THE MARKET ECONOMY:
A READER
First Edition
James L. Doti (Editor), Chapman University
Dwight R. Lee (Editor), University of Georgia
ISBN: 0-935732-26-8 
© 1991, softbound, 362 pages
OUT OF PRINT--call 310-473-3312 for a COURSEPACK
The Market Economy: A Reader, 1st ed.
The Market Economy: A Reader brings together a comprehensive collection of primary source readings featuring seminal writings by both the great classic liberals and contemporary proponents of the market economy. The anthology is edited by James Doti (Chapman College) and Dwight Lee (Holder of the Ramsey Clark Chair of Private Enterprise at the University of Georgia). The book benefitted from the editorial input of such distinguished scholars as William R. Allen (University of California, Los Angeles) and Fred R. Glahe (University of Colorado, Boulder).

The Market Economy: A Reader features classic readings such as Adam Smith's invisible hand and pin factory from his Wealth of Nations, David Ricardo's original explanation of comparative advantage from Principles of Political Economy and Taxation, John Stuart Mill's eloquent expression of the limits of government in On Liberty, and Ronald Coase's insightful explanations of the implications of externalities on resource allocation in "The Problem of Social Costs."

Table of Contents

Section One - The Invisible Hand

Capitalism and Greed
James L. Doti

Social Responsibility of Business and Labor
Milton Friedman

The Moral Meaning of Capitalism
Ayn Rand

Freedom and Failure
Dwight R. Lee

The Use of Knowledge in Society
Friedrich A. Hayek

Of the Division of Labour and Restraints Upon Importation
Adam Smith

Section Two - The Market and Individual Freedom

Io Leggo e Scrivo
James L. Doti 

Liberty and Individual Responsibility
Dwight R. Lee

The Relation Between Economic Freedom and Political Freedom
Milton Friedman

Private Property, Freedom, and the West
James Gwartney

The Creative Powers of a Free Civilization
Friedrich A. Hayek

Private Property and the Government and the Impracticability of Socialism
Ludwig von Mises 

Section Three - Imperfect Markets

Bocce and the Economics of Collusion
James L. Doti

The Sources of Monopoly
Milton Friedman

Government Policy and the Market
Friedrich A. Hayek

Environmental Versus Political Pollution
Dwight R. Lee

The Economic Common Sense of Pollution
Larry E. Ruff

Section Four - Governmental Regulation

The Price of Chiminelli Seeds and Regulation Q
James L. Doti

The Price Blackout
Dwight R. Lee

Roofs or Ceilings? The Current Housing Problem 
Milton Friedman and George J. Stigler

Inequalities of Wages and Profit
Adam Smith

Section Five - The Proper Role of Government

Italian Lemonade
James L. Doti

The Role of Government in a Free Society
Milton Friedman

The Political Economy of the U.S. Constitution
Dwight R. Lee

The Nature of Government
Ayn Rand

Of the Expenses of the Sovereign or Commonwealth
Adam Smith

On the Duty of Civil Disobedience
Henry David Thoreau

Of the Limits to the Authority of Society Over the Individual
John Stuart Mill

Section Six - Scarcity, Conflict, and Social Cooperation

Commare N'Cuizzia and the Loan Sharks
James L. Doti

The Political Economy of Social Conflict, or Malice in Plunderland
Dwight R. Lee

Moral Community, Moral Order, or Moral Anarchy
James Buchanan

The Problem of Social Cost
R. H. Coase

Section Seven - The Distribution of Income 

The Politics of Poverty and the Poverty of Politics
Dwight R. Lee

Created Equal
Milton and Rose Friedman

The Constraints on Helping
Charles Murray

Inequalities Arising From the Nature of the Employments Themselves
Adam Smith

The Charity of the Uncharitable
Gordon Tullock

Section Eight - International Trade

Ravioli and the Economics of Trade
James L. Doti

Down in the Import Dumps
Marc Levinson

The Tyranny of Controls
Milton and Rose Friedman

Candlemaker's Petition
Frédéric Bastiat

Restraints on Particular Imports
Adam Smith

On Foreign Trade
David Ricardo

Restraint of Trade
Frédéric Bastiat