Austrian Economics Introductions
March 25, 2017
From: RM
Sent: Friday, March 24, 2017 9:27 PM
To: [email protected]
Subject: Questions on schools, what to minor in, and book recommendations?
Dear Mr. Block: Hello sir, my name is Robert Muñoz, and first I just want to say I am a fan, and enjoy your work. I’m writing you today about if there are any schools in Florida that teach Austrian Economics? I would also like to know what an economics major should minor in? Also if you can recommend some books I should read on Austrian Economics, and libertarianism, or any other books, any material you might want to recommend? I read the Mises Institute daily, and I have recently read Economics in One Lessen, The Law, End the Fed, Anatomy of the State, and just started Economic Science and the Austrian Method by Hoppe. Thank you very much RM
Dear RM: Sorry, I know of no universities Florida where Austrian economics is taught by more than one professor. However, Randy Holcombe of Florida State has contributed to Austrian economics, but I don’t think there are any other Austrian professors there. Econ majors who intend to go to mainstream US universities for a phd should minor in math; econ majors who intend to go to European universities for a phd which feature Austrian economics, should minor in philo. You’re off to a good start with your readings. For more suggestions, see below. Also, why not consider coming to Loyola to study with me and my entire department, consisting of 100% Austrian economists, all of us are also libertarians?
Here are introductions to Austrian Economics:
Ballve, 1963; Bien-Greaves, 2012; Butler, 2010; Callahan, 2002; Cox, 2007; Gordon, 2000; Dolan, 1976; Hazlitt, 1946; Murphy, 2010A, 2010B; Ritenour, 2010; Rockwell, 1995; Shapiro, 1985; Schiff and Schiff, 2010; Taylor, 2008; Woods, 2009, 2011
Ballve, Faustino. [1956] 1963. Essentials of Economics. Princeton, N.J.: D. Van Nostrand
Bien-Greaves, Bettina. 2012. “Free Market Economics Syllabus.” Auburn, Alabama: Mises Institute; http://www.amazon.com/Free-Market-Economics-Syllabus-ebook/dp/B007W64E02
Butler, Eammon. 2010. ‘Austrian Economics: A Primer . London, UK: Adam Smith Institute; http://www.adamsmith.org/research/books/austrian-economics-a-primer
Callahan, Gene. 2002. Economics for Real People. Auburn, AL.: Mises Institute
Cox, Jim. 2007. The Concise Guide to Economics, Auburn, Alabama: Mises Institute
Gordon, David. 2000. An Introduction to Economic Reasoning. Auburn, Alabama: Mises Institute
Dolan, Edwin G., ed. 1976. The Foundations of Modern Austrian Economics, Kansas City: Sheed & Ward, http://www.econlib.org/library/NPDBooks/Dolan/dlnFMAContents.html
Hazlitt, Henry. 2008 [1946]. Economics in One Lesson. Auburn, AL: Mises Institute;
http://mises.org/books/economics_in_one_lesson_hazlitt.pdf
https://mises.org/store/Economics-in-One-Lesson-P33C1.aspx
Murphy, Robert P.2010A. Lessons for the Young Economist. Auburn, AL: Mises Institute
Murphy, Robert P. 2010B. “What is Austrian economics?”
Ritenour, Shawn. 2010. Foundations of Economics, Eugene, OR: Wipf and Stock.
Rockwell, Llewellyn. 1995. Why Austrian Economics Matters. http://mises.org/page/1444/Why-Austrian-Economics-Matters; http://mises.org/etexts/why_ae.asp
Schiff, Peter D. and Andrew J. Schiff. 2010. How an Economy Grows and Why It Crashes. Wiley
Shapiro, Milton M. 1985. The Foundations of the Market Price System. Boston: University Press of America; http://www.mises.org/etexts/Foundations.pdf
Taylor, Thomas C. 2008. An Introduction to Austrian Economics. Auburn AL: The Mises Institute; http://mises.org/document/57; http://www.amazon.com/gp/product/B001BSHNDC?ie=UTF8&tag=lrc18-20&linkCode=xm2&camp=1789&creativeASIN=B001BSHNDC
Woods, Thomas E. Jr. 2009. Meltdown: A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse. Washington D.C.: Regnery Publishing
Woods, Thomas E. Jr. 2011. “Learn Austrian Economics.” December 20;
http://archive.lewrockwell.com/woods/woods177.html
Also put these on your reading list:
1. Mises, Ludwig von. 1988 [1958]. Liberty and Property. http://www.mises.org/document/880/Liberty-and-Property; http://library.mises.org/books/Ludwig%20von%20Mises/Liberty%20and%20Property.pdf
2. Rothbard, Murray N. 1963, 1985, 1990 What Has Government Done to Our Money? Auburn, AL.: Mises Institute; http://www.mises.org/rothbard/rothmoney.pdf
3. Mises, Ludwig von. 1969. Bureaucracy, New Rochelle, N.Y.: Arlington House; http://www.mises.org/Literature/search/?q=Bureaucracy; http://www.mises.org/document/875/Bureaucracy
http://bit.ly/MisesBUR
4. Rothbard, Murray N. 1969. “The Austrian Theory of the Trade Cycle,” p. 78-79, in Economic Depressions: Their Cause and Cure, Lansing, Michigan: Constitutional Alliance
