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: TBD

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: TBD

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

2017: TBD


  • Rosolino Candela (George Mason University), "The Political Economy of Italian Unification in Sicily: Insecurity of Property Rights and the Role of Land Reform"
  • Raymond March (Texas Tech University), "Skin in the Game: Comparing The Private and Public Regulation of Isotretinoin"
  • Raymond Niles (George Mason University), "The unresolved problem of gratuitous credit in Austrian banking theory"


  • 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"


  • Mathieu Bédard (Aix-Marseille Université, France), "Robust Political Economy and the Insolvency Resolution of Large US Non-Bank Financial Institutions"
  • Abigail Hall (George Mason University), "Public Interest, Public Choice, and the Expansion of Unmanned Aerial Vehicles"
  • Pablo Paniagua (King's College London, United Kingdom), "Robust Political Economy: An Institutional Alternative Against Monetary Disequilibrium and Market Discoordination"


  • Hendrik Hagedorn (University of Münster, Germany), "A Model of Austrian Economics"
  • Lotta Moberg (George Mason University), "The Political Economy of Special Economic Zones"
  • Alexander William Salter (George Mason University), "Robust Political Economy and the Lender of Last Resort"


  • Nicolas Cachanosky (Suffolk University), "The International Effects of Monetary Policy on the Capital Structure of Production: The Cases of Colombia and Panama (2002-2007)"
  • Thomas Duncan (George Mason University), "The Overlooked Costs of the Permanent War Economy: A Market Process Approach"
  • Jayme S. Lemke (George Mason University), "Jurisdictional Competition and Married Women’s Property Rights"


  • 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"


  • Malavika Nair (Suffolk University), "Caste as Self Enforcement: A Case Study from Nineteenth Century India" 
  • Daniel Smith (George Mason University), "Leveraging Reputation: Guidaticums in Medieval Spain"
  • Jong Chul Won (University of Missouri, Columbia), "The Emergence, Limit, and Distortion of the Firm: The Entrepreneurship Approach"


  • Arash Molavi Vassei (University of Hohenheim, Germany), "Static Tools for Dynamic Analysis: Ludwig von Mises’s Business Cycle Theory"
  • Chad Seagren (George Mason University), "Agent Based Modeling and Austrian Analysis of Accident Law"
  • David Skarbek (George Mason University), "Self-Governance in San Pedro Prison"


  • 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"
  • Emily Skarbek (nee Schaeffer) (George Mason University), "Mixed Income Development Housing: What's Left in Neighborhood Economic Planning"


  • Daniel D'Amico (George Mason University), "The  Use of Knowledge in the Criminal Justice System"
  • Claudia Williamson (West Virginia University), "Securing  Private Property:  The Relative Importance of Formal versus Informal Institutions"


  • Eugene Callahan (Cardiff University, United Kingdom), "Reconciling Weber and Mises on Understanding Human Action"
  • Anthony Evans (George Mason University), "A Nomos Model of Social Change: Where Human Action Meets Cultural Theory"
  • Huei-chun Su (University of Exeter, United Kingdom), "Social Justice and Liberty: The Philosophical Foundations of Mill's and Hayek's Theory of Liberty"


  • Art Carden (Washington University, St. Louis), "Inputs and Institutions as Conservative Elements"
  • 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"


  • Christopher J. Coyne (George Mason University), "The Institutional Prerequisites for Post-Conflict Reconstruction"
  • Peter T. Leeson (George Mason University), "Trading with Bandits"


  • Scott Beaulier (George Mason University), "Explaining Botswana's Success: The Critical Role of Post-Colonial Policy"
  • Pauline Dixon (Newcastle University, United Kingdom), "Regulation of Private Schooling for Low-Income Families in India: An Austrian Economic Approach"
  • Gregor Zwirn (University of Cambridge, United Kingdom), "Methodological Individualism or Methodological Atomism: The Case of Friedrich Hayek"


  • Alexandre Padilla (Universite de Droit, D'Economie et des Sciences d'Aix-Marseille III, France) "Can Agency Theory Justify the Regulation of Insider Trading?"