Books

41dMpzMdueL._SY344_BO1,204,203,200_My most recent book is Organizing Entrepreneurial Judgment: A New Approach to the Firm (with Nicolai J. Foss, Cambridge University Press, 2012). [Cambridge] [Amazon] The book outlines and develops a “judgment-based view” of entrepreneurship that emphasizes action, uncertainty, and resources as the key elements of entrepreneurship theory and practice. Shaker Zahra calls it “a path breaking book” offering “rich and original insights that will undoubtedly revise long held views of entrepreneurship in organizations and how managers make judgments about entrepreneurial initiatives.” The book won the 2014 Foundation for Economic Education Best Book Prize. A Chinese translation is forthcoming from China Social Sciences Press, and a Polish translation is forthcoming from Fundacja Instytut Edukacji Ekonomicznej im. Ludwiga von Misesa.

Here are Foss and I discussing the book at the 2012 Austrian Economics Research Conference, and here is an interview about the book with sintetia.com. HansEconomics provided summaries of the key chapters. Our 2015 symposium in the Journal of Institutional Economics (1, 2, 3, 4) discusses the newest developments in the judgment-based approach. Here are book reviews in Economica, Organization StudiesInternational Small Business JournalPolicy, and International Entrepreneurship and Management Journal.


Capitalist and Entrepreneur_bookstoreIn 2010 I published The Capitalist and the Entrepreneur: Essays on Organizations and Markets (Mises Institute), a collection of my essays originally published from 1996 to 2009. [Mises] [Amazon] The chapters cover a variety of topics in the theory of the firm, entrepreneurship theory, the Austrian school of economics, and related issues. Henry Manne called it “a superb book,” adding that “[t]he storied entrepreneur is about to have a new chapter written in its intellectual history.”

Here’s a short video about the book. It has also been published in Portuguese (via Mises Brasil) and Chinese (via Shanghai University of Finance and Economics Press) editions. Here are some remarks about the translations and what they imply for the spread of the Austrian perspective around the world.


9781845427665Michael Sykuta and I edited the Elgar Companion to Transaction Cost Economics (Edward Elgar, 2010), a collection of original essays on transaction costs, property rights, and institutions written by leading scholars in economics, management, and law. [Elgar] [Amazon] Contributors include Nick Argyres, Mie Augier, Alexandra Benham, Lee Benham, Nicolai  Foss, Geoffrey Hodgson, Benjamin Klein, Joseph Mahoney, Claude Ménard, Steven Michael, Jackson Nickerson, Laura Poppo, Emmanuel Raynaud, Bruce Rayton, Saras Sarasvathy, Gordon Smith, Dean Williamson, Oliver Williamson, Joshua Wright, James Yen, and Tony Yu.

Scott Masten says: “Not too long ago it was possible to be familiar with all of the important works and latest developments in transaction cost economics. That that is no longer the case is a testament to the intellectual appeal and empirical success of the transaction cost approach. For newcomers, the entries in this volume, by some of TCE’s most knowledgeable and eloquent contributors, offer an excellent introduction to the issues, methods, discoveries, and debates in the field; for veterans, the volume provides a highly valuable resource for catching up on the newest research.”


In 2002 Foss and I published Entrepreneurship and the Firm: Austrian Perspectives on Economic Organization (Edward Elgar), a collection of essays on Austrian economics and the theory of the firm. [Elgar] [Amazon]

The book is based on a conference we organized in 1998 at the Copenhagen Business School. Contributors include Jerry Ellig, Kirsten Foss, Pierre Garrouste, Woflgang Gick, Shelby Hunt, Stavros Ioannides, Sandra Klein, Richard Langlois, Peter Lewin, Brian Loasby, Steven Phelan, Marti Vihanto, and ourselves.


imagesI edited The Fortunes of Liberalism: Essays on Austrian Economics and the Ideal of Freedom, volume 4 of The Collected Works of F. A. Hayek (University of Chicago Press and Routledge, 1992). [Chicago] [Routledge] [Amazon] The volume contains Hayek’s biographical essays on important figures such as Carl Menger, Ludwig von Mises, Joseph Schumpeter, and Ernst Mach, as well as historical essays on the rediscovery of freedom (i.e., liberalism in the European sense) in Europe after World War II.

I worked under the supervision of Founding Series Editor W. W. Bartley, III, and his successor Stephen Kresge. The series is now edited by Bruce Caldwell.