Money and Markets: Essays in Honor of Leland B. Yeager

Foundations of the market economyEdited by Mario J. Rizzo, New York University andLawrence H. White, University of Missouri at St. LouisA central theme in this series is the importance of understanding and assessing the marketeconomy from a perspective broader than the static economics of perfect competition andPareto optimality. Such a perspective sees markets as causal processes generated by thepreferences, expectations and beliefs of economic agents. The creative acts of entre preneurshipthat uncover new information about preferences, prices and technology are centralto these processes with respect to their ability to promote the discovery and use of knowledgein society.The market economy consists of a set of institutions that facilitate voluntary cooperationand exchange among individuals. These institutions include the legal and ethical frameworkas well as more narrowly “economic” patterns of social interaction. Thus the law, legalinstitutions and cultural and ethical norms, as well as ordinary business practices andmonetary phenomena, fall within the analytical domain of the economist.Other titles in the seriesThe Meaning of Market ProcessEssays in the development of modernAustrian economicsIsrael M. KirznerPrices and KnowledgeA market-process perspectiveEsteban F. ThomasKeynes’ General Theory of InterestA reconsiderationFiona C. MaclachlanLaissez-faire BankingKevin DowdExpectations and the Meaning ofInstitutionsEssays in economics by LudwigLachmannEdited by Don LavoiePerfect Competition and theTransformation of EconomicsFrank M. MachovecEntrepreneurship and theMarket ProcessAn enquiry into the growth ofknowledgeDavid HarperEconomics of Time and IgnoranceGerald O’Driscoll and Mario J. RizzoDynamics of the Mixed EconomyToward a theory of interventionismSanford IkedaNeoclassical MicroeconomicTheoryThe founding of Austrian visionA. M. Endres