Friedrich August von Hayek, often referred to by his initials F. A. Hayek, was an Austrian-British economist and political philosopher who made contributions to economics, political philosophy, psychology, intellectual history, and other fields. Hayek shared the 1974 Nobel Memorial Prize in Economic Sciences with Gunnar Myrdal for work on money and economic fluctuations, and the interdependence of economic, social and institutional phenomena. His account of how prices communicate information is widely regarded as an important contribution to economics that led to him receiving the prize.
The Cato Institute is an American libertarian think tank headquartered in Washington, D.C. It was founded in 1977 by Ed Crane, Murray Rothbard, and Charles Koch, chairman of the board and chief executive officer of Koch Industries. Cato was established to focus on public advocacy, media exposure and societal influence.
The Mont Pelerin Society (MPS) is an international organization composed of economists, philosophers, historians, intellectuals and business leaders. The society advocates freedom of expression, free market economic policies and the political values of an open society. Further, the society seeks to discover ways in which the private sector can replace many functions currently provided by government entities. Some scholars deny that the Mont Pelerin Society is neoliberal and claim that it is classical liberal.
The Institute for Humane Studies (IHS) is a non-profit organization that promotes the teaching and research of classical liberalism in higher education in the United States. IHS offers funding opportunities, programs, and events for faculty and graduate students seeking careers in academia as well as various fellowships.
The Foundation for Economic Education (FEE) is an American conservative, libertarian economic think tank. Founded in 1946 in New York City, FEE is now headquartered in Atlanta, Georgia. It is a member of the State Policy Network.
Atlas Network, formerly known as Atlas Economic Research Foundation, is a non-governmental 501(c)(3) organization based in the United States that provides training, networking, and grants for libertarian, free-market, and conservative groups around the world.
Donald Joseph Boudreaux is a libertarian American economist, author, professor, and co-director of the Program on the American Economy and Globalization at the Mercatus Center at George Mason University in Fairfax, Virginia.
Tyler Cowen is an American economist, columnist and blogger. He is a professor at George Mason University, where he holds the Holbert L. Harris chair in the economics department. He hosts the economics blog Marginal Revolution, together with co-author Alex Tabarrok. Cowen and Tabarrok also maintain the website Marginal Revolution University, a venture in online education.
Lawrence Henry White is an American economics professor at George Mason University who teaches graduate level monetary theory and policy. He is considered an authority on the history and theory of free banking. His writings support the abolition of the Federal Reserve System and the promotion of private and competitive banking.
Peter Joseph Boettke is an American economist of the Austrian School. He is currently a professor of economics and philosophy at George Mason University; the BB&T Professor for the Study of Capitalism, vice president for research, and director of the F.A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics at the Mercatus Center at GMU.
Charles Paul "Chuck" Blahous III is the J. Fish and Lillian F. Smith Chair and Senior Research Strategist at the Mercatus Center at George Mason University, as well as a visiting fellow at Stanford University's Hoover Institution, specializing in domestic economic policy and retirement security, as well as federal fiscal policy, entitlements, and health care programs.
Steven G. Horwitz was an American economist of the Austrian School. Horwitz was the Distinguished Professor of Free Enterprise in the department of economics in the Miller College of Business at Ball State University in Muncie, Indiana. In 2017, he retired as the Dana Professor of Economics Emeritus at St. Lawrence University.
Scott B. Sumner is an American economist. He was previously the Director of the Program on Monetary Policy at the Mercatus Center at George Mason University, a Research Fellow at the Independent Institute, and a professor at Bentley University in Waltham, Massachusetts. His economics blog, The Money Illusion, popularized the idea of nominal GDP targeting, which says that the Federal Reserve and other central banks should target nominal GDP, real GDP growth plus the rate of inflation, to better "induce the correct level of business investment".
Charles G. and David H. Koch (1940–2019), sometimes referred to as the Koch brothers, have become famous for their financial and political influence in United States politics with a libertarian, more so, right-libertarian or American-style libertarian political stance. From around 2004 to 2019, with "foresight and perseverance", the brothers organized like-minded wealthy libertarian-oriented conservatives, spent hundreds of millions of dollars of their own money to build an "integrated" and "stealth" network of think tanks, foundations, "grassroots" movements, academic programs, advocacy and legal groups to "destroy the prevalent statist paradigm" reshape public opinion to favor minimal government. As of mid 2018, the media has been encouraged to refer to the "Koch network" rather than the "Koch brothers".
Charles de Ganahl Koch is an American billionaire businessman. As of November 2023, he was ranked as the 22nd richest man in the world on the Bloomberg Billionaires Index, with an estimated net worth of $60 billion. Koch has been co-owner, chairman, and chief executive officer of Koch Industries since 1967, while his late brother David Koch served as executive vice president. Charles and David each owned 42% of the conglomerate. The brothers inherited the business from their father, Fred C. Koch, then expanded the business. Koch Industries is the largest privately held company by revenue in the United States, according to Forbes.
Market monetarism is a school of macroeconomic thought that advocates that central banks target the level of nominal income instead of inflation, unemployment, or other measures of economic activity, including in times of shocks such as the bursting of the real estate bubble in 2006, and in the financial crisis that followed. In contrast to traditional monetarists, market monetarists do not believe monetary aggregates or commodity prices such as gold are the optimal guide to intervention. Market monetarists also reject the New Keynesian focus on interest rates as the primary instrument of monetary policy. Market monetarists prefer a nominal income target due to their twin beliefs that rational expectations are crucial to policy, and that markets react instantly to changes in their expectations about future policy, without the "long and variable lags" postulated by Milton Friedman.
A nominal income target is a monetary policy target. Such targets are adopted by central banks to manage national economic activity. Nominal aggregates are not adjusted for inflation. Nominal income aggregates that can serve as targets include nominal gross domestic product (NGDP) and nominal gross domestic income (GDI). Central banks use a variety of techniques to hit their targets, including conventional tools such as interest rate targeting or open market operations, unconventional tools such as quantitative easing or interest rates on excess reserves and expectations management to hit its target. The concept of NGDP targeting was formally proposed by neo-Keynesian economists James Meade in 1977 and James Tobin in 1980, although Austrian School economist Friedrich Hayek argued in favor of the stabilization of nominal income as a monetary policy norm as early as 1931 and as late as 1975.
The Free Market Foundation (FMF) refers to itself as a classical liberal think tank located in Bryanston, Johannesburg, South Africa. Founded in 1975, the FMF was established to further human rights and democracy through the principles of an open society, the rule of law, personal liberty, and economic liberalism and press freedom. According to The Mercury editor Fikile-Ntsikelelo Moya, the FMF is a "libertarian think tank" wanting "unfettered capitalism" which "eschews all forms of state intervention in the life of the individual citizen". In 1987, Leon Louw, the FMF's co-founder and then-Executive Director, described the work of the foundation as follows:
Mario J. Rizzo is an American economist of the Austrian School. He serves as an associate professor of economics at New York University.
Masters of the Universe: Hayek, Friedman, and the Birth of Neoliberal Politics is a 2012 book by barrister Daniel Stedman Jones, in which the author traces the intellectual development and political rise of neoliberalism in the United States and the United Kingdom. Originally a PhD thesis, the author adapted it into a book.
