The Oxford Handbook of Austrian Economics
The Oxford Handbook of Austrian Economics
Christopher J. Coyne is the F. A. Harper Professor of Economics at George Mason University.
Peter J. Boettke is University Professor of Economics and Philosophy at George Mason University and Director of the F.A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics at the Mercatus Center
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Abstract
The Oxford Handbook of Austrian Economics provides an overview of the main methodological, analytical, and practical implications of the Austrian school of economics. This intellectual tradition in economics and political economy has a long history that dates back to Carl Menger in the late nineteenth century. The various contributions discussed in this book all reflect this "tension" of an orthodox argumentative structure (rational choice and invisible hand) to address heterodox problem situations (uncertainty, differential knowledge, ceaseless change).The Austrian economists, from the founders to today, seek to derive the invisible-hand theorem from the rational-choice postulate via institutional analysis in a persistent and consistent manner. The Handbook, which consists of nine parts, and 34 chapters, covers a variety of topics including: methodology, microeconomics (market process theory and spontaneous order), macroeconomics (capital theory and Austrian business cycle theory, and free banking), institutions and organizational theory, political economy, development and social change, and the 2008 financial crisis. The goals of the volume are twofold. First, to introduce readers to some of the main theories and insights of the Austrian school. Second, to demonstrate how Austrian economics provides a set of tools for making original and novel scholarly contributions to the broader economics discipline. By providing insight into the central Austrian theories, the volume will be valuable to those who are unfamiliar with Austrian economics. At the same time, it will be appealing to those already familiar with Austrian economics, given its emphasis on Austrian economics as a live and progressive research program in the social sciences.
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Front Matter
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1
Introduction: Austrian Economics as a Progressive Research Program in the Social Sciences
Peter Boettke andChristopher J. Coyne
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Part I Methodology
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Part II Microeconomics
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Part III Macroeconomics and Monetary Economics
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Part IV Institutions and Organizations
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Part V Public Policy and Interventionism
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Part VI Political Economy
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18
Ordoliberalism and the Austrian School
Stefan Kolev
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19
The Tax State as Source of Perpetual Crisis
Richard Wagner
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20
Constitutional Political Economy and Austrian Economics
Mark Pennington
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21
Public Choice and Austrian Economics
Randall G. Holcombe
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22
The Market Process Theory Perspective on Capitalism: Normative Facets and Implications
Paul Dragos Aligica
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18
Ordoliberalism and the Austrian School
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Part VII Austrian Connections and Extensions
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23
On the Economy-Wide Implications of Kirznerian Alertness
Maria Minniti
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24
Contemporary Austrian Economics and the New Economic Sociology
Ryan Neil Langrill andVirgil Henry Storr
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25
The Austrian Theory of Finance: Is It a Unique Contribution to the Field?
Gregory Dempster
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26
Austrian Economics and the Evolutionary Paradigm
Naomi Beck andUlrich Witt
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27
Complexity and Austrian Economics
J. Barkley Rosser
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28
The Sensory Order, Neuroeconomics, and Austrian Economics
William N. Butos andThomas J. McQuade
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23
On the Economy-Wide Implications of Kirznerian Alertness
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Part VIII Development, Transition, and Social Change
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29
What Have We Learned from the Collapse of Communism?
Olga Nicoara andPeter Boettke
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30
The Political Economy of Foreign Intervention
Thomas K. Duncan andChristopher J. Coyne
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31
From Subsistence to Advanced Material Production: Austrian Development Economics
G.P. Manish andBenjamin Powell
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32
On Your Mark, Get Set, Develop! Leadership and Economic Development
Scott A. Beaulier andDaniel J. Smith
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29
What Have We Learned from the Collapse of Communism?
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Part IX Applications: The 2008 Financial Crisis
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End Matter
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