http://mises.org/tradcycl/econdepr.asp; http://mises.org/daily/3127/Economic-Depressions-Their-Cause-and-Cure
5. Mises, Ludwig von. 1972. The Anti-Capitalist Mentality, South Holland, IL: Libertarian Press; http://www.mises.org/Literature/search/?q=The Anti-Capitalist Mentality; http://www.mises.org/document/1164/The-AntiCapitalistic-Mentality
6. Rothbard, Murray N. 1996. “Economic Depressions: Their Cause and Cure.” The Austrian Theory of the Trade Cycle and Other Essays. Auburn, AL: The Ludwig von Mises Institute, pp. 37-64. (Originally published by the Center for Libertarian Studies, 1978.) http://mises.org/daily/3127/Economic-Depressions-Their-Cause-and-Cure
7. Mises, Ludwig von. 1975[1933]. Economic Calculation in the Socialist Commonwealth, http://www.mises.org/Literature/search/?q=Economic Calculation in the Socialist Commonwealth; http://www.mises.org/document/448/Economic-Calculation-in-the-Socialist-Commonwealth
8. Rothbard, Murray N. 1994. The Case Against the Fed. Auburn, AL: The Ludwig von Mises Institute; http://mises.org/books/fed.pdf
9. Mises, Ludwig von. 1952. Planning for Freedom. http://www.mises.org/document/4309/Planning-for-Freedom-and-Twelve-other-Essays-and-Addresses; http://library.mises.org/books/Ludwig%20von%20Mises/Planning%20for%20Freedom%20and%20Twelve%20other%20Essays%20and%20Addresses.pdf
10. Rothbard, Murray N. 1962. “The Case For a 100 Percent Gold Dollar.” Leland Yeager (ed.), In Search of a Monetary Constitution. Cambridge, MA: Harvard University Press, pp. 94 136. Reprinted as The Case For a 100 Percent Gold Dollar, Washington, DC: Libertarian Review Press, 1974. http://mises.org/rothbard/100percent.pdf
11. Mises, Ludwig von. 1940[2004]. Interventionism. Auburn, AL: The Mises Institute; http://mises.org/etexts/mises/interventionism/contents.asp
Here is the case for enrolling at Loyola University New Orleans:
Please disregard the form letter format of this message. I don’t know how else to get out this information.
If you are an adult past school age, please send this to young people on whose behalf you want to promote free enterprise: Are you a student? What school? What major? What year? I ask because I am an economics professor at Loyola University New Orleans, and I am looking for students to come study with me. Loyola must be one of the very few universities in the entire world where all the professors in the economics department are heavily oriented towards Austrian (free market) economics and libertarianism. An incomparable advantage of our program is that we ensure students are taught ALL schools of economic thought (including Keynesianism and neo-classical economics) and political philosophy (including socialism and communism). Unlike many other economics departments, however, we critique the various schools of thought and through this process provide students with all sides of these issues. We are constantly on the lookout for bright students who would benefit from studying with professors who appreciate economic freedom, free markets, private property rights and laissez faire capitalism. If you are a high school or college student, please get in touch with me so that I can urge you to consider applying or transferring to Loyola New Orleans. If you are past school age but know any young person who would be interested our program, please pass this note on to them. Why attend Loyola, and not a more prestigious place like Harvard, Yale, Princeton, Chicago, Stanford? The difference is we focus on undergraduate students, placing emphasis on individual attention, no teaching assistants here! Second, if you want to go on for advanced study, get a Ph.D., prestige matters for your graduate school, not so much for your undergraduate education. Third, if you want to learn the case in favor of Austrian economics, free enterprise, laissez faire capitalism, you’ll need the scope and depth our faculty can provide you, you’ll find what you want at Loyola. Why the emphasis on Austrian economics? Read this on that: Rockwell, Llewellyn H., Jr. 1995. Why Austrian Economics Matters. Auburn AL: The Mises Institute; http://www.mises.org/etexts/why_ae.asp
Open letter to college aged students interested in Austrian economics (the economics of Ron Paul, Friedrich Hayek, Murray Rothbard and Ludwig von Mises) and libertarianism (the political philosophy of Ron Paul, Ayn Rand, Robert Nozick and Murray Rothbard).
Please consider enrolling at Loyola University New Orleans. I’d LOVE to have you as a student. If you are interested and would like to know more about applying or transferring, CONTACT ME NOW!!
If you are seriously interested, I will connect you directly to our admissions office where they will assist you with admission, transfer options and scholarships.
