Peter J. Boettke

" This lively book illuminates how economics affects all walks of life, whether in the marketplace, voting booth, church, family, or any human activity. Boettke believes that economics is not merely a game to be played by clever professionals, but a discipline that touches on the most pressing practical issues at any historical juncture. The wealth and poverty of nations are at stake; the length and quality of life turns on the economic conditions individuals find themselves living with. So teaching and learning economics are high stakes ventures"--Book cover.

Yesterday, Today, and Tomorrow

Living Economics

Tyler Cowen

Richard Ebeling

Steven Horwitz

James M. Buchanan

David L. Prychitko

Jack High

Don Boudreaux

Matthew Kibbe

Israel Kirzner

Essays in Contemporary Austrian Economics

The Market Process

Gorbachev's reforms brought high hopes in the West and empty shelves in the East. Why Perestroika Failed argues that successful reform is only possible on the basis of a sound understanding of market and political processes. Using an Austrian market process approach to analyse the economics of the Soviet system, and a public choice one to sound understanding of market and political address the political dimension, Boettke argues that Gorbachev's reforms were always destined to fail. In part perestroika failed because it was never really implemented. But nonetheless, even if all the major proposals and decrees had been scrupulously adhered to, they would not have produced the structural changes necessary to revive the former Soviet economy. Knowing why perestroika failed is crucially important as the former Soviet republics and East and Central Europe try and chart a new course.

The Politics and Economics of Socialist Transformation

Why Perestroika Failed

Professor of Economics and Deputy Director of the James M Buchanan Center for Political Economy Peter J Boettke

This book presents a narrative of one of the more interesting utopian experiments in comparative political and economic history: the first decade of the Soviet experience with socialism (1918-1928). Though historical and textual analysis, the book’s goal is to render this experience intelligible, to get at the meaning of the Soviet experience with socialism for comparative political economy today. The book examines the texts of Lenin, Bukharin, and other revolutionaries, as well as the interpretations of contemporary historians of the revolution and the writings of more recent interpreters of Soviet political and economic history. Arguing that the first three years of the Bolshevik regime (1918-1921) constitute an attempt to carry out the Marxian ideal of comprehensive central planning, and that the disastrous results, which all commentators agree occurred, were the inevitable outcome of this Marxian ideal coming into conflict with the economic reality of the coordination problem that all economic systems face, the book draws clear conclusions and elucidates the air of mystery that often surrounds the subject. Offering a radical challenge to contemporary comparative political economy at the level of high theory, applied research, and public policy, this book is appropriate for students and scholars interested in Marxism, economic history, political economy, and Austrian economics.

The Political Economy of Soviet Socialism: the Formative Years, 1918-1928

Essays on Socialism and Transitional Political Economy (Foundations Fo the Market Economy)

Calculation and Coordination

For a New Liberalism

Handbook on contemporary Austrian economics

Paul T. Heyne

The text is designed primarily for a one semester survey course in general economics. It has also been successfully used in M.B.A. economics courses and in Master's courses in economic education.

The Economic Way of Thinking

This book explores the life and work of Austrian-British economist, political economist, and social philosopher, Friedrich Hayek. Set within a context of the recent financial crisis, alongside the renewed interest in Hayek and the Hayek-Keynes debate, the book introduces the main themes of Hayek’s thought. These include the division of knowledge, the importance of rules, the problems with planning and economic management, and the role of constitutional constraints in enabling the emergence of unplanned order in the market by limiting the perverse incentives and distortions in information often associated with political discretion. Key to understanding Hayek's development as a thinker is his emphasis on the knowledge problem that economic decision makers face and how alternative institutional arrangements either hinder or assist them in overcoming that epistemic dilemma. Hayek saw order emerging from individual action and responsibility under the appropriate institutional order that itself emerges from actors discovering new and better ways to coordinate their behavior. This book will be of interest to all those keen to gain a deeper understanding of this great 20th century thinker in economics.

Economics, Political Economy and Social Philosophy

F. A. Hayek

This major three-volume collection - offered in the centenary year of Hayek's birth - celebrates a lifetime of scholarship and original contributions that cross the disciplines of politics, philosophy and economics. Hayek rose to fame as a young technical economist engaged in debate with Keynes and became infamous in middle age for his harsh critique of socialist planning. For much of the 1950s and 1960s Hayek was ignored as a relic of 19th century economic liberalism as the tide of intellectual and political fashion moved against both his warnings about Keynesian demand management and his critique of socialist planning. Late in life, Hayek was celebrated as a prescient scholar who foresaw the decline in both the Keynesian and socialist systems of economic control. Hayek made major analytical contributions which have yet to be appreciated by either friend or foe. Through this selection of classic articles The Legacy of Friedrich von Hayek attempts to place Hayek's contributions to political economy in a proper perspective.

The Legacy of Friedrich Von Hayek

原书第13版

经济学的思维方式

Alexander William Salter

Daniel J. Smith

Contemporary monetary institutions are flawed at a foundational level. The reigning paradigm in monetary policy holds up constrained discretion as the preferred operating framework for central banks. But no matter how smart or well-intentioned are central bankers, discretionary policy contains information and incentive problems that make macroeconomic stability systematically unlikely. Furthermore, central bank discretion implicitly violates the basic jurisprudential norms of liberal democracy. Drawing on a wide body of scholarship, this volume presents a novel argument in favor of embedding monetary institutions into a rule of law framework. The authors argue for general, predictable rules to provide a sturdier foundation for economic growth and prosperity. A rule of law approach to monetary policy would remedy the flaws that resulted in misguided monetary responses to the 2007-8 financial crisis and the COVID-19 pandemic. Understanding the case for true monetary rules is the first step toward creating more stable monetary institutions.

