Market process theory is crucial to our knowledge and expectations of actors working toward economic coordination and cooperation. In the wake of the 2008 financial crisis, there has been a renewed interested in using new applications of market process theory to better understand the global political economy.
This volume brings together original research from the Austrian, Virginia, and Bloomington schools of political economy to analyse central elements of market process and market order. These include economic calculation, entrepreneurship, institutions and learning. Edited by three of the leading scholars in this field, the collection offers a multitude of new interdisciplinary understandings by engaging with scholars working in anthropology, economics, entrepreneurship, history, political science, public policy, and sociology.
Introduction, Peter Boettke, Christopher Coyne, Virgil Storr / Part I - Exploring and Extending the Theory of the Market Process / 1. Plato's Economic Genius, Nathan Sawarzky / 2. Beyond the Efficiency of the Market: Adam Smith on Sympathy and the Poor Law, Brianne Wolf / 3. Why be robust? The contribution of market process theory to the Robust Political Economy research program, Nick Cowen / 4. Hayek’s Legacy for Environmental Political Economy, Dan Shahar / Part II - Interdisciplinary Applications of Market Process Theory / 5. The Origins of Entrepreneurship and the Market Process: An Archaeological Assessment of Competitive Feasting, Trade, and Social Cooperation, Crystal Dozier / 6. The Political Economy: The Invocation of Liberal Economics by the Catholic Press in the French Right-to-Work Debates of 1848, Nicholas O’Neill / 7. How the West was Watered: Private Property and Collective Action, Bryan Leonard / 8. Adam Smith’s Principles of Taxation in the Early American Republic, Frank Garmon / 9. Narrating the Market Process: How Stories Can Promote the Economic Way of Thinking, Jason Douglas / 10. The Market Process in Health Care, Jerrod Anderson / 11. This is Your Entrepreneurial Alertness on Drugs: Prohibition & the Market Process, Audrey Redford / About the Authors
This is a truly interdisciplinary work. One of its greatest strengths is the editors’ ability to bring contributions from such a wide range of disciplines into focus within the frame work of market process economics and public choice.
The topics contained in the book are not only of interest to those working to understand the theoretical underpinnings of the various schools of thought, but are also of interest to those wishing to analyse and discuss policy… The editors of this book are some of the best researchers in this area today.
Peter J. Boettke is the Vice President and Director of the F. A. Hayek Program for Advanced Study
in Philosophy, Politics and Economics at the Mercatus Center and Professor of Economics and
Philosophy at George Mason University.
Christopher J. Coyne is the F. A. Harper Professor of Economics at George Mason University and
the Associate Director of the F. A. Hayek Program for Advanced Study in Philosophy, Politics, and
Economics at the Mercatus Center.
Virgil H. Storr is Research Associate Professor of Economics and Senior Fellow, F.A. Hayek Program for
Advanced Study in Philosophy, Politics & Economics, George Mason University.