The Elgar Companion to Austrian Economics is a major new reference work which highlights the common ground between all the branches of the school while demonstrating the breadth and diversity within it. The Companion reflects the many areas where Austrian economists have made contributions,...

This timely and important volume addresses the serious challenges faced by democracy in contemporary society. With contributions from some of the world’s most prestigious scholars of public choice and political science, this comprehensive collection presents a complete overview of the...

"Lord Layard recently suggested in a series of lectures at the LSE that economists should be concerned with developing policies to maximise human happiness. His bold resurrection of the Benthamite school invites the most forceful criticism that can be levelled against naÔve utilitarianism."...

"Institutions, customs, laws are often, and sometimes implausibly, credited with efficiency. They serve a good purpose and if they had not arisen, we would have invented them. The claim is reassuring, though it may be no more than a pious lie. The creation of the state by social contract, and...

Political philosophy relies on three alternative types of theory to explain social order. The first, is order anarchy, built on the system of spontaneous Humean conventions. They are equilibria, self-enforcing or enforced by the participants’ own contingent strategies and involve no central,...