Comments on: 14: “A Treatise for A New Age in Economic Theory: A Review of George Reisman’s Capitalism”

By: Freedom School

Freedom School — Tue, 12 Jan 2010 17:09:15 +0000

Yes, we were so impressed with Capitalism that we now use it as a text for our Certificate in Economic Studies program.

By: John Robinson

John Robinson — Fri, 20 Mar 2009 01:36:10 +0000

One interesting idea I found while doing some research on Inflation in this book was about government debt. It concerned repricing older debt upwards, to adjust the amount owed for inflation. Reisman’s idea was pointed towards showing government’s debt unaffected by inflation.

It thought it would be interesting to see how much of private savings have been taken, stored, and spent by the government.

By: Juan Fernando Carpio

Juan Fernando Carpio — Fri, 20 Mar 2009 00:49:24 +0000

We should all be thankful to Stephan Kinsella for “Libertarian Papers”, providing a new way to further debate and exploration of the ideas of liberty. I have to agree with the previous comments of course, prof. Reisman’s epochal contributions are still to be discovered and disseminated in the classrooms around the globe. It is our moral duty to spread just and true ideas, if we want civilization to survive and flourish.

By: Wladimir Kraus

Wladimir Kraus — Wed, 18 Feb 2009 13:05:31 +0000

Thanks, Mark! I really appreciate your praise! The only task which is left now is to bring his ideas to academic and popular audience, make his ideas known. Particularly important is to make Austrians economists more aware of Prof. Reisman’s work. They, more than anyone else, need his profound contributions to buttress the case for laissez-faire capitalism.

By: Mark Humphrey

Mark Humphrey — Wed, 18 Feb 2009 03:59:02 +0000

Profound thanks to Wladimir Kraus for his brilliant review of George Reisman’s monumental and fascinating study of economics.

As Mr. Kraus explains, “Capitalism” is extraordinary, because it provides the most powerful and sweeping integration of ideas, together with brilliant and original contributions to economics. Dr. Reisman’s treatment of his subject is thorough, precise, and logically overwhelming.

Thanks to Stephan Kinsella for “Libertarian Papers”, and for publishing this outstanding review.

By: John A. Rolstead

John A. Rolstead — Sun, 15 Feb 2009 21:41:33 +0000

I found his explination of marginal cost and how the lowest cost producer sets the price for the industry, not to his cost plus interest on capital, but somewhere near his competitors costs to be very enlightening. As it relates to the sale of gasoline, how each gas station tends to have the same price, it makes sense now, they must sell at the going price or fail to sell.

The other great point that Reisman makes is that we want the price of an item to be high enough that we can obtain the item. So again if gas is priced too low, then it will lead to shortages. It is to my advantage that the seller maintains a price high enough to ensure availablity for my purchase!

Before I started my study of economics, I was swayed by the populist view of Bill O’Reilly. Reisman’s book is big and cannot be consumed quickly, but it is very easy to understand and has exhustive examples. It is a truely wonderful defence of Capitalism!

John Rolstead

By: Andy

Andy — Thu, 12 Feb 2009 17:56:01 +0000

I find Reisman’s work to be quite interesting. He has put “meat on the bones” of some Austrian explanations that I didn’t find fully satisfying before. His discussion of the origination of interest on the market is a true contribution to economic thought.

By: Per-Olof Samuelsson

Per-Olof Samuelsson — Thu, 12 Feb 2009 16:25:24 +0000

Thanks for this review. Yes, it is really about time that Reisman’s treatise gets the recognition it so amply deserves. And you managed to pick some of his most important contributions, too!

By: Wladimir Kraus

Wladimir Kraus — Wed, 11 Feb 2009 19:38:59 +0000

Les,

Peter Bach is correct, there is a study guide for download and purchase, http://www.capitalism.net/GRProgram%20Guide.htm

By: Geoffrey S.

Geoffrey S. — Wed, 11 Feb 2009 18:49:14 +0000

I would buy and read Capitalism if it was around $50 cheaper. I bought Human Action; Man, Economy, and State; and Money, Bank Credit, and Economic Cycles for close to the price of Capitalism.