Do Economics and Business Studies Advance Liberal Education and a Free Society?


Economics and business studies are in high demand among college students, and these disciplines are often touted to them as paths to employment. Approximately one quarter of university degrees awarded today are in business; this dramatic increase has been accompanied by a simultaneous decline in liberal arts degrees. This colloquium proposed to explore the extent to which these two disciplines, as conceived and taught in recent decades, make a vital contribution to a liberal education.


From Liberty Fund

A Maverick’s Defense of Freedom

by By Benjamin A. Rogge
Edited and with an Introduction by Dwight R. Lee

This new collection of fifty-three essays, many of which have never before been published, gathers some of Benjamin Rogge’s most interesting talks and writings spanning a vast array of topics including the case for individual liberty and responsibility in maintaining the free-market economy, the nature of economics, the business system,…

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The Logical Foundations of Constitutional Liberty

by By James M. Buchanan
Foreword by Geoffrey Brennan, Hartmut Kliemt, and Robert D. Tollison

The thirty-one papers presented in this volume offer scholars and general readers alike a comprehensive introduction to the work of one of the greatest economists of the modern era. Many of Buchanan’s most important essays are gathered in this inaugural volume of the twenty-volume series from Liberty Fund of his…

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Additional Readings

Bennis, Warren and James O'Toole. “How Business Schools Lost Their Way.” Harvard Business Review (May 2005): 90-104.

Benson, George P. “The Evolution of Business Education in the U.S.” Decision Line 35, no. 1 (January 2004): 17-20.

Boorstin, Daniel. The Americans: the Democratic Experience. New York: Random House, 1973.

Buchan, James. “The Poverty of Economics.” Prospect 3 (December 1995): 29-32.

Capaldi, Nicholas. “Curriculum.” Loyola University, Loyola University - College of Business, 2010-2011.

Frank, Bjorn and Gunther G. Schulze. “Does Economics Make Citizens Corrupt?” Journal of Economic Behavior and Organization 43 (2000): 101-113.

Ghoshal, Sumantra. “Bad Management Theories Are Destroying Good Management Practices.” Academy of Management Learning and Education 4, No. 1 (2005): 75-91.

Hutchins, Robert Maynard. “A Reply to Professor Whitehead.” Atlantic Monthly (October 1936): 582-588.

Jennings, Marianne. “What's Happening in Business Schools?” Public Interest (August 1999): 25-32.

Khurana, Rakesh. From Higher Aims to Hired Hands: The Social Transformation of American Business Schools and the Unfulfilled Promise of Management as a Profession. Princeton: Princeton University Press, 2010.

Kirp, David L. Shakespeare, Einstein, and the Bottom Line: The Marketing of Higher Education. Cambridge: Harvard University Press, 2003.

Levy, David. How the Dismal Science Got Its Name. Ann Arbor: University of Michigan Press, 2002.

Mises, Ludwig von. Human Action: A Treatise on Economics. Edited by Bettina Bien Greaves. Indianapolis: Liberty Fund, Inc., 2007.

North, Douglas C. "Economic Performance Through Time." The American Economic Review 84, no. No. 3 (1994 June): 359-368. (accessed September 23, 2009).

Smith, Vernon L. “Contract Killing.” Wall Street Journal (August 19, 2004): A12.

Theil, Stefan. “Europe's Philosophy of Failure.” Foreign Policy (January/February 2008): 54-60.

Whitehead, Alfred North. Aims of Education and Other Essays. New York: Free Press, 1927.

Whitehead, Alfred North. “Harvard: The Future.” Atlantic Monthly (September 1936): 260-270.