The Foundations of Modern Austrian Economics
By Edwin G. Dolan
In June 1974 the Institute for Humane Studies sponsored the first of a series of conferences on Austrian economics. This conference was held at Royalton College in South Royalton, Vermont, and attracted some fifty participants from all regions of the United States and three continents abroad. The conferees came to hear Israel M. Kirzner, Ludwig M. Lachmann, and Murray N. Rothbard survey the fundamentals of modern Austrian economics and thereby challenge the Keynesian-neoclassical orthodoxy, which has dominated economic science since World War II.Each lecturer addressed himself to two general questions: What is the distinctive Austrian contribution to economic theory? And what are the important problems and new directions for Austrian economics today? By answering these questions, the papers collected in this volume become more than just a set of conference proceedings—they take on the character of a manifesto and provisional textbook as well…. [From the Preface by Edwin G. Dolan]
First Pub. Date
Kansas City: Sheed and Ward, Inc.
Collected essays, various authors. 1976 conference proceedings. Includes essays by Gerald P. O'Driscoll, Israel M. Kirzner, Murray N. Rothbard, Ludwig M. Lachmann, and more.
The text of this edition is copyright ©1976, The Institute for Humane Studies.
Edwin G. Dolan is Assistant Professor of Economics at Dartmouth College. His major scholarly publications include “Alienation, Freedom, and Economic Organization,”
Journal of Political Economy 79(September-October 1971):1084-94; “The Teleological Period in Soviet Planning,”
Yale Economics Essays 10 (Spring 1970):3-41; and
TANSTAAFL: An Economic Strategy for the Environmental Crisis (New York: Holt, Rinehart & Winston, 1971).
Gerald Patrick O’Driscoll, Jr., is Assistant Professor of Economics at Iowa State University. His dissertation is entitled “F. A. Hayek’s Contributions to Economics” (University of California, 1973). His recent publications include “The Specialization Gap and the Ricardo Effect: Comment on Ferguson,”
History of Political Economy 7(Summer 1975):261-69.
Israel M. Kirzner is Professor of Economics at New York University. His major works on economic theory include
The Economic Point of View (Princeton: D. Van Nostrand, 1960);
An Essay on Capital (New York: Augustus M. Kelley, 1966); and
Competition and Entrepreneurship (Chicago: University of Chicago Press, 1973).
Ludwig M. Lachmann is currently Visiting Professor of Economics at New York University. His major writings include
Capital and Its Structure (London: Bell & Sons, 1956);
The Legacy of Max Weber (London: Heinemann, 1970); and
Macroeconomic Thinking and the Market Economy (London: Institute of Economic Affairs, 1973).
Murray N. Rothbard is Professor of Economics at Polytechnic Institute of New York. Among his numerous publications in economics, history, and the social sciences are the following titles:
Man, Economy, and State, 2 vols. (Princeton: D. Van Nostrand, 1962);
America’s Great Depression (Princeton: D. Van Nostrand, 1972); and
Power and Market: Government and the Economy (Menlo Park, Calif.: Institute for Humane Studies, 1970).
Sudha R. Shenoy is Lecturer in Economics at The Cranfield School of Management at Bedford, United Kingdom. Her major writings on economics include “A Note on Mr. Sandesara’s Critique,”
Indian Economic Journal, April-June 1967;
India: Progress or Poverty? A Review of Central Planning in India, 1951-69, Institute of Economic Affairs Research
Paper No. 27 (London) 1971. She has edited F. A. Hayek’s major pronouncements on the theory of inflation and the economics of J. M. Keynes under the title
A Tiger by the Tail, Institute of Economic Affairs, Hobart Paper no. 4 (London, 1972).