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Rediscovering Fire
In this book, Guinevere Liberty Nell visits this historical laboratory of social science to study the lessons in basic economics that it teaches. Nell observes that the founders of the Soviet experiment, Lenin and other Bolshevik leaders, wrote volumes of articles and books on Marxist theory and then proceeded to enact the very policies that they promised. Therefore the Soviet experiment provides an ideal lens through which to view the consequences of various interpretations of economic theories and Marxist theories. However, despite the wealth of information available on the Soviet experiment, few writers have closely analyzed this historical process and what lessons it might offer for mark...
The Driving Force of the Collective
This book investigates why Austrian economists fail to apply the spontaneous order framework to cooperative relationships – such as a dynamic and evolving public sector – that might complement a thriving market. In direct response to Israel Kirzner's The Driving Force of the Market, Nell challenges traditional Austrian economics by proposing "democratic process theory" as a parallel to market process theory, highlighting the possibilities for an economic organization that harnesses the power of transparent and effective democracy. Keeping in mind the central problems experienced in socialist and capitalist countries due to self-interested political and economic actors, The Driving Force of the Collective highlights the public sector advantages of allowing culture and institutions to evolve endogenously as a spontaneous public sector order.
Basic Income and the Free Market
Discusses whether the Basic Income Guarantee could offer an alternative to both laissez-faire and existing welfare systems in developed countries - often criticized by both advocates and critics of laissez-faire - thus opening a constructive dialog in policy discussion.
Spontaneous Order and the Utopian Collective
Vladimir Lenin, Leon Trotsky, and Nikolai Bukharin were the three leaders of the Russian Revolution who shaped the new society most, both through their theories and their political leadership. All three were motivated by the ideal of building a utopian collective. Once in power, they tirelessly tried to put their vision into practice, but the Soviet system that resulted was nothing like the one they tried to create. In Spontaneous Order and the Utopian Collective, Nell takes her cue from the personal writings and documents of Lenin, Trotsky, and Bukharin to consider them anew from an Austrian theoretical perspective, analyze the divergence between theory and practice using a spontaneous order framework, and identify three interconnected prerequisites necessary for a utopian collectivist society. Nell then asks whether it might be possible to create this utopian collective somehow, and avoid the pitfalls of planning.
The Theory of the Firm
Firms are a ubiquitous feature of the economic landscape, with much of the activity undertaken within an economy taking place within their boundaries. Given the size of the contribution made by firms to economic activity, employment and growth, having a theoretical understanding of the nature and structure of firms is crucial for understanding how an economy functions. The Theory of the Firm firstly offers a brief overview of the past, consisting of a concise discussion of the classical view of production, followed by an outline of the development of the neoclassical - or ‘textbook’ - approach to firm level production. Secondly, the ‘present’ of the theory of the firm is discussed in...
Basic Income and the Free Market
Discusses whether the Basic Income Guarantee could offer an alternative to both laissez-faire and existing welfare systems in developed countries - often criticized by both advocates and critics of laissez-faire - thus opening a constructive dialog in policy discussion.
The Cambridge Companion to Hayek
F. A. Hayek (1899–1992) was among the most important economists and political philosophers of the twentieth century. He is widely regarded as the principal intellectual force behind the triumph of global capitalism, an 'anti-Marx' who did more than any other recent thinker to elucidate the theoretical foundations of the free market economy. His account of the role played by market prices in transmitting economic knowledge constituted a devastating critique of the socialist ideal of central economic planning, and his famous book The Road to Serfdom was a prophetic statement of the dangers which socialism posed to a free and open society. He also made significant contributions to fields as diverse as the philosophy of law, the theory of complex systems, and cognitive science. The essays in this volume, by an international team of contributors, provide a critical introduction to all aspects of Hayek's thought.
Austrian Economic Perspectives on Individualism and Society
Can we improve upon both the free market and nationalization? Market socialist and other heterodox exploration of cultural and social factors can help answer this question using Austrian economic theory. This volume brings together economists and political scientists specializing in evolutionary change and spontaneous order. Spontaneous order and other Austrian theories are complemented by the consideration of cultural, social and communal interaction. Austrian Economic Perspectives on Individualism and Society bridges the gap between free market advocates stressing individual rights and individualistic culture, and left-leaning thinkers who stress social justice and a culture of social solidarity, or collectivism.
Universal Basic Income
An accessible introduction to the simple (yet radical) premise that a small cash income, sufficient for basic needs, ought to be provided regularly and unconditionally to every citizen. The growing movement for universal basic income (UBI) has been gaining attention from politics and the media with the audacious idea of a regular, unconditional cash grant for everyone as a right of citizenship. This volume in the Essential Knowledge series presents the first short, solid UBI introduction that is neither academic nor polemic. It takes a position in favor of UBI, but its primary goal remains the provision of essential knowledge by answering the fundamental questions about it: What is UBI? How ...
Freedom in Contention
Social movements have been implicated in long-term societal transformations, helping bring about political democratization, economic freedom, and social equality. In recent years, movements such as Occupy Wall Street, the Arab Spring, and Black Lives Matter have organized protests, and other contentious activities, against varied injustices in the world today. But what are social movements, how do they work, and what are their impacts upon society? In this landmark contribution, social movement activities and outcomes are understood through the lens of liberal political economy. This approach emphasizes dynamic collective choices within multi-faceted economic, political, and social environme...
