Rating: 
Summary: Possibly the best economics book ever written
Review: Ever thought economics was dry, boring, and incomprehensible? Wonder why economic pundits can never agree on anything? Puzzled as to why the economy goes through periodic booms and busts, and nothing the government does seems to prevent it? Read this book and you will get definitive answers (and some controversial ones), grounded on facts, logic, and common sense.Starting with a few easily understandable and self-evident principles governing human action, Rothbard leads the reader step by logical step into a deep and comprehensive understanding of all the key areas of economic thought - supply and demand, price, economising between scarce resources, savings and investment, money, time preference and the rate of interest, monopolies, cartels and unions, market "failures", and the issues surrounding government intervention in the market (phew!). The beauty of this is that at no point does the subject matter become obtuse or incomprehensible - any reasonably informed and intelligent layman can follow the train of thought from beginning to end. In complete contrast to the dry professorial meanderings of almost all economics textbooks, Rothbard's lucidity of thought and infectious enthusiasm for his subject matter practically bursts off the page. Almost every sentence is concise, clear, and directly to the point. Complicated subjects are explained in clear English, and often seasoned with wry humour or a jab of razor sharp wit. What a breath of fresh air, and a pure pleasure to read! Of course, as a follower of the Austrian school of economics, Rothbard is vehemently anti-state, and makes no attempt to hide the fact. "Right-wingers", and even people who consider themselves staunch libertarians, may find themselves shocked at exactly how far Rothbard takes his train of thought. And Keynesians would be advised to pour themselves a stiff brandy before sitting down to read - this man takes no prisoners! However, regardless of your political beliefs, I believe this to be essential reading. If you are an advocate of liberty and free markets, you will find yourself inspired by this impassioned and erudite defence of everything you hold dear. If you are a hardcore statist, liberal, egalitarian or Keynesian, then you will find your beliefs challenged and shocked to the core. Either way, you cannot fail to increase your understanding of the economic and political world, or be anything other than impressed at the towering intellectual achievement that this work represents (think of it as the free market version of Keynes' "General Theory"). If you are a layman, then you will finish the book with the realisation that this whole economics business can actually make sense after all (make sure to read Keynes, Friedman, and Samuelson to get the opposing mainstream views). "Man, Economy, and State" was one of the 20th century's first attempts (Hazlitt possibly excepted) to take economics out of the ivory towers and put it back into the field of intelligent mainstream debate. Rothbard has built on the great achievements of Ricardo, Bastiat, and especially von Mises, and produced something at least as important, if not greater. Of course, being a fiery indictment of practically every mainstream school of economic (and political) thought, it was practically ignored by academia, and it is only through the passage of time that its reputation has spread, mainly by word of mouth. I will admit to being heavily biased in favour of this book. My profession involves unfettered capitalism in the financial markets. My political beliefs are (mostly) libertarian. I consider Rothbard to have successfully engaged in a complete and utter demolition of Keynesian economic theory, and at least 90% of all cases of state intervention in the free market. But none of that matters - just as I read Keynes and Kaldor, and even ( shock horror) Marx, Chomsky and Pilger to understand the main opposition to my views, so others should do the same. You cannot coherently hold strong views without understanding the main criticisms against them. Buy this book, and you will come away much wiser. At the very least, no one will be able to say that you "simply don't understand" economics. You might even have a few laughs along the way!
Rating:
Summary: A Masterpiece
Review: Every sentence in this book is an eye opener....
Rating:
Summary: A masterpiece
Review: If you want a systematic and sound grouding in economics, this is the book to read. Rothbard's treatise is a delight, an amazing intellectual achievement, and yet more than accessible to the intelligent layman. My degrees are in history, not economics, yet I read this book all the way through twice and got a tremendous amount out of it each time. Note well: if you're interested in a more lighthearted overview of free-market economics, you might consider some of Rothbard's other work: Making Economic Sense, What Has Government Done to Our Money, and the like. But to see a true genius at work, who begins with the simplest aspects of exchange and builds systematically to complex issues of money, banking, monopoly, and much more, the serious student needs this book.
Rating:
Summary: A masterpiece
Review: If you want a systematic and sound grouding in economics, this is the book to read. Rothbard's treatise is a delight, an amazing intellectual achievement, and yet more than accessible to the intelligent layman. My degrees are in history, not economics, yet I read this book all the way through twice and got a tremendous amount out of it each time. Note well: if you're interested in a more lighthearted overview of free-market economics, you might consider some of Rothbard's other work: Making Economic Sense, What Has Government Done to Our Money, and the like. But to see a true genius at work, who begins with the simplest aspects of exchange and builds systematically to complex issues of money, banking, monopoly, and much more, the serious student needs this book.
Rating:
Summary: A Masterpiece
Review: If you're at all interested in Austrian economics, Rothbard's _magnum opus_ is an essential reference. The whole of Austrian methodology and economic thought is contained in this massive text. Whether you're teaching yourself the basics of Econ, or just want to experience some of the most controversial, cutting-edge thought in the financial sciences, Man, Economy and State is one to watch out for. PRO:
+ Assumes nothing; teaches you economics from the ground up.
+ Thorough and detailed. + If you find an edition with the rare last chapter, "The Economics of Violent Intervention in the Market," the book is worth its weight in gold: it's a political treatise AND economics compendium in one. CON:
- A bit on the dry side; Rothbard's vocabulary and syntax tend towards the dense.
- Don't expect a lot of graphs. Get used to it: Austrians don't like graphs.
