Sheed Andrews & McMeel, In cooperation with the Institute for Humane Studies (Menlo Park, Calif.) and the Liberty Fund (Indianapolis), continues to make available classic works and new studies in the Austrian economics tradition. Recent editions in the former category: Ludwig von Mlses's Liberalism: A Socio-Economic Exposition (1978, 207 pp., $15/$4.95), first published In English In 1962 as The Free and Prosperous Commonwealth: An Exposition of the Ideas of Classical Liberalism; and The Ultimate Foundation of Economic Science (1978, 148 pp., $15/$4.95), wherein von Mises explores the Austrians' distinctive methodology. And a recent addition to Austrian studies: New Directions In Austrian Economics (1978, 239 pp., $15/ $4.95) presents papers delivered at a conference commemorating the 100-year-old "marglnalist revolution" In economic theory.
F.A. Hayek, one of the most well known Austrian economists, has recently had two works reprinted In paperback editions by the University of Chicago Press: The Constitution of Liberty (1978, 568 pp., $7.95), first published in 1960; and Law, Legislation and Liberty, vol. 2, The Mirage of Social Justice (1978, 195 pp., $4.95), the middle volume In a series still to be completed with The Political Order of a Free Society.
Reprinting from a quite different tradition is accomplished by the University of Alabama Press with Letters from the Federal Farmer to the Republican, ed. Walter Hartwell Bennett (1978, 145 pp., $12.75). These letters, of disputed authorship, were written In opposition to the 1787 constitution and in defense of a bill of rights. This Is the first time they have been published together in one book.
More reprint editions: From Arlington House we get a hardcover reprint of David Friedman's The Machinery of Freedom: Guide to a Radical Capitalism (1978, 240 pp., $10), originally published In 1973 as a Harper Colophon paperback. The material Is the same except for an updating and expansion of the appendix listing what Friedman calls his competition—books, magazines, and organizations offering additional and sometimes different exposure to Friedman's libertarian ideas. Murray Rothbard, too, has had a 1973 book redone. Collier Books, a subsidiary of the original publisher, Macmillan, has brought out in paperback his For a New Liberty: The Libertarian Manifesto (1978, 338 pp., $5.95). Unlike Friedman, Rothbard has done some revising for this edition. There is a new chapter on inflation and the business cycle and an addition to the chapter on strategy wherein Rothbard expounds his faith In the ultimate victory of liberty. And an earlier premier chapter on the libertarian movement has been replaced by an appendix "providing an annotated outline of the complex structure of the current movement." This appendix Is similar to Friedman's in listing libertarian or libertarian-like magazines and organizations; but, unlike Friedman, Rothbard refrains from including any competition—any very different slant on libertarianism. Notable omissions include REASON magazine; the long-standing Society for Individual Liberty; and World Research, Inc., which produced the film The Incredible Bread Machine and, recently, Libra!