Free Market Economics is the foundation of Professor Steve H. Hanke's intellectual and policy work. Drawing from classical liberalism, monetarism, and the Austrian school, his approach emphasizes that markets allocate resources better than governments when prices, property rights, and incentives are allowed to operate without unnecessary intervention.
Free Market Economics at a Glance
Professor Hanke's approach to economics is founded in classical liberalism: markets allocate resources better than governments when prices, property rights, and incentives are allowed to coexist without intervention. His work consistently advocates for limited state intervention and the role of the free market in coordinating economic activity. These influences shape his work on inflation, exchange-rate regimes, and privatization.
Principles of Free Market Economics
Prof. Hanke's approach is founded in classical liberalism: markets allocate resources better than governments when prices, property rights, and incentives are allowed to coexist without intervention.
Principles of Free Market EconomicsIntellectual Roots
Hanke's thinking draws from Milton Friedman, the Chicago school, and Austrian economics, particularly the emphasis on rules-based policy, monetary stability, and scepticism toward discretionary government management.
Intellectual Roots of Hanke’s Free Market EconomicsPrivatisation and Property Rights
Hanke argues that private ownership and clear property rights produce stronger incentives, better capital allocation, and more reliable service provision than state-run systems.
Privatisation & Property RightsMoney as a Free-Market Institution
A central theme of Hanke's research is that stable, rules-based monetary systems are essential for free markets to function. His work focuses on removing discretionary monetary policy.
Money as a Free-Market InstitutionKey Publications
Selected papers and books where Hanke develops and applies his free-market views on topics ranging from exchange-rate regimes to privatization and monetary reform.
Key PublicationsRelated Topics
- Monetarism — The monetary framework at the core of Hanke's economics
- Currency Boards — Rules-based monetary institutions
- Dollarization — Replacing failed currencies with stable ones
- Hyperinflation — The consequences of monetary mismanagement
- Currency and Commodity Trading — Applied market economics