I recently finished
reading another history of the Austrian school. History of economic thought is slowly turning into my favorite area of economics- monetary policy is still #1. For me, history of economic thought combines two fascinating disciplines (I’ll let you guess which two).
The Austrian School of Economics: A History of Its Ideas, Ambassadors, and Institutions by Eugen Maria Schulak and Herbert Unterkofler is an enjoyable read that is never enthralling. It captures the essence of the Austrian school, but gets bogged down in details. I did not want it for research purposes, so I do not need a short explanation of all of Menger‘s important students, beyond Bohm-Bawerk. Also, since it is translated from German, all titles to books, articles, and organizations are in German and then translated. It is small, but bothered me.
On the positive side, it covers the basic outline of the school which every economist should know. Who were the major players? Menger, Bohm-Bawerk, Hayek, Mises, Schumpter, and a few more. What are the major ideas? Subjective marginal utility, praxeology, and business cycle theory are all cover. It is clear and concise here.