We are extremely happy to see Austrian Economics Re-Examined in print. This is an expanded edition of The Economics of Time and Ignorance, published by Routledge in 1996. The new edition contains many important additional features. There is a substantially updated Introduction that explains why, in our view, the book is more relevant than ever before. Perhaps most importantly, we are including the previously unpublished essay “What Is Austrian Economics?” Although this article is more of a survey than is the book, it was the basis from which we wrote the book. There is also the full text of the New Palgrave Dictionary of Economics article “Austrian Economics: Recent Work,” first published in 2009. Finally, we are including our largely self-contained responses to criticism we received at a session of the Southern Economics Association on November 19, 2011, that was held in recognition of the twenty-fifth anniversary of the original Blackwell edition of the book. If readers want to see the full symposium, it is contained in The Review of Austrian Economics, 2013, vol. 26, issue 1. We are indebted to Professor David Harper of New York University for organizing this session.
We have also decided to create a website with recommendations for further reading, photos and other material helpful for a further appreciation of the book. We are indebted to Professors Simon Bilo (Allegheny College) and Shruti Rajagopalan (Purchase College) for urging the construction of the website and for their invaluable help in gathering the relevant content. The site can be accessed at http://timeandignorance.com.
We are also indebted to Anne Stubing of the C. V. Starr Center at New York University and various research funds generously made available by NYU for help in producing the manuscript for this book. We are also indebted to the H. B. Earhart Foundation for further financial support.
Gerald P. O’Driscoll, Jr.
Mario J. Rizzo
March 2014