Walter Block

We are all familiar with the process of discounting the future.

James Clark and James Keeler

A recent set of articles (see Michael Bordo 1986; Roger Garrison 1986; Herschel Grossman 1986; Gottfried Haberler 1986; Axel Leijonhufvud 1986 and Leland B. Yeager, 1986) reviews the Austrian theory of the business cycle in comparison to other theories.

Professor Gary B.

Thomas Sowell has achieved an enviable reputation in many different areas of economics. His many works on the economics of immigration, culminating in Ethnic America, have won him an eminent place in this field. His Knowledge and Decisions applies in a comprehensive way the insights of Friedrich A. Hayek to a vast number of social phenomena. As if this were not enough, Sowell has also published widely in the history of economic thought.

David Conway’s book supplies what many have been seeking for a long time—a reliable introductory study of Marxism which can be recommended without reservation to students. But he has also accomplished more. Even experienced scholars will find his discussion insightful and original.

Coffee is of global importance, ranking second to petroleum in world commodity trade. Moreover, coffee is of particular importance as a major export commodity in many low-income countries in Latin America, Africa, and Asia. The primary purpose of The International Political Economy of Coffee is to integrate political science and economics in analyzing the five-fold increase in world coffee prices over an 18-month period in the mid-1970s.

Man, Economy, and Liberty, which grew out of a conference celebrating Murray Rothbard’s 60th birthday in 1986, is a collection of essays by 30 contributors—economists, philosophers, historians, political scientists, sociologists, and long-time friends and companions—honoring one of the world’s foremost living champions of liberty.

Robert Higgs*

Economists, public choice analysts, political scientists, and other scholars, especially during the past 10 to 15 years, have made many studies of the growth of government. As the literature has grown, a number of conventions have become established with respect to concepts, measures, assumptions and modes of analysis. Certain contributions have been viewed as paradigmatic and hence have served as models for subsequent contributors. No analytical consensus has emerged.

Bruce L. Benson

The European conquest and absorption of native American Indian groups obviously produced tremendous changes in the way Indians live and interact with one another. One very important source of change in Indian life was the changes in the rules and institutions of Indian law. Few Indian groups had any sort of strong central legal authority before Europeans began to exert various types of influence on the evolution of Indian law.

A. M. Endres

Doctrinal investigation has now established that fundamental theoretical points of divergence separated the founder of the Austrian economics tradition, Carl Menger, and another leading Austrian economist, Eugen von Böhm-Bawerk. Böhm-Bawerk’s capital and interest theory, in particular, stressed a degree of classical materiality and adopted a level of aggregation sharply in conflict with the basis of Menger’s contribution (Endres 1987). As Streissler and Weber (1973, p.