World of Business (BADM 560)

Reading List

FOUNDATIONAL TOOLS OF ANALYSIS

Section 1: Review of Neoclassical Economics

Required:

Hazlitt, Henry, Economics in One Lesson. Chapters 1-3, pages 15-30.

Heyne, Paul, Peter Boettke, and David Prychitko, 2002. The Economic Way of Thinking (10^th Ed.) New York: Prentice Hall. Chapter 1-6.

Williams, Walter E., 1999. “Economics 101: January 30, 1996”, in More Liberty Means Less Government: Our Founders Knew This Well. (p. 224-226).

Williams, Walter E., 1999. “Economics 101: May 21, 1997”, in More Liberty Means Less Government: Our Founders Knew This Well.  (p. 244-246).

Section 2: Market Process Approach to Economics

Required:

Buchanan, James. 1999. Cost and Choice. Indianapolis: Liberty Fund. 37-48.

Hayek, F.A., 1948/1980. “Individualism: True and False” in Individualism and Economic Order. Chicago: University of Chicago Press. (p. 1-32).

Hayek, F.A., “Economics and Knowledge” in Individualism and Economic Order.

Hayek, F.A., “The Use of Knowledge in Society” in Individualism and Economic Order.

Hayek, F.A., 1948/1980. “The Meaning of Competition”, in Individualism and Economic Order. Chicago, University of Chicago Press. (92-106).

Hayek, F.A. 1984. “Competition as a Discovery Procedure,” in The Essence of Hayek, Stanford, CA: Hoover Institute Press, pages 254-265.

O’Driscoll, Gerald and Mario Rizzo. 1996. The Economics of Time and Ignorance. New York: Routledge. Chapter 2-7. 

Section 3: Game Theory

Required:

Baird, Douglas, Robert Gertner, and Randal Picker. 1998. Game Theory and the Law.  Cambridge: Harvard University Press. Chapter 1 and 2.

APPLICATION OF TOOLS

Section 4: Legal History of Property Rights and Regulation

Required:

Hall, Kermit, William Wiecek, and Paul Finkelman. 1996. American Legal History: Cases and Materials. New York: OUP. (p. 66-70; 80-81; 107-108; 340-342; 370-372; 374-377; 383-384; 388-392; 295-398; 474-490.

            Reading list from Hall et al.

            The Declaration of Independence

            The Virginia Declaration of Rights

            The Articles of Confederation

            Calder v. Bull Justice Chase’s decision

            Excerpt from A Treatise on the Constitutional Limits which Rest upon the

Legislative Powerf of the States of the American Union by Thomas M. Cooley

            The Slaughterhouse Cases Bradley’s Dissent

            In re: Jacobs

            Allgeyer v. Louisiana

            Lochner v. New York

            Ives v. South Buffalo Railway Co.

            Schechter v. United States

            United States v. Butler

            Fireside Chat on the “Court Packing” Bill

            West Coast Hotel v. Parrish

Muris, Timothy. 1999. “In Defense of the Old Order” in The Fall and Rise of Freedom of Contract edited by F. H. Buckley. Durham: Duke University Press. (p 93-103).

Alexander, Gregory. 1999. “The Limits of Freedom of Contract in the Age of Laissez-Faire Constitutionalism” in The Fall and Rise of Freedom of Contract edited by F. H. Buckley. Durham: Duke University Press. (p 103-118).

Sunstein, Cass. 1993. The Partial Constitution. Cambridge: Harvard. (p. 51-62).

Section 5: Socialist Calculation Debate

Required:

Boettke, Peter. 2001. Calculation and Coordination. New York: Routledge. (p. 29-46).

Vaughn, Karen I., 1994. “The Socialist Calculation Debate” in The Elgar Companion to Austrian Economics, edited by Peter J. Boettke. Northampton, MA: Edward Elgar. (p. 478-484.

Section 6: Public Choice

Required:

Tullock, Gordon, 2003. Government Failure: A Primer in Public Choice, Arlington, VA: Cato Institute.

McChesney, Fred. 2001. “ Rent seeking and rent extraction” in The Elgar Companion to Public Choice edited by William F. Shughart and Laura Razzolini (p. 379-95).

Lee, Dwight and Jeff Clark. “Is trust in government compatible with trustworthy government?” in The Elgar Companion to Public Choice edited by William F. Shughart and Laura Razzolini (p. 479-96).

Glazer, Amihai and Lawrence Rothenberg. 2001.  Why Government Succeeds and Why it Fails. Cambridge: Harvard. (p. 1-19; 72-95).

Section 7: Interventionism

Required:

Kirzner, Israel M., 1985 “The Perils of Regulation: A Market-Process Approach” in Discovery and the Capitalist Process. Chicago: University of Chicago Press. (p. 1-25).

Friedman, Milton and Rose Friedman. 1980. Free to Choose. New York: HBJ. (p. 38-69; 228-247).

Hazlitt, Henry, Economics in One Lesson.  Chapters 15, 7, 18, and 19.

Section 8:  Market Generated Self-Regulation

Required:

Mises, Ludwig von, 1980. “Profit and Loss,” in Planning For Freedom, South Holland, IL: Libertarian Press, pages 108-150.

Friedman, Milton and Rose Friedman. 1980. Free to Choose. New York: HBJ. (p. 189-227).

Klein, Daniel. 1997. “Knowledge, Reputation, and Trust” in Reputation edited by Daniel B. Klein.  Michigan: University of Michigan Press. (p.1-14).

Brearly, Harry. 1923. “A Symbol of Safety: The Origins of Underwriters’ Laboratories” from A Symbol of Safety: An Interpretive Study of a Notable Institution Organized for Service- Not Profit. NY: Doubleday.

Klein, Daniel and Jeremy Shearmur. 1997. “Good Conduct in the Great Society: Adam Smith and the Role of Reputation” in Reputation edited by Daniel B. Klein.  Michigan: University of Michigan Press. (p.29-45).

Klein, Daniel. 1997. “Trust for Hire: Voluntary Remedies for Quality and Safety” in Reputation edited by Daniel B. Klein.  Michigan: University of Michigan Press. (p.97- 133).

Section 9:  The Road to Serfdom Still Relevant After 60 Years

Required:

Boettke, Peter. 2001. Calculation and Coordination. New York: Routledge. (p. 47-65).

Hayek, F.A. 1994, The Road to Serfdom. Chicago: UCP.