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These thirty-three essays, many of them previously unpublished, illustrate the broad range of Warren Nutter's thought. There are essays on the Soviet economy and international relations as well as essays exploring the economic institutions that support a society of free people. One finds in these essays a man of intellect and judgment ever ready to look at the evidence and ever willing to admit imperfections of even the best human institutions. He defends capitalism not because it is perfect but because for this imperfect world it is superior to the attainable alternatives. G. Warren Nutter (1923-1979) taught economics at the University of Virginia. Paul Craig Roberts is a distinguished fellow at the Cato Institute.

The author explores what has been perhaps the central controversy in modern economics from Adam Smith to today. He traces the theory of market failure from the 1840s through the 1950s and subsequent attacks on this view by the Chicago and Virginia schools.

“It is the bitter lesson of history that society cannot rely on the scruples of a powerful ruler to restrain him from exercising his power over the lives of his subjects. The only safeguard of liberty is the restraint of power itself.”~G. Warren Nutter Economist G. Warren Nutter provided one of the lone dissenting voices to challenge what had become a matter of conventional wisdom among Sovietologists. Whereas others perceived vibrancy and vitality in the socialist society’s industrial growth, Nutter recognized its long-term economic decline concealed behind a politically crafted veneer of propaganda about socialist industrial prowess. From 1956 until its first publication in 1969, he labored on providing a statistical corrective that painted a picture of a society gradually succumbing to the weight of its own central planning in The Strange World of Ivan Ivanov. Though generally well-received in the Cold War environment of its publication, Ivan Ivanov, drifted from memory along with its own Soviet subject matter. In this new edition, the text is accessible again—both as a record of the daily personal hardships experienced under an actual Marxian-socialist state and a warning for a time when socialism’s reputation has become detached from its own track record. The poverty, fear, and coerced subordination of Ivan Ivanov’s life were not aberrations of a socialist revolution gone astray—they were the entirely predictable results of that same socialist system. And as its human toll stretches from the Eastern Bloc to China to Cuba to Venezuela, they continue to repeat with alarming certainty whenever and wherever socialism is attempted. The American Institute for Economic Research in Great Barrington, Massachusetts, was founded in 1933 as the first independent voice for sound economics in the United States. Today it publishes ongoing research, hosts educational programs, publishes books, sponsors interns and scholars, and is home to the world-renowned Bastiat Society and the highly respected Sound Money Project. The American Institute for Economic Research is a 501c3 public charity.

This is an expanded second edition of Nicholas Mercuro and Steven Medema's influential book Economics and the Law, whose publication in 1998 marked the most comprehensive overview of the various schools of thought in the burgeoning field of Law and Economics. Each of these competing yet complementary traditions has both redefined the study of law and exposed the key economic implications of the legal environment. The book remains true to the scope and aims of the first edition, but also takes account of the field's evolution. At the book's core is an expanded discussion of the Chicago school, Public Choice Theory, Institutional Law and Economics, and New Institutional Economics. A new chapter explores the Law and Economics literature on social norms, today an integral part of each of the schools of thought. The chapter on the New Haven and Modern Civic Republican approaches has likewise been expanded. These chapters are complemented by a discussion of the Austrian school of Law and Economics. Each chapter now includes an "At Work" section presenting applications of that particular school of thought. By providing readers with a concise, noncritical description of the broad contours of each school, this book illuminates the fundamental insights of a field with important implications not only for economics and the law, but also for political science, philosophy, public administration, and sociology.

What is freedom? How is freedom related to justice, law, property, peace, and prosperity? Tom Palmer has spent a lifetime-as a scholar, teacher, journalist, and activist-asking and answering these questions. Since its publication in 2009, Realizing Freedom has been the recipient of wide acclaim, both in the United States and around the world. Now, this expanded edition adds even greater depth and dimension to the book, with newly added essays that confirm Palmer's role as one of liberty's most articulate advocates. A tireless educator, Palmer has traveled the world to bring the message of freedom to people on every continent. At home, he has been an incisive commentator on current affairs as well as an original and innovative thinker in political philosophy. The essays in this volume are drawn from his decades of work on the theory of justice, multiculturalism, democracy and limited government, globalization, the law and economics of patents and copyrights, among many other topics, and reflect the many levels on which Palmer has promoted individual liberty.