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Free market economics has made many advances during the past thirty
years. These advances are due to the maturing of public choice
theory and empirical studies, along with a resurgence of interest
in Austrian economic themes like free banking, market process
entrepreneurship, and the critique of socialism and
interventionism. In addition, new avenues have opened in law and
economics and regulatory studies which favor free market ideas. The
purpose of this book is to introduce and summarize some of the
important advances in contemporary free market economics and policy
by introducing the key concepts of public choice, public policy,
Austrian economics, and law and economics. This volume is a
non-technical compendium of thought which incorporates long
quotations from important scholars in each field, ideal for
students wishing to survey these topics without having to read
dozens of academic articles and books. Also presented is new theory
regarding topics such as perverse incentives and allodial real
property policy. The second edition is significantly expanded,
including updated information and articles, new research in areas
such as family policy, new tables, and is easier to read with
improved organization.
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