Human Action

Human Action is the first comprehensive treatise on economics that explains how complex market phenomena develop. Not only does this book simply describe economic phenomena—prices, wages, interest rates, money, monopoly, and even the trade cycle, it also explains them as the outcomes of countless conscious, purposive actions, choices, and preferences of individuals, each of whom was trying as best as he or she could under the circumstances to attain various wants and ends and to avoid undesired consequences.