F. A. Hayek Program for Advanced Study in Philosophy, Politics, & Economics

Through the Frédéric Bastiat Fellowship and later the James Buchanan Fellowship, Alicia found the intellectual community and theoretical foundations that transformed her understanding of regulatory economics.

Today, as an associate professor at West Virginia University running a center and publishing on regulatory policy, Alicia credits those fellowships with building the network and knowledge base that launched her career, so much so that she now sends her own students to Mercatus fellowships every year.

Bastiat & Buchanan Alum Alicia Plemmons shares her Mercatus Fellowship Story. https://loom.ly/nXFgbBw

In 1952, Austrian economist Ludwig von Mises edited an abridged version of Adam Smith's "The Wealth of Nations." In the introduction, which he entitled "Why Read Adam Smith Today?", he explored the importance of Smith's works for modern readers:

"Smith’s books did not lay the foundation stone, but the keystone, of a marvelous system of ideas. Their eminence is to be seen precisely in the fact that they integrated the main body of these ideas into a systematic whole. They presented the essence of the ideology of freedom, individualism, and prosperity, with admirable logical clarity and in an impeccable literary form.

[...] The ideas that found their classical expression in the two books of Adam Smith demolished the traditional philosophy of mercantilism and opened the way for capitalist mass production for the needs of the masses. [...] There can hardly be found another book that could initiate a man better into the study of the history of modern ideas and the prosperity created by industrialization.

To read more on what Mises thought of Smith's ideas, click on the link below.

Why Read Adam Smith Today? - FEE Adam Smith’s books did not lay the foundation stone, but the keystone, of a marvelous system of ideas.

On this episode, Kristen Collins speaks with Glory Liu about the 250th anniversary of both Adam Smith’s The Wealth of Nations and the Declaration of Independence. Together, they unpack Smith's work as a critique of Britain's mercantile system and explore how reception history reveals the influence of ideas.

🎧 Tune in to Virtual Sentiments

Glory Liu on Adam Smith's America On this episode of Virtual Sentiments, Kristen Collins speaks with Glory Liu about the 250th anniversary of both Adam S

Jordan Lofthouse joins The Economic Podcast for Gen Z to discuss his new book, "An Economist's Guide to Environmentalism."

They talk about economics, the tragedy of the commons, Elinor Ostrom, and what economics can contribute to debates surrounding environmentalism.

#6 - Dr. Jordan Lofthouse - An Economist's Guide to Environmentalism In this episode, I speak with Jordan Lofthouse about environmentali...

Back in March, Ismail Kuran sat down with Chandran Kukathas to discuss immigration and the foundations of liberalism.

Chandran Kukathas: Immigration & Liberalism | Open Dialogue A conversation with Prof. Chandran Kukathas on immigration and liberalism. Open Dialogues is a series of conversations with leading thinkers on philosophy an...

Today, having just completed her PhD with dissertation research on Sundown Towns, examining how historical exclusion shaped long-term economic trajectories, Olivia credits the Bastiat Fellowship, particularly its research sequences, with helping her discover what kind of scholar she wanted to be.

Bastiat Alum Olivia Galloway shares her Mercatus Fellowship Story.
https://loom.ly/PqOiwN8

Applications due tomorrow for the Fall 2026 Undergraduate Scholars Program or the 2026-2027 Graduate Scholars Program!

These competitive programs are open to George Mason University students of all disciplines who are interested in political economy. Throughout the program term, fellows read foundational and contemporary works in political economy and participate in regular discussion with other fellows, Mason faculty, and Hayek Program Scholars.

Apply Now!
🔗 https://www.mercatus.org/students/fellowships

After 250 years, why still read Adam Smith?

Kenneth Boulding answers this precise question in his article, "After Samuelson, Who Needs Adam Smith?" He argues that Smith is not just a historical figure, but part of our extended present. The questions Smith raised about development, institutions, jurisprudence, and the moral foundations of markets are still live questions.

As Boulding notes: "One can still go back to Adam Smith even after many rereadings and find insights which one has never noticed before and which may have a marked impact on one's own thought. [...] The principle seems to me pretty clear that as long as intellectual evolutionary potential remains yet undeveloped in the early writers, the modern writers are a complement rather than a substitute; that is, we need both Samuelson and Adam Smith."

For more on this topic, check out:
🔗 Kenneth Boulding's article, "After Samuelson, Who Needs Adam Smith?" https://loom.ly/sYjqfIo
🔗 Peter Boettke's article, "Kenneth Boulding as an enchanting, encouraging and engaging professor" https://loom.ly/wu780bo

Introducing the first episode of our new series: The Hayekian Triangle 🔺

On this episode, our hosts, Virgil Storr, Chris Coyne, and Peter Boettke explore the continuing relevance of Adam Smith's Wealth of Nations.

Together, they dig into what Smith actually said, why the standard takes on laissez-faire and self-interest so often miss the mark, and what a Scottish moral philosopher writing in 1776 still has to teach us about wealth, poverty, and the institutions that make human flourishing possible.

🎧 Tune in to the Hayek Program Podcast: https://loom.ly/MHEHcQM