a public state that’s marginally open to public influence, or a private state (which the allegedly stateless form actually is) without public influence.”
I understand people like this stretch, oversimplify, or conflate such term like Capitalism to make their case, but I end up getting lost in the of war semantics.
I think before getting lost in the maze of definitions, it’s good to start from the basics and build up from there. Even though Man, Economy and State and Human Action seem like intimidating tomes, they are well worth it, and you will develop an unparalleled systematic understanding of most of the things you desired to know.
Aside from those 2, I think Faustino Ballve’s Essentials of Economics is probably the best introductory book, and for free in the literature section of mises.org
Capitalism is not simply a “mode of production”, it is the framework of a market society based on private property rights and noncoercion, allowing for an unparalleled means of industrial organisation to produce and improve the lives of its participants.