# Think Tank > Austrian Economics / Economic Theory >  Austrian Economics for Dummies???

## BuddyRey

Ok, I've had it.  I've seen at least fifty people on these forums mentioning such mystical and impenetrable institutions as fractional reserve banking, the business cycle, and booms and busts, none of which have any meaning I am even faintly aware of, and I can't take it anymore!

All I want is a simple, cheap (Mises' home study course costs 400 smackers) primer on the Austrian School that can chip away at these arcane and very intimidating bits of BA Econ terminology designed for the express purpose of making Joe Schmoes like myself shy away from the attainment of knowledge.

If there is yet to be a "For Dummies" volume on Austrian Economics, there should be, for nothing remains so enshrouded in confounding jargon and barely comprehensible theory as does the set of monetary and fiscal theorems upon which the economic understanding of the Ron Paul movement has been built.  I think we'd all appreciate knowing a little bit more, and would relish the opportunity to have the philosophy spoon-fed to us in small increments by anyone other than bow-tie-clad Ivy Leaguers who take for granted our prerequisite knowledge of what credit, capital, and interest rates really are.

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## muzzled dogg

one easy way is to "read" a bunch of these audio books

http://mises.org/media.aspx?action=category&ID=85

i listen to 'em all the time at work, multiple times, etc.

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## yongrel

mises.org is a fantastic resource.

If you want something to read though, the best place to start is "Economics in One Lesson" by Henry Hazlitt. It's a fantastic, short, and easy-to-understand summary of Austrian economics as they apply to the modern economy.

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## Fox McCloud

for information on the gold-standard and why we _have_ to have it to have long-term prosperity, I highly recommend Murray Rothbard's "What Has the Government Done to Our Money? And the Case for the 100% Gold Dollar".

For information on the Fed in general, and it's Conspiratorial origins, I recommend G. Edward Griffin's "The Creature from Jekyll Island: A Second Look at the Federal Reserve".

This won't give you a complete view of Austrian economics, but it shows how we got to where we are today and why we must go back to a classical gold-standard in addition to make fractional reserve banking completely illegal.

Other than that, the information the other two posters provided here is good.

I'm still learning, I admit, but fortunately I love this stuff and can't soak up enough of it quickly enough....and I'm very fortunate to have a very close friend who is an Austrian economist as well (an extreme rarity these days).

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## cien750hp

ive started reading "economics for real people" by gene callahan
it seems to lay it out pretty simply and relates everything to being on survivor, so it may keep your interest more.
http://mises.org/books/econforrealpeople.pdf

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## Bruno

Thanks for asking a question that helps others as well, BuddyRay.  I'd never heard of Austrian Economics until being introduced to Paul either.  
And thanks for the links and references above, everyone.
I'm starting on the audiobook of 'economics for real people' tomorrow.

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## LibertyEagle

> ive started reading "economics for real people" by gene callahan
> it seems to lay it out pretty simply and relates everything to being on survivor, so it may keep your interest more.
> http://mises.org/books/econforrealpeople.pdf


Good book.

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## LibertyCola

Economics in One Lesson is a great introduction.

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## Apparition

I just happened to start reading Economics in One Lesson last night... picked it up after reading RP's book and checked out a few of his recommendations on his reading list.

I'd say it's very informative so far.. pretty upfront and easy to understand.

Thanks to the links to the 'audiobooks'.. I'll be sure to check them out. =)

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## mport1

> one easy way is to "read" a bunch of these audio books
> 
> http://mises.org/media.aspx?action=category&ID=85
> 
> i listen to 'em all the time at work, multiple times, etc.


Me too.  I don't listen to music anymore.  Just put these on my ipod for work, working out, whatever.

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## mport1

> mises.org is a fantastic resource.
> 
> If you want something to read though, the best place to start is "Economics in One Lesson" by Henry Hazlitt. It's a fantastic, short, and easy-to-understand summary of Austrian economics as they apply to the modern economy.


I second this suggestion.  There is also an audio version - http://www.fee.org/library/media.asp?c=media

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## Paulitician

I think "Economics For Real People" could probably be called the "Austrian Economics For Dummies."  It's a great introduction to the apriori method of economics.  I read "Economics In One Lesson" first, but it seemed more like a collection of essays refuting many fallacies than an actual lesson on economics.

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## Kade

This is virtually equivalent to asking for "Sleep Aid for Narcoleptics".

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## ARealConservative

> This is virtually equivalent to asking for "Sleep Aid for Narcoleptics".


says the guy that hates absolutes.

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