Virginia Political Economy: A View from Vienna

Market Process (Fall 1987) 5(2): 7-15

9 Pages Posted: 6 Sep 2015  

Peter J. Boettke

George Mason University - Department of Economics

Date Written: September 4, 2015

Abstract

The task of the economist, from an Austrian perspective, is twofold: (1) to render economic phenomena intelligible in terms of purposive human action, and (2) to trace out the unintended consequences, both desirable and undesirable, of human actions. When analyzing political exchange, the economist's task is not altered. Austrian economists have much to learn from the work of the Virginia School of Political Economy as exemplified by Buchanan. By merging public choice insights with Austrian analysis - a framework in which Buchanan fits quite comfortably - Austrians can improve their understanding of political economy and buttress their case for individual liberty.

Keywords: Austrian Economics; Public Choice; Virginia Political Economy

JEL Classification: B3; B53; P16

Suggested Citation

Boettke, Peter J., Virginia Political Economy: A View from Vienna (September 4, 2015). Market Process (Fall 1987) 5(2): 7-15. Available at SSRN: https://ssrn.com/abstract=2656117

Peter J. Boettke (Contact Author)

George Mason University - Department of Economics ( email )

4400 University Drive
Fairfax, VA 22030
United States
703-993-1149 (Phone)
703-993-1133 (Fax)

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