- Threateningly heavy.
Rating: 
Summary: An Encyclopedia of Economics
Review: If you're at all interested in Austrian economics, Rothbard's _magnum opus_ is an essential reference. The whole of Austrian methodology and economic thought is contained in this massive text. Whether you're teaching yourself the basics of Econ, or just want to experience some of the most controversial, cutting-edge thought in the financial sciences, Man, Economy and State is one to watch out for. PRO:
+ Assumes nothing; teaches you economics from the ground up.
+ Thorough and detailed. + If you find an edition with the rare last chapter, "The Economics of Violent Intervention in the Market," the book is worth its weight in gold: it's a political treatise AND economics compendium in one. CON:
- A bit on the dry side; Rothbard's vocabulary and syntax tend towards the dense.
- Don't expect a lot of graphs. Get used to it: Austrians don't like graphs.
- Threateningly heavy.
Rating:
Summary: A refreshing antidote to mainstream Micro and Macro
Review: Man, Economy and State is more than a refined rehashing of Mises' Human Action. It includes thorough analyses of many topics Mises did not tackle, or did not tackle so well. Most notably, Rothbard exposes the logical absurdities embedded in Keynesian and monetarist theories. I found the work both more satisfying and more intellectually invigorating than I expected. Rothbard's clear, deductive prose, aided with just a touch of humor and sarcasm, makes for some wonderful reading. I know I will read this one many, many times before I feel I have really absorbed everything this book has to offer. I especially urge educated laymen and students of economics to give this book a good reading before mindlessly accepting the trendy mathematical scribbling that has become the code language of ivy-league economists. Purposive, motivated individual ACTION is the ultimate cause of all economic phenomena. Therefore, economics must be described in terms of cause and effect relationships originating in the attempts of individuals to employ scarce means to satisfy unlimited wants. Economics, when described through functional equations, can never contain any meaningful insights that could not be expressed more precisely through verbal logic, as functional relationships lack information on causality. In the social sciences they are likely to be the source of false deduction and inference. The result is a hopelessly confused pseudo-science that ignores most of what makes economics useful. Because Rothbard understands this from the get-go, he is able to give us 900 pages of meaningful logic. Thank you, Murray Rothbard!
Rating:
Summary: Brilliant
Review: Murray Rothbard was one of the most prolific writers in the libertarian tradition in the 20th century. His published work covered political theory, social theory, history, and economics. I've read most of Rothbard's books and consider Man, Economy, and State to be his greatest achievement. As an introductory matter, Rothbard studied under Ludwig von Mises, this century's premier Austrian economist. Man, Economy, and State is a basic treatise on economics, drawing on the insights of the Austrian school. It starts with the fundamentals of human action, and then goes on to discuss prices, production, monopoly theory, money, and other matters. This work is lengthy and some parts are quite theoretical, but that shouldn't stop even the tyro in economics from reading it. Rothbard starts with "Crusoe economics," that is with the individual actor. From this, he introduces the reader to the basics of economic reasoning. Only after this foundation is constructed does Rothbard discuss more complex issues. If you want to learn to "think like an economist" this book is a great place to start. I'm no economist -- and some of this work was a little beyond me (although I like to think I could have mastered it if I had enough free time) -- but even those chapters that are the most theoretical contain numerous insights into more "practical" matters. Unlike von Mises and most other Austrians, Rothbard was an anarchist. His opposition to government led to some unusual positions. For example, he viewed patents as contrary to the free market. [p. 652-60.] He also taught that blackmail would be legal in a free society. [p. 443 n. 49.] I'm not sure I agree with these conclusions, but they are always presented in a thought-provoking manner.
Rating:
Summary: Brilliant
Review: Murray Rothbard was one of the most prolific writers in the libertarian tradition in the 20th century. His published work covered political theory, social theory, history, and economics. I've read most of Rothbard's books and consider Man, Economy, and State to be his greatest achievement. As an introductory matter, Rothbard studied under Ludwig von Mises, this century's premier Austrian economist. Man, Economy, and State is a basic treatise on economics, drawing on the insights of the Austrian school. It starts with the fundamentals of human action, and then goes on to discuss prices, production, monopoly theory, money, and other matters. This work is lengthy and some parts are quite theoretical, but that shouldn't stop even the tyro in economics from reading it. Rothbard starts with "Crusoe economics," that is with the individual actor. From this, he introduces the reader to the basics of economic reasoning. Only after this foundation is constructed does Rothbard discuss more complex issues. If you want to learn to "think like an economist" this book is a great place to start. I'm no economist -- and some of this work was a little beyond me (although I like to think I could have mastered it if I had enough free time) -- but even those chapters that are the most theoretical contain numerous insights into more "practical" matters. Unlike von Mises and most other Austrians, Rothbard was an anarchist. His opposition to government led to some unusual positions. For example, he viewed patents as contrary to the free market. [p. 652-60.] He also taught that blackmail would be legal in a free society. [p. 443 n. 49.] I'm not sure I agree with these conclusions, but they are always presented in a thought-provoking manner.
Rating:
Summary: Brilliant
Review: Others here have done a great job of reviewing this book, so I won't say much.
I have to give it 5 stars.
I'll just say that a lot of people don't realize how critical a proper understanding of economics is to understanding many political issues. Taxes, minimum wage laws, unions, monetary policy, welfare, subsidies, protectionism, the list goes on. Yet most people do not know square one about economics, which is a shame. If you want to know, this book will teach you in a clear, understandable way.
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