Book description
In the last hundred years or so, the neo-classical school has come to dominate microeconomic thinking. Economists concerned with competition have taken refuge in increasingly complex models which emphasize the end-state of competitive equilibrium. This paper presents, in non-technical terms, an 'Austrian' view of how a market economy works. The…
Why read it?
1 author picked How Markets Work as one of their favorite books. Why do they recommend it?
At New York University, I attended the Austrian Colloquium every week. I learned more about economics listening to Dr. Kirzner talk for 5 minutes than I did in any 2-hour class. Austrian economics is about human action – not unlike what you’ll find in The Economic Way of Thinking. The US stock market today seems to be drifting further and further away from Kirzner’s definition of a market: “Disequilibrium prices generate direct disappointment of plans… Such disappointment can be expected to alert entrepreneurs to the true temper of the market” and result in price discovery. Market makers and…
From Susanne's list on The best books on stock market plumbing.
If you love How Markets Work...
December on 5C4
Magical realism meets the magic of Christmas in this mix of Jewish, New Testament, and Santa stories–all reenacted in an urban psychiatric hospital!
On locked ward 5C4, Josh, a patient with many similarities to Jesus, is hospitalized concurrently with Nick, a patient with many similarities to Santa. The two argue…
Want books like How Markets Work?
Our community of 13,000+ authors has personally recommended 53 books like How Markets Work.
Share your top 3 reads of 2026!
And get a beautiful page showing off your 3 favorite reads.
172
readers submitted
so far, will you?
📚 If you like How Markets Work, you might also like...
Sexy Selfie Nation
The problem is not with the actions young women take but with the toxic, sexist conditions they are responding to.
Tanenbaum found, based on six years of interviews with young people ages 14-30, that young women are navigating a culture littered with gendered dress codes, revenge porn, and sexually explicit…
In This Together
In This Together explores how we can harness our social networks to make a real impact fighting the climate crisis. Against notions of the lone environmental crusader, Marianne E. Krasny shows us the power of "network climate action"—the idea that our own ordinary acts can influence and inspire those close…
