Austrian Economics | Reseach

Deficits, Debt, and Debasement

Scott Beaulier, Peter J. Boettke | Aug 05, 2011
This policy brief discusses the United States' ongoing cycle of debt and deficits.

The Music of Social Intercourse

Synchrony in Adam Smith
Published in
The Independent Review
Daniel Klein, Michael J. Clark | Jul 05, 2011
According to recent research, marching, singing, and dancing with others fosters cooperation. That quality may explain why the pioneering theorist of social cooperation, Adam Smith, infused The Theory of Moral Sentiments with the language of music and harmony.

Taking Institutions Seriously

Rethinking the Political Economy of Development in the Philippines
Published in
Asian Development Review
John Nye | Jun 21, 2011
This essay uses the Philippines as a case study to suggest what is wrong with leading development prescriptions.

The Two Social Philosophies of Ostroms' Institutionalism

Published in
Policy Studies Journal
Paul Dragos Aligica, Peter J. Boettke | Mar 02, 2011
This article argues that the Ostroms' institutionalism has a dimension that is complex and profound enough to deserve to be considered a “social theory” or a “social philosophy.” The article pivots around the thesis that the “social philosophy” behind the Bloomington School's research agenda has in fact two facets that may or may not be consistent with each other.

Liberty Between the Lines in a Statist and Modernist Age

Unfolding the Adam Smith in Friedrich Hayek
Published in
Economic Affairs
Daniel Klein | Oct 14, 2010
This article interprets F. A. Hayek as having been constrained by the statism and modernism of his times, and as writing in a way that obscured some of his central ideas.

The Evolution of Rule of Law in Hayek's Thought, 1935-1955

From Collectivist Economic Planning to the Political Ideal of the Rule of Law
Steven D. Ealy | Jul 26, 2010
Friedrich Hayek‘s interest in the ideal of rule of law as the centerpiece of a free society grew out of his analysis of the nature of centralized economic planning. This paper traces the development…

From Weight Watchers to State Watchers: Towards a Narrative of Liberalism

A review of Alan S. Kahan's Mind vs. Money: The War between Intellectuals and Capitalism.
Published in
The Review of Austrian Economics
Daniel Klein | Jun 12, 2010
This essay discusses Kahan’s erudite and insightful—though sometimes exasperating—work, and takes the opportunity to develop some ideas on the topic, ideas in line with Hayek’s thought.

The Social Construction of the Market

Virgil Storr | Nov 2009
Inspired by Berger and Luckmann’s work The Social Construction of Reality, this paper describes the social construction of the market, specifically focusing on the Austrian understanding of the…

Why the Market?

Markets as Social and Moral Spaces
Published in
Journal of Markets and Morality
Virgil Storr | Nov 01, 2009
Critics of the market worry that as it expands the communal sphere declines. They also worry that the market encourages vice and has little or no scope for virtue. As I argue, however, the critics fail to realize that the market is a social space where commercial as well as social bonds are formed and nurtured. That it is also a moral space where virtues are learned and developed.

Thought Experiments, Counterfactuals, and Comparative Analysis

Published in
The Review of