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Most people think that free-market ideas and theories were first substanially developed in the eighteenth century by figures such as Adam Smith. In this revised edition of Faith and Liberty, Alejandro A. Chafuen illustrates this misconception by examining the sixteenth and seventeenth century writings of a group of Catholic theologians and philosophers. The Late- Scholastics, as they are called, were the first to engage in a systematic moral analysis of the ethical issues associated with trade and commerce. In doing so, they arrived at solutions that are in many senses indistinguishable from the ideas of many modern free market commentators. In this revised ediiton, Chafuen blosters his case by including recent and pertinent material which gives rise to new questions and concerns. Reading this book will force to consider what they understand to be an authentiaclly Christian approach to economic questions.
Economic Freedom and Interventionism is both a primer of the fundamental thought of Ludwig von Mises and an anthology of the writings of perhaps the best-known exponent of what is now known as the Austrian School of economics. This volume contains forty-seven articles edited by Mises scholar Bettina Bien Greaves. Among them are Mises's expositions of the role of government, his discussion of inequality of wealth, inflation, socialism, welfare, and economic education, as well as his exploration of the "deeper" significance of economics as it affects seemingly noneconomic relations between human beings. These papers are valuable reading for students of economic freedom and the science of human action. Ludwig von Mises (1881-1973) was the leading spokesman of the Austrian School of economics throughout most of the twentieth century. Bettina Bien Greaves is a former resident scholar and trustee of the Foundation for Economic Education and was a senior staff member at FEE from 1951 to 1999.
How does history end? -- The Red Queen -- Will to power -- Economics outside the corridor -- Allegory of good government -- The European scissors -- Mandate of Heaven -- Broken Red Queen -- Devil in the details -- What's the matter with Ferguson? -- The paper leviathan -- Wahhab's children -- Red Queen out of control -- Into the corridor -- Living with the leviathan.
Universal Economics is a new work that bears a strong resemblance to its two predecessors, University Economics (1964, 1967, 1972) and Exchange and Production (1969, 1977, 1983). Collaborating again, Professors Alchian and Allen have written a fresh presentation of the analytical tools employed in the economic way of thinking. More than any other principles textbook, Universal Economics develops the critical importance of property rights to the existence and success of market economies. The authors explain the interconnection between goods prices and productive-asset prices and how market-determined interest rates bring about the allocation of resources toward the satisfaction of consumption demands versus saving/investment priorities. They show how the crucial role of prices in a market economy cannot be well understood without a firm grasp of the role of money in a modern world. The Alchian and Allen application of information and search-cost analysis to the subject of money, price determination, and inflation is unique in the teaching of economic principles. No one has ever done price theory better than Alchian -- that is, no one has ever excelled Alchians ability to explain the reason, role, and nuances of prices, of competition, and of property rights. And only a precious few -- I can count them on my fingers -- have a claim for being considered to have done price theory as well as he did it. -- Donald Boudreaux, George Mason University. Armen A. Alchian (19142013), one of the twentieth centurys great teachers of economic science, taught at UCLA from 1958 to 1984. Founder of the UCLA tradition in economics, he has become recognized as one of the most influential voices in the areas of market structure, property rights, and the theory of the firm. William R. Allen taught at Washington University prior to joining the UCLA faculty in 1952. Along with research primarily in international economics and the history of economic theory, he has concentrated on teaching economics. Universal Economics is his third textbook collaboration with Armen Alchian. Jerry L. Jordan wrote his doctoral dissertation under the direction of Armen Alchian. He was Dean of the School of Management at the University of New Mexico, a member of President Reagans Council of Economic Advisors and of the U.S. Gold Commission, Director of Research of the Federal Reserve Bank of Saint Louis, and President and CEO of the Federal Reserve Bank of Cleveland.
"Werner Troesken looks at the history of the United States with a focus on three diseases (smallpox, typhoid fever, and yellow fever) to show how constitutional rules and provisions that promoted individual liberty and economic prosperity also influenced, for good and for bad, the country's ability to eradicate infectious disease. Ranging from federalism under the Commerce Clause to the Contract Clause and the Fourteenth Amendment, Troesken argues persuasively that many institutions intended to promote desirable political or economic outcomes also hindered the provision of public health"--Dust jacket.
The fifteen essays in this collection, first published in 1947, treat a variety of economic, social, political, and philosophical problems and were written by a legendary professor of economics at the University of Chicago. Professor Knight (1885-1972) wrote from the viewpoint of ethics as well as economics. His own words best describe his objective in this book: "The basic principle of science--truth or objectivity--is essentially a moral principle. . . . The presuppositions of objectivity are integrity, competence, humility. . . . All coercion is absolutely excluded in favor of free meeting of free minds."
"Originally delivered as a lecture at Princeton University, October 1958, at the 9th meeting of the Mont Pelerin Society"--Page 7. Includes bibliographical references.