Richard Ebeling's insightful and highly readable book explains and applies the ideas of the Austrian ecomists to a wide range of contemporary public policy issues. He combines intellectual political-ecomic history with the modern Austrian theory of the market process to challenge the premises and uses of mainstream neoclassical ecomics. He shows the continuities between the positive contributions of the classical ecomists and the Austrian's in contrast to the neoclassical conceptions of man, the market ecomy and theory-formation for policy applications. Particular emphasis is given to the Austrian view of the human actor as creative invator and planner who changes his world to improve his circumstances in comparison to the neoclassical idea of man as a passive ecomizer within given constraints. The Austrian approach is applied to the problems of the regulated ecomy, socialist central planning, the welfare state, monetary policy, international trade, and the hundred-year conflict between classical liberalism and collectivism. Ecomists, historians of thought and policy analysts will find this collection of essays illuminating.