In this influential book, Milton Friedman discusses the role of economic capitalism in a liberal society. He argues that economic freedom is a precondition for political freedom and advocates for limited government intervention. The book covers various topics, including the relation between economic and political freedom, the role of government in a free society, monetary policy, international trade arrangements, and the role of government in education. Friedman's work has been highly influential in economic theory and policymaking, and the book has been translated into eighteen languages and sold over half a million copies since its publication in 1962.
In 'Economics in One Lesson', Henry Hazlitt provides a concise and instructive introduction to economics by dissecting common economic fallacies. The book's central lesson is that good economics involves considering the long-term and indirect consequences of any policy for all groups, not just the immediate effects on a specific group. Hazlitt uses examples like the 'broken window fallacy' to illustrate how focusing only on immediate benefits can overlook the broader, often negative, consequences. The book advocates for free markets, economic liberty, and non-governmental solutions, making it a critical read for understanding basic economic principles and the pitfalls of government intervention[1][4][5].
In this book, Thomas Sowell explores the fundamental differences in visions of human nature that underlie many political and ideological disputes. He identifies two primary visions: the 'constrained' vision, which sees human nature as inherently self-centered and limited by systemic processes, and the 'unconstrained' vision, which views human nature as malleable and perfectible through societal intervention. Sowell argues that these visions shape opinions on a wide range of issues, from justice and equality to power and social institutions. The book blends history, economics, philosophy, and law to provide a comprehensive understanding of these conflicting visions and their implications for political thought and action.
The Tuttle Twins series, designed for children aged 5-10, tackles complex topics such as free markets, competition, individual rights, the non-aggression principle, and personal responsibility in an accessible manner. The series is based on the idea of introducing children to the principles of a free society and fills a void in the children’s literature market by covering economic and government principles not typically part of elementary education. The books follow the adventures of twins Ethan and Emily as they learn about these concepts through engaging stories and characters[4][5][2].
In this seminal article, Hayek argues that the knowledge necessary for economic decision-making is dispersed among individuals and cannot be centralized. He emphasizes that market prices play a crucial role in disseminating this knowledge, allowing individuals to make rational economic decisions without needing complete information. Hayek critiques central planning, suggesting that it cannot match the efficiency of market mechanisms in utilizing local and specific knowledge held by various members of society.
Written from the perspective of a pencil, the essay details the intricate global supply chain and the numerous individuals involved in its creation. It emphasizes that no single person or centralized authority could coordinate the vast array of skills and resources required to produce a pencil. The essay argues for the efficiency of market economies and the futility of central planning, drawing on concepts from Adam Smith and Friedrich Hayek.
Thomas Hogan is a professor of Economics at the University of Austin, where he is making a return to academia after spending years in the business world. Thomas has worked in finance and business, and served as the Chief Economist for a US Senate Community.
In this episode, expect to learn about Thomas’ first term teaching at UATX and the culture they are fostering at America’s newest university. You’ll learn about the approach Thomas is taking in his classroom applying a socratic, discussion based format for his seminars, and employing the Chatham House Rule during classroom debates. You’ll also learn about the development of the curriculum at UATX and why economics is so important for people to understand, regardless of what field they’re going into.
Chapters:
0:00 - Intro
3:44 - The First Term at University of Austin
6:13 - The Faculty Experience at the University of Austin
10:16 - The Polaris Project and Thomas' Classroom
20:38 - What Brought Thomas to UATX
25:22 - What Led Thomas to Teaching
26:57 - UATX vs. George Mason
31:04 - Setting a Culture for Debate
36:31 - The Chattam House Rule
42:02 - The Hiring Process at UATX
47:18 - The Structure of Classes at UATX
51:50 - The Importance of Economics
59:31 - The Economic Literacy Level Thomas Hopes For from His Students
1:05:42 - Works of Economics that Were Influential to Thomas
1:11:02 - UATX Bitcoin
1:15:04 - Economic Learning Resources for Beginners
1:17:33 - How to Connect with Thomas' Work
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Resources Mentioned in this Episode:
Friedrich Hayek
A Conflict of Visions - Thomas Sowell
Capitalism & Freedom - Milton Friedman
Economics in One Lesson - Henry Hazlett
The Tuttle Twins Books
I, Pencil - Leanord E. Reed
Connect with Thomas Hogan:
UATX Website: https://discover.uaustin.org/
AIER Articles: https://aier.org
Inside UATX (Substack): https://uatx.substack.com
Connect with Hannah Frankman:
Twitter | https://twitter.com/HannahFrankman
RebelEducator | https://twitter.com/rebelEducator
Website | http://hannahfrankman.com
Follow along for conversations on education, lifestyle, personal development, and freedom. All in ardent pursuit of a life well lived.
The Hannah Frankman Podcast 
