Required Readings

Pillar I: Foundations

Hoppe, Hans-Hermann. Economic Science and the Austrian Method. Auburn, AL: Ludwig von Mises Institute, 1995.

Menger, Carl. Investigations into the Method of the Social Sciences. Translated by Francis J. Nock. New York: New York University Press, 1985.

Mises, Ludwig von. Human Action: A Treatise on Economics. Auburn, AL: Ludwig von Mises Institute, 1998.

Rothbard, Murray N. "Praxeology: The Methodology of Austrian Economics." In The Logic of Action One: Method, Money, and the Austrian School, 58–77. Cheltenham, UK: Edward Elgar, 1997.

Selgin, George A. "Praxeology and Understanding: An Analysis of the Controversy in Austrian Economics." The Review of Austrian Economics 2, no. 1 (1988): 19–58.

Pillar II: Catallaxy

Buchanan, James M., and Viktor J. Vanberg. "The Market as a Creative Process." Economics and Philosophy 7, no. 2 (1991): 167–186.

Hayek, F. A. "The Use of Knowledge in Society." American Economic Review 35, no. 4 (1945): 519–530.

Kirzner, Israel M. Competition and Entrepreneurship. Chicago: University of Chicago Press, 1973.

Menger, Carl. Principles of Economics. Translated by James Dingwall and Bert F. Hoselitz. Auburn, AL: Ludwig von Mises Institute, 2007. Chapters 1–4.

Smith, Adam. An Inquiry into the Nature and Causes of the Wealth of Nations. Edited by Edwin Cannan. Chicago: University of Chicago Press, 1976. Book I, Chapters 1–3.

Pillar III: Governance

Coase, Ronald H. "The Problem of Social Cost." The Journal of Law and Economics 3 (1960): 1–44.

Leeson, Peter T. Anarchy Unbound: Why Self-Governance Works Better Than You Think. Cambridge: Cambridge University Press, 2014.

Ostrom, Elinor. Governing the Commons: The Evolution of Institutions for Collective Action. Cambridge: Cambridge University Press, 1990.

Stringham, Edward P. Private Governance: Creating Order in Economic and Social Life. Oxford: Oxford University Press, 2015.

Pillar IV: Medium of Exchange

Hayek, F. A. Denationalisation of Money: The Argument Refined. London: Institute of Economic Affairs, 1990.

Hayek, F. A. "The Use of Knowledge in Society." American Economic Review 35, no. 4 (1945): 519–530.

Menger, Carl. "On the Origin of Money." The Economic Journal 2, no. 6 (1892): 239–255.

Selgin, George, and Lawrence H. White. "How Would the Invisible Hand Handle Money?" Journal of Economic Literature 32, no. 4 (1994): 1718–1749.

White, Lawrence H. The Theory of Monetary Institutions. Oxford: Blackwell, 1999.

Pillar V: Institutions

Acemoglu, Daron, and James A. Robinson. Why Nations Fail: The Origins of Power, Prosperity, and Poverty. New York: Crown Business, 2012.

Boettke, Peter J., Christopher J. Coyne, and Peter T. Leeson. "Institutional Stickiness and the New Development Economics." American Journal of Economics and Sociology 67, no. 2 (2008): 331–358.

Bos, Peter B. The Road to Freedom and the Demise of Nation States. Free Trade Press, 2015.

North, Douglass C. Institutions, Institutional Change and Economic Performance. Cambridge: Cambridge University Press, 1990.

Williamson, Oliver E. "The New Institutional Economics: Taking Stock, Looking Ahead." Journal of Economic Literature 38, no. 3 (2000): 595–613.

Pillar VI: Jurisprudence

Benson, Bruce L. The Enterprise of Law: Justice Without the State. San Francisco: Pacific Research Institute for Public Policy, 1990.

Friedman, David D. Law's Order: What Economics Has to Do with Law and Why It Matters. Princeton: Princeton University Press, 2000.

Leeson, Peter T. "The Laws of Lawlessness." The Journal of Legal Studies 38, no. 2 (2009): 471–503.

Stringham, Edward P. "Market Chosen Law." Journal of Libertarian Studies 14, no. 1 (1999): 53–77.

Pillar VII: Security

Benson, Bruce L. To Serve and Protect: Privatization and Community in Criminal Justice. New York: New York University Press, 1998.

Friedman, David D. The Machinery of Freedom: Guide to a Radical Capitalism. 3rd ed. New York: Harper & Row, 2014. Chapter 29: "Police, Courts, and Laws—on the Market."

Nozick, Robert. Anarchy, State, and Utopia. New York: Basic Books, 1974. Chapters 1–3.

Rothbard, Murray N. For a New Liberty: The Libertarian Manifesto. New York: Collier Books, 1978. Chapter 12: "The Public Sector, III: Police, Law, and the Courts."

Pillar VIII: Philanthropy

Beito, David T. From Mutual Aid to the Welfare State: Fraternal Societies and Social Services, 1890–1967. Chapel Hill: University of North Carolina Press, 2000.

Cornuelle, Richard C. Reclaiming the American Dream: The Role of Private Individuals and Voluntary Associations. New Brunswick, NJ: Transaction Publishers, 1993.

Friedman, Milton. Capitalism and Freedom. Chicago: University of Chicago Press, 1962. Chapter 11: "The Alleviation of Poverty."

Olasky, Marvin. The Tragedy of American Compassion. Washington, D.C.: Regnery Gateway, 1992.

Pillar IX: Anthropoethics

Hayek, F. A. The Fatal Conceit: The Errors of Socialism. Chicago: University of Chicago Press, 1988.

McCloskey, Deirdre N. The Bourgeois Virtues: Ethics for an Age of Commerce. Chicago: University of Chicago Press, 2006.

Smith, Adam. The Theory of Moral Sentiments. Edited by D. D. Raphael and A. L. Macfie. Indianapolis: Liberty Fund, 1982.

Storr, Virgil Henry, and Ginny Seung Choi. Do Markets Corrupt Our Morals? New York: Palgrave Macmillan, 2019.

Pillar X: Capstone Pillar

Boettke, Peter J. Living Economics: Yesterday, Today, and Tomorrow. Oakland, CA: Independent Institute, 2012.

Mises, Ludwig von. Theory and History: An Interpretation of Social and Economic Evolution. New Haven: Yale University Press, 1957.

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