In light of Wittman (<CitationRef CitationID="CR86">1995</CitationRef>) and Caplan (<CitationRef CitationID="CR30">2007</CitationRef>) this paper contends that the rational-choice approach to political science (“Public Choice theory”) has reached a dead end. By critiquing their treatment of rationality, knowledge assumptions, and views of the democratic process, an alternative is...</citationref></citationref>

This paper applies Israel Kirzner’s theory of entrepreneurship and the Austrian theory of capital to the theory of the firm. In particular, it explores why some firms are better able to react to exogenous change than others, especially when that change is negative. The argument is that firms...

'Austrian Economics: The Next Generation' brings together emerging and established scholars to explore the insights that can be gleaned from applying Austrian economics to a range of different topics. Spanning a variety of related disciplines, from history to politics to public policy, this...

This book brings together emerging and established scholars to explore the insights that can be gleaned from applying Austrian economics to a range of different topics and a variety of related disciplines, from history to politics to public policy.

This chapter is the editor’s introduction to Austrian Economics: The Next Generation, which includes a brief description of the workshop that produced the papers and short summaries of each contribution organized by sub-topic.