This paper suggests that there exists a neglected third branch of Chicago price theory, which includes Armen Alchian (1914-2013), James Buchanan (1919-2013), and Ronald Coase (1910-2013). While this branch shares characteristics that are common to the other branches of Chicago price theory,...

Hayek's The Road to Serfdom is often read as a policy book and a political tract for its time. It is also often read as little more than a “slippery slope” argument, leading inevitably down a road from a free society to the gulag. In this paper, we counter the claim that The Road to Serfdom...

This paper is an exercise in the archeology of knowledge that seeks to understand the intellectual precursors to the Workshop in Political Theory and Policy Analysis. This perspective reveals that the research agenda of the Ostroms draws significantly from the ideas and themes developed in the...

We argue that the future of Austrian political economy rests on the study of how institutional entrepreneurs discover and implement alternative institutional arrangements conducive to economic growth. This requires a dual level of analysis in spontaneous order studies. How such institutional...

This chapter argues that the ambiguous bifurcation in Frank Knight's understanding of economics would manifest itself through the divergent paths in the earlier writings of his students Milton Friedman and James Buchanan. It argues that despite Friedman's stature in the scientific elite of the...

The Austrian School of Economics has a long and storied history. Born in the context of fin de seicle Vienna, the historical and cultural context of the scientific contribution and the attitude and aptitudes of the different thinkers should not be forgotten even as the intellectual tradition...

The task of the economist, from an Austrian perspective, is twofold: (1) to render economic phenomena intelligible in terms of purposive human action, and (2) to trace out the unintended consequences, both desirable and undesirable, of human actions. When analyzing political exchange, the...

We respond to points made by Klein and Briggeman (2010), who criticize the use of definitive statements within the body of research by Israel Kirzner. We contend that Klein and Briggeman's critique fails to recognize the context of Kirzner's arguments within the broader tradition of neoclassical...

This pathbreaking book seeks to be the definitive collection documenting the intellectual legacy of Ludwig von Mises in modern political economy. Its intended readership is scholars in the history of political economy and in particular those interested in the Austrian school of economics.

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.