In this easily accessible, user-friendly volume, respected economist David R. Henderson brings together 152 of the most brilliant minds in economics to show how the analysis of economic topics can illuminate many aspects of the average person’s daily life. The more than 160 entries cover numerous topics including basic concepts, discrimination and labor issues, corporations and financial markets, issues in economic history, economics of legal issues, regulation, environmental regulation, taxes, economic policy, macroeconomics, money and banking, international economics, economics outside the United States, economic systems, schools of economic thought, and more.
Contra Keynes and Cambridge is composed of three parts: Part I consists of two essays, the first being a recollection by Hayek of his time at the London School of Economics in the 1930s, followed by his contribution to an early debate about the paradox of saving; Part II reprints the full debates between Hayek and Keynes in Economica in the early 1930s, and Hayek’s exchanges with Sraffa that followed; Part III includes some of Hayek’s reminiscences on Keynes. F. A. Hayek challenged one of the world’s leading economists, John Maynard Keynes, and his economic theories, which sparked a spirited debate that has influenced economic policy in democratic countries for decades.
This volume offers an engaging portrait of Smith through more than four hundred letters; also included are appendixes with Smith’s thoughts on the “Contest with America” and a collection of letters from Jeremy Bentham.
While relatively short, Cost and Choice, according to Hartmut Kliemt in the foreword, “holds quite a central place in Buchanan’s work. For the fundamental economic notion of ‘cost’, or ‘opportunity cost’, is intimately related to the individualist and subjectivist perspective that is so essential to the Buchanan enterprise.”
While this volume presents the important writings of James M. Buchanan on taxation and debt, Geoffrey Brennan makes it clear in the foreword that the thrust of Buchanan’s work in this area has been to integrate theories of taxation and debt with public-expenditure theory. Therefore, the editors strongly urge that the present volume on taxation and debt be read in tandem with the subsequent Volume 15, Externalities and Public Expenditure Theory.
Democracy in Deficit is one of the early comprehensive attempts to apply the basic principles of public-choice analysis to macroeconomic theory and policy.
Discovery, Capitalism, and Distributive Justice makes Kirzner’s case for the idea that entrepreneurial profit is both essential for an economy and profoundly just. Asserting that the problem with standard criticism of capitalist income distribution is a failure to see capitalism as a “discovery procedure,” Kirzner argues that production and subsequent profit are neither automatic nor guaranteed.
In the sixteenth and early seventeenth centuries, clerics gave lectures at the University of Salamanca on such topics as the varying purchasing power of money, the morality of money, and how price is determined. While she was teaching at the London School of Economics, Marjorie Grice-Hutchinson was urged to investigate early records of these lectures. Her study of the manuscript notes of these then-obscure lectures led to her interest in the development of economic ideas in early Spain and their subsequent influence on the rest of Western Europe.
Dr. Hoff’s 1938 book and Professor Vaughn’s important introduction establish the theoretical impossibility of socialism: a system empirically in ruins but still advocated by many.
Economic Freedom and Interventionism is both a primer of the fundamental thought of Ludwig von Mises and an anthology of the writings of perhaps the best-known exponent of what is now known as the Austrian school of economics. This volume contains forty-seven articles edited by Mises scholar Bettina Bien Greaves. Among them are Mises’s expositions of the role of government, his discussion of inequality of wealth, inflation, socialism, welfare, and economic education, as well as his exploration of the “deeper” significance of economics as it affects seemingly noneconomic relations between human beings. These papers are valuable reading for students of economic freedom and the science of human action.
Economic Inquiry and Its Logic presents a collection of Buchanan’s most representative works in economic method and analysis. As Robert D. Tollison points out in his foreword, “[Included] in this volume are some of [Buchanan’s] most often cited works on methodology, including papers reflecting his emphasis on the subjective nature of opportunity costs and the implications of this subjectivity for economic analysis.”