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Edmon Low Library

Per Bylund

Author of "How to Think about the Economy: A Primer" and "A Modern Guide to Austrian Economics"

February 6, 2023

Per Bylund, Ph.D., is Associate Professor and Johnny D. Pope Chair in the School of Entrepreneurship at Oklahoma State University. Bylund is associate editor of the Journal of Entrepreneurship and Public Policy and the Quarterly Journal of Austrian Economics as well as senior fellow of the Mises Institute and associate fellow of the Ratio Institute in Sweden. He has held faculty positions in Hankamer School of Business at Baylor University and Trulaske College of Business at the University of Missouri. His research studies the market process of prosperity-creation and economic development focusing on entrepreneurship and institutions. In other words, his research program is an inquiry into the nature and causes of the wealth of nations. He has published widely in top journals in entrepreneurship and management. Bylund has authored several books and writes a regular column for

"How to Think about the Economy: A Primer" was written to accomplish something big: economic literacy. It is intentionally kept very short to be inviting rather than intimidating, as economics books typically are. Bylund said, "If I managed to meet this bar, you, the reader, will gain life-changing understanding of how the economy works in practically no time. This is lots of value at a very low cost. If I have managed to exceed expectations, this book will also make you excited about what economics has to offer. Because economic literacy is mind-opening. Sound economic reasoning is an enormously powerful tool for understanding both the economy and society. It uncovers what is going on under the surface and why things are the way they are. In fact, economic literacy is necessary to properly understand the world."

The "Modern Guide" explores central ideas, concepts, and themes in the Austrian school of economics, with a focus on how both the school and the overall theory have evolved over recent decades. Leading scholars offer their insights into potential directions of future research in the field, pointing toward contemporary debates and their potential conclusions, underdeveloped aspects and extensions of theory, and current applications of interest.

Spanning theories of entrepreneurship to the theory of the business cycle, from methodology to sociology, and from cryptocurrencies to culture, this clear and concise "Modern Guide" provides an expert curation of the topic. Chapters offer an overview of the present state of scholarship in the field, including discussions on praxeology, the function of entrepreneurship in the market process, spontaneous orders, the Austrian theory of money, and banking. Written in an accessible style, this will be an invigorating read for economics scholars looking for an alternative to mainstream approaches. It will also be useful for scholars and practitioners seeking an introduction to Austrian economics.


Last Updated: 8 March 2023