Generality and Predictability in Monetary Institutions

Money and the Rule of Law

Wolfgang Kasper

Manfred E. Streit

This thoroughly revised, extended and updated edition of a critically acclaimed textbook provides an accessible and cohesive introduction to the burgeoning discipline of institutional economics. Requiring only a basic understanding of economics, this lucid and well-written text will be essential reading for undergraduate and postgraduate students wanting to understand the problems of the real world Ð such as entrepreneurship, innovation, the cost of the welfare state, international financial crises, and economic development. As institutional economics is now revolutionising policy making, the book can also serve as a guide to the pressing problems facing policy makers in mature and emergent countries alike. Key features include: ¥ A short ÔPrimerÕ at the beginning of each chapter to highlight the main issues and their relevance. ¥ Key Concepts such as ÔinstitutionsÕ, Ôeconomic orderÕ, Ôcoordination costsÕ, ÔcompetitionÕ and Ôpublic policyÕ are highlighted and clearly defined. ¥ International coverage is ensured as the three authors, experienced academic teachers, work in the US, Europe and the Asia Pacific.

Property, Competition, Policies

Institutional Economics

Vlad Tarko

Paul Dragos Aligica

A distinctive perspective on governance: the building blocks -- Classical liberalism : delineating its theory of governance -- Function, structure, and process at the private-public interface -- Dynamic governance : the polycentrism process and knowledge processes -- Public choice and public administration : the confluence -- Public administration and public choice : charting the field -- Public choice, public administration, and self-governance : the Ostromian confluence -- Heterogeneity, coproduction, and polycentric governance : the Ostroms' public choice institutionalism revisited -- Framing the applied level : themes, issue areas, and cases -- Metropolitan governance : polycentric solutions for complex problems -- Independent regulatory agencies and their reform : an exercise in institutional imagination -- Polycentric stakeholder analysis : corporate governance and corporate social responsibility -- Conclusions: governance and public management : a vindication of the classical-liberal perspective?

Political Economy Foundations

Public Governance and the Classical-Liberal Perspective

This set contains the material necessary for a full understanding of the Socialist Calculation debate, as well as giving critical insight into the relative merits of Capitalism, Socialism and the alternative Market Socialism.

The Socialist Calculation Debate Revisited

Socialism and the Market

A novel argument that shows how rules work better than discretion when implementing monetary policy.

Andrew Farrant

Greg Ransom

Gilberto O. Salgado

The three volumes on the economist/humanist, Friedrich von Hayek (1900-92) are divided into politics (v.1), philosophy (v.2), and economics (v.3), areas which Hayek attempted to interweave. The set begins with a general introduction in which Boettke maintains that Hayek is narrowly remembered for his opposition to socialism despite his Nobel Prize for economics (1974) and his scholarship in theoretical psychology, political philosophy, legal anthropology, the philosophy of science, and the history of ideas. Boettke describes Hayek this way: "... a technical economist, concerned with philosophical issues; a philosopher of mind, pursuing the implications of his conclusions on the nature of the mind for social scientific research; and a classical liberal political economist seeking to integrate the knowledge from technical economics and philosophy for the way we understand and study the political order of a free people." The introduction, ending with a chronology of Hayek's career, and a chronological list of his publications is followed by a total of 72 reprinted articles from the 1960s to the 1990s by scholars with only their professional association listed. Contributors include M. Polanyi, Carlo Zappia, Israel M. Kirzner, Mario Rizzo, John Gray, Jacob Viner, Richard Bellamy and numerous others. Annotation copyrighted by Book News, Inc., Portland, OR

Todd J. Zywicki

The original contributions to the Research Handbook provide an introduction to the application of Austrian economics to law. The book begins with chapters on the methodology of law and economics. Further chapters discuss key concepts in Austrian economics – dynamic competitive processes, spontaneous order, subjective value, entrepreneurship, and the limited nature of individual knowledge – as they relate to topics in evolutionary law (social rules, self-governance, dispute resolution) and basic law (torts, antitrust, civil procedure, business and family law).

Research Handbook on Austrian Law and Economics

Christopher J. Coyne

The Austrian School of Economics is an intellectual tradition in economics and political economy dating back to Carl Menger in the late-19th century. Menger stressed the subjective nature of value in the individual decision calculus. Individual choices are indeed made on the margin, but the evaluations of rank ordering of ends sought in the act of choice are subjective to individual chooser. For Menger, the economic calculus was about scarce means being deployed to pursue an individual's highest valued ends. The act of choice is guided by subjective assessments of the individual, and is open ended as the individual is constantly discovering what ends to pursue, and learning the most effective way to use the means available to satisfy those ends. This school of economic thinking spread outside of Austria to the rest of Europe and the United States in the early-20th century and continued to develop and gain followers, establishing itself as a major stream of heterodox economics. The Oxford Handbook of Austrian Economics provides an overview of this school and its theories. The various contributions discussed in this book all reflect a tension between the Austrian School's orthodox argumentative structure (rational choice and invisible hand) and its addressing of a heterodox problem situations (uncertainty, differential knowledge, ceaseless change). The Austrian economists from the founders to today seek to derive the invisible hand theorem from the rational choice postulate via institutional analysis in a persistent and consistent manner. Scholars and students working in the field of History of Economic Thought, those following heterodox approaches, and those both familiar with the Austrian School or looking to learn more will find much to learn in this comprehensive volume.

Peter J. Boettke

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