'The Oxford Handbook of Austrian Economics' provides an overview of the main methodological, analytical, and practical implications of the Austrian school of economics. This intellectual tradition in economics and political economy has a long history that dates back to Carl Menger in the late...

Most of the existing research on economic history relies either solely or ultimately on calculations of material interest to explain the major events of the modern world. However, care must be taken not to rely too heavily on materialism, with its associated confidence in perfectly rational...

Boettke and Butkevich argue that a vibrant society is an entrepreneurial society. Entrepreneur- ial effectiveness is a function of the free movement of economic actions – their alertness to opportunities for mutual gain, and their sense of when and where to enter and exit a market. Boettke and...

The paper distinguishes two types of entrepreneurial activity in terms of their institutionally relevant contexts. Type 1 (Kirznerian) entrepreneurship refers to catallactic activity in which coordinating mechanisms, operating via the exchange of property rights, generates market prices. We...

While markets are all around us, not all markets are the same. Markets come in a variety of colors based on the legality of activities in the specific market. As such, there is no market economy per se, but instead various shades of markets. The different shades of markets that are evidenced in...

Abstract 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...

Frontmatter -- THE POLITICAL ECONOMY OF THE AUSTRIAN SCHOOL Series -- Contents -- Acknowledgments -- 1. Introduction -- 1. Theory -- 2. Money and Capital in Economic Development -- 3. The Theory of Economic Development and the "European Miracle'' -- II. Case Studies of Planning -- 4. The...