I think it would be a big mistake for any student who appreciates Austrian economics and the libertarian political philosophy to go to any college or university without at least a few Austro-libertarian professors. All of my colleagues in our four member economics department are very free market oriented. Two others of them, apart from me, are also Austrian economists (Bill Barnett, and Leo Krasnozhon). The one non-Austrian in the department (John Levendis) is very sympathetic to this school of thought. Plus a colleague in the finance dept, Stuart Wood, a former student of eminent Austrian Israel Kirzner’s, is a staunch Austrian; another finance prof, Ron Christner, is also a supporter of markets. There are also two solid libertarian professors in our law school (Jim Viator, David Gruning). Nick Capaldi, another libertarian, teaches business ethics. We even have a professor of chemistry, Bill Walkenhorst, who is supportive of our free enterprise initiatives, and attends many of our events. It is also possible to earn a BA in economics, which, instead of business courses, you take courses in humanities and social sciences.
An added benefit of enrolling at Loyola is that we encourage students to publish in refereed scholarly journals and regularly succeed in so placing their writings. This is the “publish or perish” syndrome that determines promotion and tenure for professors – so being published in venues of this sort is an unusual honor for undergraduates. I attach a listing of past successes in this regard.
Our economics club which meets twice a month, has had such outside speakers as Ron Paul, Hans Hoppe, Guido Hulsmann, Tom DiLorenzo, Bob Higgs, Walter Williams, Roger Garrison, Tom Woods, Peter Boettke, Tibor Machan, James Buchanan, George Ayittey, Richard Ebeling, Judge Andrew Napolitano and Joe Salerno. Ron Paul spoke for our economics club in the fall, 2009 to a gigantic audience. Our libertarian seminar studies books like Rothbard’s For a New Liberty and the Ethics of Liberty. Our Austrian economic seminar discusses publications such as Mises’ Human Action, and, most recently, Murray Rothbard’s The Case Against the Fed, and Tom Wood’s, Meltdown. These seminars are so popular with libertarian students at other New Orleans area Universities (Tulane, UNO) that not only do they attend them, they actually enroll in our courses (economics as taught at these other universities is very mainstream; that is, Keynesian and mathematically oriented.)
With all of this Austro-libertarian activity, and free market professors, as you can imagine, many of our students have adopted this philosophy. C’mon down. You’ll be among friends. At pretty much at any other college, with one or two exceptions, you’d be an ugly duckling. With us, you’ll be a beautiful swan. This doesn’t mean we don’t have socialist, liberal, “progressive” and multiculturist professors. Like most universities, we have plenty of them and they vastly outnumber us; but this is not altogether bad: it is good to acquaint yourself with all perspectives in political economy. However, Loyola is virtually unique in also presenting students with a strong free libertarian Austrian enterprise point of view.
WE DO OFFER SCHOLARSHIPS. The Office of Admissions offers several types of academic scholarships based on need and merit. My suggestion is to apply to Loyola http://apply.loyno.edu/ to determine your eligibility. The College of Business does offer some scholarships on a one-time basis based on need and academics, but are reserved for current students, not new admits. Please let me know if you have any questions about this. The website offers quite a bit of useful information, specifically on the scholarships and financial aid webpage http://www.loyno.edu/financialaid/
I’m copying a person on this in case you need help, or more information, about Loyola University New Orleans: She is Director of Admissions, Susan Oakes and her email is [email protected]. I suggest you apply on line for admission. If you are denied, please get back to me for other suggestions.
We have a very good record of publishing student papers in refereed journals, which also helps in this process, and sending off students to graduate schools where they successfully attain phd degrees and become economics professors. Two of them, Levendis and D’Amico fit this bill, in that they were previously undergraduates at Loyola, and are now professors here.
Message from Susan Oakes:
Greetings from Loyola University New Orleans! As you begin your college search, we wanted to ensure that you were aware of the information that Loyola’s web site can provide you. By visiting http://www.loyno.edu/, you can apply for admission, visit various departments, find out about upcoming events and even plan a visit to our campus. We invite you to explore our web site and discover some of the distinctive characteristics of Loyola University New Orleans. You can access our application via our website at http://apply.loyno.edu/application/.
During the coming year you will receive periodic updates from us concerning admissions, financial aid, scholarships and upcoming events. We would like to send these updates to you via both email and traditional mail. If you wish for us not to send you information via email, please send us a reply to this message stating that you do not wish to receive email from Loyola.
If you have any questions about Loyola, please feel free to e-mail us at [email protected] or call us at 504.865.3830 or 800.4.LOYOLA.
Sincerely,
Susan
Susan O’Neil Oakes
Director of Admissions
[email protected]
800.4.LOYOLA or 504.865 3240
We are still accepting applications for admission and scholarship consideration. You can apply utilizing our application via our website at http://apply.loyno.edu/ If you have any questions about the application process please feel free to contact [email protected]
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