Modern Libertarianism: A Brief History of Classical Liberalism in the United States

In this lively new history, Brian Doherty provides a concise, thorough account of the intellectual roots of the American libertarian movement, with helpful summaries of key figures, institutions, and events. Modern Libertarianism effortlessly combines historical insights and intellectual profiles of important figures—including Ludwig von Mises, F. A. Hayek, Ayn Rand, Murray Rothbard, Milton Friedman, and Barry Goldwater—and key institutions such as the Foundation of Economic Education and the Mont Pelerin Society.

A superb introduction for the newcomer, yet rich and varied enough for those steeped in the libertarian tradition, Modern Libertarianism is a tribute to those who advocated for the cause of political liberty in America in the 20th century.

Brian Doherty is a senior editor at Reason and author of five books including This is Burning Man, Radicals for Capitalism: A Freewheeling History of the Modern American Libertarian Movement, and Gun Control on Trial. He is an award-winning journalist who has covered libertarian and conservative movement history, gun policy and legal history, tech innovation, environmental and trade policy, and cutting-edge American art movements.

Introduction: The War on Prices, by Ryan Bourne

PART 1: INFLATION
Inflation: An Introduction, by Ryan Bourne
1. A Rising Product Price Doesn't Cause Inflation, by Pierre Lemieux
2. There Is No Such Thing as a Wage-Price Spiral, by Bryan P. Cutsinger
3. Greed and Corporate Concentration Have Not Caused Inflation, by Brian C. Albrecht
4. Our Recent Inflation Wasn't Wholly Driven by the COVID-19 Pandemic and the War in Ukraine, by David Beckworth
5. World War II Price Controls Were Not a “Total Success”, by Ryan Bourne
6. Modern Monetary Theory Has No Road Map for Dealing with Inflation, by Stan Veuger

PART 2: PRICES AND PRICE CONTROLS
Prices and Price Controls: An Introduction, by Ryan Bourne
7. Price Controls Have Been Disastrous throughout History, by Eamonn Butler
8. Under Rent Controls, Everyone Pays, by Jeffrey Miron and Pedro Aldighieri
9. Oil and Natural Gas Price Controls in the 1970s: Shortages and Redistribution, by Peter Van Doren
10. Interest Rate Caps Do Not Protect Vulnerable Consumers, by Nicholas Anthony
11. Abolishing “Junk Fees” Would Be Junk Policy, by Ryan Bourne
12. Government Price Fixing Is the Rule in U.S. Health Care, by Michael F. Cannon
13. Anti-Price-Gouging Laws Entrench Shortages, by Ryan Bourne
14. The West Needs Water Markets, but Achieving That Is Tough, by Peter Van Doren
15. Minimum Wage Hikes Bring Tradeoffs beyond Pay and Jobs, by Jeffrey Clemens
16. Minimum Wages Are an Ineffective and Inefficient Anti-Poverty Tool, by Joseph J. Sabia
17. Price Ceilings of Zero Can Cause Deadly Shortages, by Peter Jaworski

PART 3: VALUE
Value: An Introduction, by Ryan Bourne
18. The Labor Theory of Value Is Mistaken, by Deirdre Nansen McCloskey
19. Market Prices and Wages Do Not Reflect Ethical Value, by Deirdre Nansen McCloskey
20. Market Prices Are Not Inherently Corrupting, by Deirdre Nansen McCloskey
21. The Gender Pay Gap Isn't about Workplace Discrimination, by Vanessa Brown Calder
22. The Pink Tax Is a Myth, by Ryan Bourne
23. High CEO Pay Is Not a Simple Story of Rent Seeking, by Alex Edmans and J. R. Shackleton
24. Dynamic Pricing Can Benefit Consumers, by Liya Palagashvili
Notes
Index