This paper examines Hayek's constitutional theory of the liberal state. Hayek argued powerfully that no central planner has sufficient knowledge to run an economy, and that no one has sufficient...

Accepting the view that beliefs about the market determine the policies and institutions of economic freedom, this paper considers the cross-country consequences of the fact that these beliefs are...

Richard E. Wagner has published a multidisciplinary collection of fifty essays written by different scholars in the areas of James M. Buchanan’s wide-ranging work. This volume is so broad in scope,...

The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1986 was awarded to James M. Buchanan Jr. "for his development of the contractual and constitutional bases for the theory of...

In this short paper, first published in 1976, Nobel Laureate Friedrich von Hayek suggests that inflation can be stopped by introducing competition in currency. The notion that it is a proper function...

In this short classic, Nobel-Prize-winning Austrian economist, F. A. Hayek, explains why the political institutions in the Western world necessarily produce a progressive expansion of governmental...

The government monopoly of money must be abolished to stop the recurring bouts of acute inflation and deflation that have become accentuated during the last 60 years. Abolition is also the cure for...

In this short classic, Friedrich von Hayek argues that our thinking is governed by language which reflects an earlier mode of thought. Important analytical problems are in large measure obscured by...

In The Road to Serfdom F. A. Hayek set out the danger posed to freedom by attempts to apply the principles of wartime economic and social planning to the problems of peacetime. Hayek argued that the...

Summer Special Offer. Normal Price £18.00, Special Price £15.00 and FREE UK P&P A hugely successful title in hardback, this paperback edition takes Hayek’s work to a wider audience. Friedrich A....

“Butler has written an admirable and authoritative introduction to Adam Smith, the man and his thinking. This is the best short introduction to him in print.” Professor Gavin Kennedy Despite his...

After years of going from strength to strength, socialists in both Britain and the US have been going through a rough patch lately. For all their immense popularity on social media and university...

All around the world, anti-capitalists are currently united in the hope that the crisis unleashed by the coronavirus could finally herald the long-awaited end of capitalism. Whether in the United...

Periods of economic crisis are a breeding ground for all sorts of “populist” ideas, often ones that have been discarded in the past due to their dire practical implications. During the turbulent...

The Humboldt University, located in East Berlin, was once the largest university of the German Democratic Republic, and one of the Meccas of “Scientific Socialism”. And that was only fair. It was,...

We don’t know what the future holds, but we still need to make far reaching decisions.  Unlike F. A. Hayek, who said the he preferred true but imperfect knowledge to a pretence of exact knowledge...

Socialists are fond of modifiers these days. “Democratic Socialism”, “21st Century Socialism”, “Millennial Socialism”, and, most absurd of all, “Libertarian Socialism” and “Libertarian Communism”.  ...

At most universities – and above all in their humanities faculties – capitalism is a dirty word. It has very few supporters and many vehement critics. But why are so many intellectuals offended by...

Dominic Cummings is a funny chap. I admire his iconoclasm, if not his dress sense. The ‘Kevin-the sulky-teenager’ schtick – has anyone ever seen him smile? – amuses. But is he going about his...

Economist and inequality guru Thomas Piketty, who advised the former French Prime Minister Francois Hollande on the introduction of his 75% supertax on millionaires, has repeatedly expressed his...

In February 2019, the Economist ran an edition with the cover title The Rise of Millennial Socialism, which was dedicated to the resurgence of socialism in the UK and US. “When the Berlin Wall fell...

Darren Grimes, Digital Manager at the IEA, is joined by Professor Bryan Caplan, an American economist and author, who is currently sitting on the New York Times Best Sellers list with his latest book...

What exactly is classical liberalism? What do liberals believe? What are the key social, political and economic issues they have debated and thought about? What does it mean to be a “liberal thinke...

SCHOOL OF THOUGHT – 101 Great Liberal Thinkers profiles the lives and ideas of some of the leading thinkers on individual liberty – from ancient times to the present day. Award-winning author Eamonn...

You can’t escape it; capitalism has a bad rap. Last night, thousands of anti-capitalist protestors took to the streets in capital cities across the world. Wearing V for Vendetta-inspired Guy Fawkes...

On 30 September, the Institute of Economic Affairs and the Taxpayers’ Alliance organised a balloon debate entitled Socialism: Future or failure? at the 2019 Conservative Party Conference, as part of...

When I was a PhD student in the early 1990s, Francis Fukuyama published The End of History and the Last Man, claiming that we had reached “the end point of mankind’s ideological evolution and the...

If you are a socialist, and you are toying with the idea of writing a book – now is the time to do so. The “Millennial Socialism” craze has led to a proliferation of publications which, in one way or...