Principles of Economics by Carl Menger lays the foundation of the Austrian School by introducing the concept of subjective value and explaining how individual choices determine prices, production, and the allocation of resources. Menger’s analysis of marginal utility revolutionized economic thought, showing that value comes from consumer preferences rather than intrinsic properties of goods.

Human Action by Ludwig von Mises is the foundational work of Austrian economics, explaining how individual choices, driven by subjective values and scarce resources, shape the economy. It argues that free markets, entrepreneurship, and voluntary exchange lead to prosperity, while government intervention distorts prices and misallocates resources.

Man, Economy, and State by Murray Rothbard is a systematic treatise on economics that builds upon Mises’ praxeology, explaining how individual action drives market processes. It rigorously analyzes production, money, monopoly, and government intervention, demonstrating that free markets maximize prosperity while state interference leads to inefficiencies and economic distortions.

Bureaucracy by Ludwig von Mises critiques the inefficiency and rigidity of bureaucratic management, contrasting it with the dynamic and profit-driven nature of free markets. Mises argues that bureaucracies, by their nature, lack the price signals and incentives necessary for rational decision-making, leading to waste, stagnation, and economic decline.

What Has Government Done to Our Money? by Murray Rothbard explains how government control over money leads to inflation, economic instability, and the erosion of wealth. Rothbard advocates for a return to sound money, such as the gold standard, arguing that free-market banking is the only way to ensure stable and honest currency.

Economics in One Lesson by Henry Hazlitt is a clear and concise introduction to economic principles, demonstrating how short-term policies often create long-term unintended consequences. Using real-world examples, Hazlitt dismantles common economic fallacies and emphasizes the importance of free markets, sound money, and limited government intervention.

The Road to Serfdom by F.A. Hayek warns that central economic planning and government control inevitably lead to tyranny, even when pursued with good intentions. Hayek argues that only free markets and limited government can preserve individual liberty, prosperity, and social order, making his work a timeless critique of socialism and collectivism.

Denationalization of Money makes the case that the state monopoly on currency is neither natural nor necessary, and that competing private monies would discipline issuers far better than central banks ever have. Hayek argues that monetary competition would produce currencies of stable purchasing power as a market outcome rather than a political promise. The book anticipates the intellectual ground beneath modern free-banking and cryptocurrency arguments.

Investigations into the Method of the Social Sciences is Menger's defense of theoretical economics against the German Historical School, and the opening salvo of the Methodenstreit. Menger argues that economic laws are not generalizations from historical data but exact theoretical propositions derived from the structure of human action. The book establishes the methodological foundation on which the entire Austrian tradition would build.

Economic Science and the Austrian Method by Hans-Hermann Hoppe defends the Austrian School’s praxeological approach, arguing that economic laws are derived from human action rather than empirical observation. Hoppe critiques positivism and empiricism in economics, emphasizing that logical deduction, not statistical analysis, is the proper method for understanding economic principles.

The Methodology of Economics by Mark Blaug is a rigorous examination of how economists create and decide between their theories, critiquing the discipline’s tendency to rely on models detached from factual and methodological scrutiny. Blaug argues for a more Popperian, falsification-oriented approach, urging economists to test their explanations rather than hide behind mathematical elegance. The book remains a foundational critique of economic practice and the philosophical assumptions that shape it.

The Beginning of Infinity argues that good explanations — those that are hard to vary while still accounting for what they explain — are the engine of unbounded human progress. Deutsch extends Popper's epistemology into physics, evolution, computation, and political philosophy, showing how the growth of knowledge depends on conjecture, criticism, and the rejection of authority as a source of truth. The book provides the Popperian foundation that complements Austrian economics in the CMI curriculum.

Economic Reasoning by David Gordon is a clear and concise introduction to Austrian economic thought, emphasizing logical deduction over empirical methods. Gordon explains fundamental concepts like value, exchange, and price formation, showing how sound economic reasoning can expose fallacies in mainstream economic theories and government policies.

How to Think About the Economy by Per Bylund is a concise introduction to economic reasoning, emphasizing how individuals make choices under scarcity to create value. It demystifies key concepts like entrepreneurship, market processes, and spontaneous order, providing a clear foundation for understanding how economies function without relying on government control.

An Economic Analysis of Suicide applies Austrian praxeology to one of the most difficult questions in human action: the choice to end one's life. Geiger treats suicide not as pathology but as purposive action under subjective valuation, examining how time preference, expected utility, and the structure of available alternatives shape the decision. The essay extends Misesian reasoning into territory most economists refuse to enter, demonstrating the explanatory range of the Austrian framework.

