07 Summary


Summarizing this sections starts with the review of two of the items from The Story of Us summary:
  • humans act purposefully to obtain ends that trade their current situation for one that is considered better by the actor
  • co-operation among humans is a far more productive approach than conflict
The Austrian section details the implications of our purposeful action which includes presenting evidence to show that co-operation is the far better way to go regardless of whether the parties even like each other.

Scarcity is a prime mover and shaker for human action that touches almost every aspect of our existence.

Value has a deep connection with humanity and is not the 'lowest price tag'.

Division of labour is the clear logical framework that identifies all the benefits of co-operation among humans in an unhampered free market. At the present time, as a species, there really is no other idea that works as well.

Some of the ideas in this section are not exclusive to Austrian economics although the interpretation and/or perceived implication(s) are.

To see how we can get the best use of the Austrian ideas while at the same time lay the pathway for a just manner in which to solve our differences, protecting (private) property rights and all guided by the continued quest for liberty, we look at the ideas behind Libertarianism, the next stop on the tour.