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A Viennese Waltz Down Wall Street: Austrian Economics for Investors

Penned By Mark Skousen
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4.85
47,139 Global Ratings
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A Viennese Waltz Down Wall Street: Austrian Economics for Investors

Penned By Mark Skousen
4.85 47,139 Ratings
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Editor's Note:
The central message of the Austrian school of economics, writes Mark Skousen in this wide-ranging book, is that economics is about human beings. That outlook has direct implications for financial markets and personal investing. And this is why the Austrian school has had a huge impact Wall Street. A Viennese Waltz Down Wall Street, then, is a tutorial on both economics and investment that sheds new light on both fields. Consider the opening metaphor of the dance. This is the image that Skousen uses to illustrate the direction of prices in financial markets. It is not random but neither is it entirely scripted. There is a great deal of improvisation and uncertainty. But what makes it all work is that great institution of the mutual benefit of buying and selling. This is what makes markets dance. Economics and investing are the two fields that Skousen has followed closely during his long career. This book weaves the two together to show how you can use good economics to anticipate market turns. But just as importantly, it shows how you can use investing knowledge to understand economics. This is the unique contribution of the book. It takes big ideas in economic theory and illustrates them through real-world examples from financial experience. This approach has the merit of really driving home the point. What is the use of subjective value theory, marginal utility, business cycle theory, and the rest? Skousen presents applications at every step, even while covering the history of ideas. He also assesses the records of modern Austrian economists on forecasting. Is it perfect? No, but it is better than most. He has some corrections, too, for "hard money" investment theory. In most economics texts, micro and macroeconomics are distinct. But in Skousen's book, they are beautifully integrated in theory and practice.

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Length N/A Pages
Language Eng
Imprint Laissez Faire Books
Released January 1, 2012
Identifier (ISBN) 18108572
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Mark Skousen
The Mind Behind the Work
Mark Skousen

Mark Skousen is the author of several novels. Originally from the East Coast, they now live in the Midwest with family. In addition to writing, Mark Skousen enjoys gardening, cooking, and reading way past bedtime. Their work often explores the complexities of everyday life and human relationships.

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Barbara Turner
Barbara Turner August 06, 2025
"A very strong entry. The protagonist was compelling, though some subplots felt slightly overshadowed. A solid 4 stars from me."
Joseph Hernandez
Joseph Hernandez July 25, 2024
"A very strong entry. The middle had a deliberate pace, but the climax was phenomenal. Quite impressive overall."
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Jacob Wilson
Jacob Wilson September 28, 2024
"A decent, if standard, experience. The tempo was somewhat languid, and I found my mind wandering. Not poor, simply average. Suitable if your reading queue is empty."
Lisa Ramirez
Lisa Ramirez November 05, 2024
"A highly sophisticated read. It held my rapt attention, even when certain twists were telegraphed. I would highly recommend this to discerning readers."
Stephanie Martinez
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"Absolutely brilliant. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. Worth every moment spent reading."
Mark Perez
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"A highly sophisticated read. It held my rapt attention, even when certain twists were telegraphed. I would highly recommend this to discerning readers."
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Donna Robinson May 21, 2025
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"Masterpiece from start to finish. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An effortless 5 stars."
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"Absolutely brilliant. The prose is exquisite. It’s accessible yet undeniably sophisticated. I will undoubtedly revisit this masterpiece."
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"Exceeded all my expectations. I adored how the story unfolded. It kept me captivated without sacrificing elegance. Worth every moment spent reading."
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"Masterpiece from start to finish. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. A true literary gem."
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"Masterpiece from start to finish. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. Worth every moment spent reading."
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Margaret Hernandez June 18, 2024
"Masterpiece from start to finish. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I am now a lifelong fan of this author."
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"Exceeded all my expectations. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I am now a lifelong fan of this author."
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"Exceeded all my expectations. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I am now a lifelong fan of this author."
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"Such a rich narrative. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An effortless 5 stars."
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"Honestly one of the most premium reading experiences lately. The prose is exquisite. It’s accessible yet undeniably sophisticated. I will undoubtedly revisit this masterpiece."
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"Such a rich narrative. The author orchestrated a breathtaking finale. Truly a work of art. An effortless 5 stars."
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"I was completely blown away. The prose is exquisite. It’s accessible yet undeniably sophisticated. I will undoubtedly revisit this masterpiece."
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Susan Garcia
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"Masterpiece from start to finish. I became deeply invested in the protagonist's journey. A masterclass in storytelling. An effortless 5 stars."
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"I was completely blown away. I adored how the story unfolded. It kept me captivated without sacrificing elegance. Worth every moment spent reading."
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"Masterpiece from start to finish. I became deeply invested in the protagonist's journey. A masterclass in storytelling. Worth every moment spent reading."
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"I was completely blown away. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I will undoubtedly revisit this masterpiece."
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