Economics

Our economics collection showcases classic works in the discipline. Many of our titles explore how economic reasoning applies to political science and other social sciences, as well as the relevance of economics as moral philosophy. A consistent theme is the view that economics is the study of human choice and its consequences, both intended and unintended.

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  • Competition, Economic Planning, and the Knowledge Problem

    by Israel M. Kirzner

    No other economist in recent times has been so closely identified with the Austrian School of economics as Israel M. Kirzner, professor emeritus of economics at New York University. A leader of the generation of Austrian economists after Ludwig von Mises and F. A. Hayek, Kirzner has been recognized as one of the minds behind the revival of entrepreneurship and…

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  • The Concise Encyclopedia of Economics

    by David R. Henderson

    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…

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  • Contra Keynes and Cambridge

    by F. A. Hayek

    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…

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  • Correspondence of Adam Smith

    by Adam Smith

    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.

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  • Cost and Choice

    by James M. Buchanan

    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.” To be sure, the Austrian School of economists enunciated similar views of…

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  • Debt and Taxes

    by James M. Buchanan

    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…

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  • The Demand and Supply of Public Goods

    by James M. Buchanan

    Public-goods theory constituted a major element in James M. Buchanan’s research agenda throughout the 1960s. The Demand and Supply of Public Goods is a major part of that work. At the time that Buchanan was elaborating on his theories of public goods, the prevailing trend in public economics was the emergence of public-expenditure theory, which attempted to form a comprehensive…

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  • Democracy in Deficit

    by James M. Buchanan and Richard E. Wagner

    Democracy in Deficit is one of the early comprehensive attempts to apply the basic principles of public-choice analysis to macroeconomic theory and policy. According to Robert D. Tollison in the foreword, “The central purpose of the book was to examine the simple precepts of Keynesian economics through the lens of public-choice theory. The basic discovery was that Keynesian economics had…

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  • Discovery, Capitalism, and Distributive Justice

    by Israel M. Kirzner

    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. This important contribution to…

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  • Early Economic Thought in Spain, 1177–1740

    by Marjorie Grice-Hutchinson

    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…

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  • Economic Calculation in the Socialist Society

    by Trygve J. B. Hoff

    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.

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  • Economic Freedom and Interventionism

    by Ludwig von Mises

    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,…

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