Society for the Development of Austrian Economics


Best Books, Best Articles, & Graduate Student Essays

SDAE Prize for the Best Book in Austrian Economics 

(Known as the Smith Center Prize for the Best Book in Austrian Economics through 2007 and then as the FEE Prize for the Best Book in Austrian Economics through 2015)

2017: Erwin Dekker (2016), The Viennese Students of Civilization: The Meaning and Context of Austrian Economics Reconsidered (Cambridge University Press)

2016: Deirdre Nansen McCloskey (2016), Bourgeois Equality: How Ideas, Not Capital or Institutions, Enriched the World (University of Chicago Press)

2015: Edward Peter Stringham (2015), Private Governance: Creating Order in Economic and Social Life (Oxford University Press)

2014: Nicolai J. Foss and G. Peter Klein (2012), Organizing Entrepreneurial Judgment: A New Approach to the Firm (Cambridge University Press)

2013: Lawrence H. White (2012), The Clash of Economic Ideas: The Great Policy Debates and Experiments of the Last Hundred Years (Cambridge University Press)

2012: Peter J. Boettke (2012), Living Economics: Yesterday, Today, and Tomorrow (Independent Institute and Universidad Francisco Marroquín)

2011: Emily Chamlee-Wright (2010), The Cultural and Political Economy of Recovery: Social Learning in a Post-Disaster Environment (Routledge) and George Selgin (2011), Good Money: Birmingham Button Makers, the Royal Mint, and the Beginnings of Modern Coinage, 1775–1821 (Independent Institute)

2010: Peter T. Leeson (2009), The Invisible Hook: The Hidden Economics of Pirates (Princeton University Press)

2009: Richard E. Wagner (2007), Fiscal Sociology and the Theory of Public Finance: An Exploratory Essay (Edward Elgar)

2008: Christopher J. Coyne (2008), After War: The Political Economy of Exporting Democracy (Stanford University Press)

2007: Theodore A. Burczak (2006), Socialism after Hayek (University of Michigan Press)

2005: Tom J. DiLorenzo, How Capitalism Saved America: The Untold History of Our Country, from the Pilgrims to the Present (Crown Forum, 2005)

2004: Bruce Caldwell (2003), Hayek's Challenge: An Intellectual Biography of F.A. Hayek (University of Chicago Press)

2002: Frederic E. Sautet (2000), An Entrepreneurial Theory of the Firm (Routledge)

2001: Roger W. Garrison (2001), Time and Money: The Macroeconomics of Capital Structure (Routledge) and Steven Horwitz (2000), Microfoundations and Macroeconomics: An Austrian Perspective (Routledge)

2000: Brian Loasby (1999), Knowledge, Institutions and Evolution in Economics (Routledge)

1999: Peter Lewin (1999), Capital in Disequilibrium: The role of capital in a changing world (Routledge)

1998: David A. Harper (1996), Entrepreneurship and the Market Process: An Inquiry into the Growth of Knowledge (Routledge) 

1997: Frank M. Machovec (1995), Perfect Competition and the Transformation of Economics (Routledge)


SDAE Prize for the Best Article in Austrian Economics

(Known as the Smith Center Prize for the Best Article in Austrian Economics through 2006 and then as the FEE Prize for the Best Article in Austrian Economics through 2015)

2017: Adam Martin (2015), "Degenerate Cosmopolitanism," Social Philosophy and Policy, 32(1): 74-100.

2016: Paul Lewis (2016), "The Emergence of ‘Emergence’ in the Work of F. A. Hayek: A Historical Analysis," History of Political Economy, 48(1): 111-150.

2015: Bruce Caldwell and Leonidas Montes (2015), "Friedrich Hayek and his visits to Chile," The Review of Austrian Economics, 28(3): 261-309.

2014: Alexander William Salter (2014), "Is There a Self-Enforcing Monetary Constitution?" Constitutional Political Economy, 25(3): 280-300. 

2013: David Skarbek (2012), "Prison Gangs, Norms, and Organizations," Journal of Economic Behavior & Organization, 82(1): 96-109. 

2012: Edward Peter Stringham and Todd J. Zywicki (2011), "Hayekian Anarchism," Journal of Economic Behavior & Organization, 78(3): 290-301.

