December, 2018

The Market Process

Essays in Contemporary Austrian Economics
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The Market Process presents a series of important and innovative articles written by economists of the Austrian school. Covering the gamut of economic issues, including equilibrium theory, free banking, public choice, and the problems of contemporary social reform, the book is an ideal introduction to the diversity of contemporary Austrian economics and its innovative trajectory of research in the late 20th century.

Drawing upon essays published in the journal Market Process during the 1980s, this book reflects an extended dialogue over the value and limitations of Austrian economics. It makes available to a wider audience contributions by some of the leading figures in the field. At the cutting edge of interdisciplinary research, it incorporates the latest developments in areas overlooked by neoclassical economists, including process analysis, methodological subjectivism, and phenomenological hermeneutics.

This book should be of interest to all those who seek an alternative to formal, neoclassical economics, as well as other researchers in the social sciences who study exchange processes. In addition, it will be of general interest to Austrian and public choice economists as well as historians of economic thought.



“The scholarly publication [the journal] Market Process played the central role in the transformation of the market process school from a hesitant subset of traditional Austrian economics into a bold new research program. . . . The articles included here are among the best of contributions the Austrian school has ever made and deserve to be given a wider readership.”

— From the foreword by Don Lavoie