Principles of Economics by Saifedean Ammous is a university-level textbook that offers a comprehensive and engaging overview of economic concepts through the lens of the Austrian School. The book delves into foundational topics such as value, time, labor, property, capital, technology, and energy, emphasizing the role of individual choice and voluntary exchange in shaping economic outcomes.

The Making of Modern Economics by Mark Skousen traces the history of economic thought, presenting a narrative that highlights the competition of ideas from Adam Smith to the present. Skousen argues that Smith’s invisible hand remains the dominant framework, while contrasting it with socialist, Keynesian, and Austrian perspectives to show how economic theories shape policy and society.

The Machinery of Freedom by David Friedman explores how a fully privatized, anarcho-capitalist society could function without government, relying on voluntary contracts, private law, and market-based solutions for justice and defense. Combining economic theory with real-world examples, Friedman argues that competitive legal and security systems would be more efficient and just than state-controlled alternatives.

Anarchy and the Law by Edward P. Stringham compiles historical and theoretical essays arguing that legal systems can function without a state, relying on private institutions, voluntary agreements, and market-based enforcement. The book presents case studies and theoretical analyses showing how societies have successfully maintained order, property rights, and dispute resolution without government intervention.

Private Governance by Edward P. Stringham challenges the notion that governments are necessary for law and order, demonstrating how markets and voluntary institutions can create and enforce rules effectively. Using historical and contemporary examples, Stringham shows that private solutions—such as arbitration, reputation systems, and industry standards—often outperform state-imposed regulations in maintaining peace and economic cooperation.

Democracy: The God That Failed by Hans-Hermann Hoppe critiques democracy from an Austrian and libertarian perspective, arguing that it leads to short-term governance, economic mismanagement, and moral decay. Hoppe contrasts democracy with monarchy and anarcho-capitalism, contending that private property-based societies produce more stability, prosperity, and long-term planning than democratic states.

The Road to Freedom and the Demise of Nation States argues that the nation-state is not a moral necessity or historical endpoint, but a temporary coordination technology shaped by incentives, power, and myth. Peter B. Bos traces how centralized political authority systematically fails to align knowledge, responsibility, and freedom, and why increasingly mobile individuals, capital, and information are rendering nation-states obsolete. The book challenges readers to think beyond politics toward voluntary, post-statist forms of social order grounded in realism, moral responsibility, and institutional evolution.

The State by Franz Oppenheimer distinguishes between two ways of acquiring wealth: the “economic means” of voluntary exchange and production, and the “political means” of coercion and state power. Oppenheimer argues that the state originates as an institution of conquest and exploitation, existing primarily to benefit a ruling class at the expense of productive individuals.

The Politics of Obedience: The Discourse of Voluntary Servitude by Étienne de La Boétie examines why people submit to tyrannical rule and argues that governments only maintain power through public compliance. La Boétie contends that if people simply withdraw their consent, oppressive regimes would collapse, making passive resistance a powerful tool for liberty.

The Myth of Natural Rights is L.A. Rollins’ provocative critique of the idea that rights are inherent, self-evident, or rooted in nature. He argues that “natural rights” function more as rhetorical constructions than objective truths, urging readers to ground political philosophy in realism rather than moral fiction. The book challenges libertarians and conservatives alike to confront the foundations of their ethical claims.

The Unique and Its Property is Stirner's radical assault on every fixed idea that claims authority over the individual — God, the State, Humanity, Morality, even Freedom itself. Stirner argues that all such abstractions are "spooks" that conscript the individual into service of phantoms, and that the only honest starting point is the concrete, unique self pursuing its own interests. The work is the foundational text of egoism and an indispensable counterweight to natural-rights libertarianism.

A Renegade History of the United States by Thaddeus Russell challenges traditional narratives by highlighting how outcasts, rebels, and rule-breakers shaped American culture and expanded personal freedoms. From prostitutes and gangsters to drunkards and slackers, Russell argues that these "renegades" played a crucial role in loosening social restrictions and driving cultural change.

The Selfish Gene by Richard Dawkins revolutionizes our understanding of evolution by arguing that natural selection operates at the level of genes rather than individuals or species. Dawkins explains how genes act in their own interest, shaping behaviors like cooperation and altruism through mechanisms such as kin selection and reciprocal altruism.

The Division of Labor in Society by Émile Durkheim explores how increasing specialization in modern economies fosters social cohesion and interdependence. Durkheim argues that while traditional societies rely on mechanical solidarity through shared beliefs, advanced societies develop organic solidarity, where cooperation and economic roles create stability despite individual differences.

Wealth, Poverty, and Politics by Thomas Sowell examines the factors that influence economic disparities across nations and groups, arguing that geography, culture, history, and political policies play a greater role than exploitation or systemic oppression. Sowell critiques common myths about wealth inequality and demonstrates how free markets and policies that encourage productivity lead to greater prosperity.