2011: David Prychitko (2010), "Competing explanations of the Minsky moment: The financial instability hypothesis in light of Austrian theory," The Review of Austrian Economics, 23(3): 199-221.

2010: Lawrence H. White (2008), "Did Hayek and Robbins Deepen the Great Depression?" Journal of Money, Credit, and Banking, 40(4): 751-768.  

2009: Virgil Henry Storr (2008), "The Market as Social Space: On the Meaningful Extraeconomic Conversations that Can Occur in Markets," The Review of Austrian Economics, 21(2-3): 135-150. 

2008: Peter T. Leeson (2007), "An-arrgh-chy: The Law and Economics of Pirate Organization," Journal of Political Economy, 115(6): 1049-1094.

2007: Benjamin Powell (2005), "State Development Planning: Did it Create an East Asian Miracle?" The Review of Austrian Economics, 18(3-4): 305-323.

2006: Pierre Desrochers (2004), "Industrial symbiosis: the case for market coordination," Journal of Cleaner Production, 12(8-10): 1099-1110.

2003: Edward Peter Stringham (2003), "The extralegal development of securities markets in seventeenth-century Amsterdam," The Quarterly Review of Economics and Finance, 43(2): 321-344.  

2002: Anthony M. Carilli and Gregory M. Dempster (2001), "Expectations in Austrian Business Cycle Theory: 
An Application of the Prisoner's Dilemma,"
 The Review of Austrian Economics, 14(4): 319-330.

2000: Daniel B. Klein (1999), "Discovery and the Deepself," The Review of Austrian Economics, 11(1-2): 47-76.

1999: Peter J. Boettke (1997), "Where Did Economics Go Wrong: Modern Economics as a Flight From Reality," Critical Review, 11(1): 11-64.

1998: Bruce Caldwell (1997), "Hayek and Socialism," Journal of Economic Literature, 35(4): 1856-1890.

1997: Israel M. Kirzner (1997), "Entrepreneurial Discovery and the Competitive Market Process: An Austrian Approach," Journal of Economic Literature, 35(1): 60-85.

1996: George A. Selgin and Lawrence H. White (1994), "How Would the Invisible Hand Handle Money?" Journal of Economic Literature, 32(4): 1718-1749.


Don Lavoie Memorial Graduate Student Essay Competition Winners


  • Malte Dold (University of Freiburg), "Back to Buchanan?  Explorations of Welfare and Subjectivism in Behavioral Economics"
  • Erik W. Matson (George Mason University), "Hume’s Way of Reasonableness in Epistemology, in Politics, and in Political Economy"
  • Paola Suarez (George Mason University), "Child-Bride Marriage and Female Welfare



  • Stefanie Haeffele (George Mason University), "The Political Economy of Nonprofit Enterprises: Lessons from a Debate in Austrian Economics"
  • Trent MacDonald (RMIT University, Australia), "Spontaneous order in the formation of non-territorial political jurisdictions"
  • Audrey Redford (Texas Tech University), "Don't Eat the Brown Acid: Induced 'Malnovation' in Drug Markets" (Published in 2017 in The Review of Austrian Economics, 30(2): 215-233)





  • Jesper Juul Andersen (Aarhus University, Denmark), "The Charity Calculation Problem and Non-Profit Entrepreneurship"
  • G.P. Manish (Suffolk University), "Marginal Liberalization and Stagnant Living Standards: India in the 1980's"
  • Nicholas Snow (George Mason University), "Rum Row and the Plunder Problem"




  • David Howden (Universidad Rey Juan Carlos, Spain), "Uncertainty and Decision-Making: Toward a Tractable Framework"
  • Adam Martin (George Mason University), "Critical Realism and the Austrian Paradox" (Published in 2009 in Cambridge Journal of Economics, 33(3): 517-530)
  • Emily Skarbek (nee Schaeffer) (George Mason University), "Mixed Income Development Housing: What's Left in Neighborhood Economic Planning"




  • Art Carden (Washington University, St. Louis), "Inputs and Institutions as Conservative Elements" (Published in 2009 in The Review of Austrian Economics, 22(1): 1-19)
  • Giandomenica Becchio (University of Turin, Italy), "The Economic Theory of Wiener Kreis and Mathematische Kolloquium. The Complex Role of Karl Menger"
  • Stephen C. Miller (George Mason University), "Education and Heuristics: A Model of Market Learning"