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Murray Rothbard's For a New Liberty, originally published in 1973, remains one of the most significant books on libertarianism, in large part because he explains how market institutions can replace [...]

Towards an Economics of Natural Equals: A Documentary History of the Early Virginia School By David M. Levy and Sandra J. Peart New York: Cambridge University Press, 2020. Pp. xvi, [...]

Butos and McQuade build on the ideas of Hayek (1952) to relate the sensory order of individuals to social orders, including markets, science, and government. Hayek’s conception of the sensory order is consistent with a sprawling research program on the nature of consciousness. The nature of conscious choice has significant implications for the organization of social institutions. While institutions are emergent orders, they emerge within a superstructure of institutional constraints that are imposed from the top down. The recognition that they are imposed by the conscious choices of self-aware individuals has substantial implications for the nature of social interaction. [ABSTRACT FROM AUTHOR]

Sustainability means that the current use of resources does not compromise the well-being of future generations. Ever since Malthus (1798) hypothesized that population tends to grow faster than the growth of resources to support the population, people have claimed that current resource use is unsustainable, so future generations will be materially worse off than those in the present, yet for more than two centuries this has not been the case. The reason is that markets, and market prices, act to conserve scarce resources, and in market economies, entrepreneurs have an incentive to discover more efficient ways to use resources. The claim that twenty-first-century capitalist economies are not sustainable is not supported by the evidence. [ABSTRACT FROM AUTHOR]