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The Austro-Libertarian Point of View

Essays on Austrian Economics and Libertarianism

  • Book
  • © 2021


  • Shows an integrated view of the Austrian and libertarian perspective and their applications to several areas
  • The self-contained and independently structured chapters can be read individually according to their topics
  • Shows how Austrian economics and libertarianism are related, albeit the first is positive and the second normative

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About this book

This book covers several areas of economic theory and political philosophy from the perspective of Austrian Economics and libertarianism. As such, it deals with Epistemology and Methodology, Microeconomics, Macroeconomics, Labor Economics, International Economics, Political Philosophy, Law and Public Policy, all from the Austro-libertarian perspective.

Hence, this book offers an integrated view of libertarianism and Austrian economics in the light of recent debates in the areas of economic science and political philosophy. Moreover, it builds from the foundations of the Austrian approach (epistemology and methodology), while the latter material deals with its application to the individual from the microeconomic perspective, which in turn allows an exploration of subjects in macroeconomics. Additionally, this work applies Austro-libertarianism to law, politics, and public policy. Thus, it offers a unified view of the entire approach, in a logical progression, allowing thereaders to judge this perspective in full.

Futerman and Block say that their book is not a manual, which I suppose it is not.  But it is a collection of highly pertinent essays, from which you can understand what is mistaken in the orthodoxy of economics, law, and politics. The central term of art in Austrian economics is that phrase “human action.” It is the exercise of human will, not the blind bumping of one molecule against another or one organism against another, as in the physical sciences…

Futerman and Block distinguish Austrian economics as a scientific enterprise based on liberty of the will from “libertarianism” as an advocacy based on policies implied by such liberty. “Although Austrian economics is positive and libertarianism is normative,” they write, “this book shows how both are related; how each can support the other.” Indeed they do.

Deirdre N. McCloskey, PhD

UIC Distinguished Professor of Economics and ofHistory Emerita,

Professor of English Emerita,

Professor of Communication Emerita,

University of Illinois at Chicago

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Table of contents (10 chapters)


“For those interested in Austrian economics and radical libertarianism, it is worth reading Futerman and Block’s book to see the benefits and hazards of their attempted integration.” (Jason Lee Byas, The Independent Review, Vol. 27 (3), 2022-2023)

Authors and Affiliations

  • Department of Economics, University of the Latin American Educational Center, Rosario, Santa Fe, Argentina

    Alan G. Futerman

  • Harold E. Wirth Eminent Scholar Endowed Chair and Professor of Economics, College of Business, Loyola University New Orleans, New Orleans, USA

    Walter E. Block

About the authors

Walter E. Block is Harold E. Wirth Endowed Chair and Professor of Economics, College of Business, Loyola University New Orleans, and senior fellow at the Mises Institute. He earned his PhD in economics at Columbia University in 1972. He has taught at Rutgers, SUNY Stony Brook, Baruch CUNY, Holy Cross and the University of Central Arkansas. He is the author of more than 500 refereed articles in professional journals, two dozen books, and thousands of op eds. He lectures widely on college campuses, delivers seminars around the world and appears regularly on television and radio shows.  He is the Schlarbaum Laureate, Mises Institute, 2011; and has won the Loyola University Research Award (2005, 2008) and the Mises Institute’s Rothbard Medal of Freedom, 2005; and the Dux Academicus award, Loyola University, 2007.

Alan G. Futerman is Adjunct Professor of Institutional Economics at the University of the Latin American Educational Center (Rosario - Argentina). He has done research on economic theory from the perspective of the Austrian School of Economics, dealing with macro and microeconomics, as well as epistemology and the methodology of economics. He has contributed essays to journals such as International Journal of Finance & Economics, Journal of Financial Economic Policy, The Review of Austrian Economics, and lectured on economic subjects in congresses and seminars.

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