Mainstream macroeconomic theory understands the economy as a phenomenon tractable by analysis adequately enough to be manageable by macroeconomic policy guided by this analysis. We explore why this epistemological approach of the economy has remained dominant in mainstream economics despite...

With the premature passing of Laurence Moss, the field of history of economic thought has lost one of its great practitioners and mentors. Larry was not only an outstanding scholar in the field in his own right, but in his capacity as an officer in HES and as an editor of the AJES, he was a...

In “The Soul of Classical Liberalism” (2000), James Buchanan argues that modern advocates of the liberal order must move beyond the mid-20th century project of “saving the books” and “saving the ideas” and instead embrace the challenge of “saving the soul” of liberalism. The...

During the interwar years in the first half of the twentieth century, Ludwig von Mises emerged as one of the leading economic thinkers in Continental Europe. Though a general economic theorist, Mises's main contributions early in his career were in the field of monetary theory, monetary policy,...

This paper contends that Mises' work, both in Nationalökonomie and Human Action, provides us with an integrated treatise on economics and social theory which has had a tremendous intellectual influence in the second half of the 20th century. Mises' treatise can be seen as responsible for three...

What explains the simultaneous critiques of economic theory and liberalism during the 1930s? Early neoclassical economists had a common understanding of the proper institutional context under-girding a liberal market order. From the marginal revolution emerged a growing emphasis on analyzing...

James Buchanan argued that Tullock was a “natural born” economist. In this paper, we explore the notion that Tullock, more appropriately, was a “natural born Misesian.” Characterizing Tullock as such, we ask the following question: was Gordon Tullock also an economic imperialist,...

This paper explores the intellectual context of the Department of Economics at the London School of Economics and Political Science (LSE) during the 1930s. we will be focusing on the contributions of F.A. Hayek, along with Lionel Robbins, in fostering an intellectual environment for the...

Throughout his career, James Buchanan displayed a remarkable consistency regarding the didactic role of the properly trained economist. As he would say, it takes varied iterations to force alien concepts upon reluctant minds. What he regarded as the role of the properly trained economist is just...

In terms of economic methodology, Friedman's most well-known contribution is his 1953 essay, “The Methodology of Positive Economics.” This important contribution has overshadowed his earlier contribution to economic methodology, entitled “Lerner on the Economics of Control” (1947)....