Examines the post-1970s area of the Austrian economic tradition, from its revival to its contemporary directions and development. The book comprises texts on the relationship of Austrian economics to Institutionalism, Evolution, and Post-Keynesian economics to present a look at "the way forward".

The late 20th century has witnessed a resurgence of interest in the Austrian tradition in economics. However where once studies concentrated on the major theorists in the field, new directions are emerging. This edition takes up where Kirzner (Classics in Austrian Economics, Pickering & Chatto, 1995) and Littlechild (Austrian Economics, Edward Elgar, 1990) left off. The collected texts in this edition concern the post-1970s area of the Austrian tradition, from its revival to its contemporary directions and development. In particular, there is an increasing interest in the relationship of Austrian economics to the three fields of Institutionalism, Evolution, and Post-Keynesian economics. This edition comprises a collection of key and lesser-known texts in these areas to present a look at "the way forward" in Austrian economics.

Volume 1 A Multi-Directional Revival 1. Kirznerian lines of thought. Market Process Theory: I Kirzner, 'Market Process in a Pure Exchange Economy' (1963)
I Kirzner, 'Uncertainty, Discovery, and Human Action' (1982)
Theory of Entrepreneurship: S C Littlechild and G Owen, 'An Austrian Model of the Entrepreneurial Market Process' (1980)
A J Yates, 'The Knowledge Problem, Entrepreneurial Discovery and Austrian Market Process Theory' (2000)
Rationality: G Becker, 'Irrational Behaviour and Economic Theory' (1962)
I Kirzner, 'Rational Action and Economic Theory' (1962)
2. Rothbardian lines of thought. The Defence of Mises' Legacy: G J Schuller, 'Review of Human Action by Ludwig Von Mises' (1950)
M Rothbard, 'Mises' 'Human Action': Comment' (1951)
G J Schuller, 'Rejoinder' (1951)
M Rothbard, 'Praxeology: Reply to Mr Schuller' (1951)
M Rothbard, 'Ludwig von Mises and the Paradigm of our Age' (1971)
Praexology and Normative Discourse: M Rothbard, 'Toward a Reconstruction of Utility and Welfare Economics' (1956)
M Rothbard, 'Praxeology, Value Judgements, and Public Policy' (1976)
Free Banking: M Rothbard, 'Gold vs. Fluctuating Fiat Exchange Rates' (1975)
G A Selgin, 'The Case for Free Banking: Then and Now' (1985)
L White, 'Free Banking as an Alternative Monetary System' (1983)
3. Lachmannian Lines of Thought: An Overview: W E Grinder, 'In Pursuit of the Subjective Paradigm' (1977)
K Mittermaier, 'Ludwig Lachmann, A Biographical Sketch' (1992)
Market Process Theory: L Lachmann, 'Why Expectations Matter' (1982)
L Lachmann, 'Markets and the Market' (1986)
Capital Theory: P Lewin, 'Time, Change, and Complexity: Ludwig M Lachmann's Contributions to the Theory of Capital' (1996)
L Lachmann, 'On Austrian Capital Theory' (1976) Causal-Genetic Thinking: R Cowan and M Rizzo, 'The Genetic-Causal Tradition and Modern Economic Theory' (1996)
R G Koppl, 'Invisible Hand Explanation : Towards a Post-Marginalist Economics' (1992)
Volume 2 Dispersal 1. Criss-cross critics. The Misesian Praexology: M Rothbard, 'The Present State of Austrian Economics' (1992)
G Selgin, 'Praxeology and Understanding: An Analysis of the Controversy in Austrian Economics' (1988)
M Rothbard, 'The Hermeneutical Invasion of Philosophy and Economics' (1989)
D Lavoie, 'Euclideanism Versus Hermeneutics: A Re-interpretation of Misesian Apriorism' (1986)
P Boettke, S Horwitz and D Prytchitko, 'Beyond Equilibrium Economics' (1986)
I Kirzner, 'Equilibrium versus Market Process' (1976)
R Garrison, 'Austrian Economics as the Middle Ground' (1982)
S Boehm, 'Austrian Economics and the Theory of Entrepreneurship: Israel M Kirzner Interviewed' (1992)
M Rizzo, 'Equilibrium Vision' (1992)
2. Fellow Travellers. Austrians and Neoclassicals: S Rosen, 'Austrian and Neoclassical Economics: Any Gains From Trade?' (1997)
L Yeager, 'Austrian Economics, Neoclassicism, and the Market Test' (1997)
H Demsetz, 'Information and Efficiency: Another Viewpoint' (1969) Austrians and Constitutionalists: J Buchanan, 'General Implications of Subjectivism in Economics' (1979)
J Buchanan, 'Natural and Artifactual Man' (1979)
V J Vanberg, 'Markets and Regulation: on the Contrast between Free-Market Liberalism and Constitutional Liberalism' (1999) Austrians and Neo-Austrians: J Hicks, 'Is Interest the Price of a Factor of Production?' (1979)
M Faber, M Proops, S Speck and F Jost, 'Historical Background to Neo-Austrian Capital Theory' (1999) Austrians and Post-Keynesians: G L S Shackle, 'Imagination, Unknowledge and Choice' (1980)
B Loasby, 'Economics of Dispersed and Incomplete Information' (1982)
P Davidson, 'The Economics of Ignorance or the Ignorance of Economics?' (1989)
Volume 3 Toward a Broader Paradigm 1. Toward Institutionalism. Methodological Benchmarks: E Ullman-Margalit, 'Invisible hand explanations' (1978)
J Agassi, 'Institutional Individualism' (1975) Austrians and Old Institutionalists: P Boettke, 'Evolution and Economics: Austrians as Institutionalists' (1989)
W Dugger, 'Austrians vs Institutionalist: who are the real dissenters?' (1989)
S Gloria-Palermo, 'An Austrian Dilemma: necessity and impossibility of a theory of institutions' (1998)
Radical Subjectivist Approaches: R Langlois, 'Coherence and Flexibility: Social Institutions in a World of Radical Uncertainty' (1986)
D Lavoie, 'The Discovery and Interpretation of Profit Opportunities' (1991)
2. Towards Evolutionism. Austrian Economics and the Evolutionist Paradigm: R Langlois, 'Rationality, institutions, and explanation' (1986)
R Langlois, 'What was Wrong with Old Institutional Economics' (1989)
Game Theory Perspective: A Schotter, 'Why take a Theoretical Approach to Economics' (1984)
U Witt, 'Evolution and Stability of Cooperation Without Enforceable Contracts' (1986)
S C Littlechild, 'An Entrepreneurial Theory of Games' (1979)
Austrian Theory of the Firm: B Loasby, 'Evolution within equilibrium' (1994)
U Witt, 'Imagination and Leadership' (1998)
N Foss, 'The Use of Knowledge in the Firm' (1998)
The Cognitive Perspective: K Vaughn, 'Hayek's theory of market order as an instance of the theory of complex, adaptive systems' (1999)
F von Hayek, 'Rules perception and Intelligibility' (1963)
D Lavoie, H Baetjer and W Tulloh, 'High-Tech Hayekians: Some Possible Research Topics in the Economics of Computation' (1990)