Bryan Cheang discovered the Adam Smith Fellowship during his PhD studies in political economy at King's College London. Coming from Singapore, Bryan was drawn to the fellowship's interdisciplinary approach and its focus on understanding how free markets and liberal institutions work across different cultural contexts. Smith Alum @bryancheang_ shares his Mercatus Fellowship Story. loom.ly/4v3e_-8

As a high school student, Zofia had no way to pursue her growing curiosity about economics. The fellowship changed everything. Today, as a college freshman studying economics with interests in economic history and quantitative methods, Zofia credits her three years participating in Mercatus fellowships taking the Exploring Complex Solutions fellowship twice in high school and currently participating in the Don Lavoie Fellowship with shaping her entire academic trajectory and showing her what economics could be. High School Alum Zofia Maruszewska shares her Mercatus Fellowship Story. loom.ly/OVaY8Fw

In 2021, having completed his PhD and started as a tenured assistant professor at the National University of Political Science and Public Administration (SNSPA), David applied for the James Buchanan Fellowship. He was looking for that intellectual curiosity "I think meeting some other guys that are in a way similar to myself. I think the type of networking and connection and intellectual connection between me and similar peers." Buchanan Alum David Diaconu shares his Mercatus Fellowship Story. loom.ly/QXC-plo

Toward the end of his master's program in philosophy and cognitive science from Tübingen Malte found out about Mercatus. "And then towards the end of that, someone I met through that scholarship, the scholarship was like a German liberal organization scholarship, introduced me to Mercatus and was like, man, Malte, I think you would really like these people and you really like these events, you should apply. " Malte applied for the Frédéric Bastiat Fellowship. It was his first time visiting the United States, and it opened a world he hadn't imagined. Bastiat & Smith Alum Malte Hendrickx shares his Mercatus Fellowship Story. loom.ly/ZVvux3E

@RachBehrLaRose's first major project crystallized everything. Working with @vstorr, who would become her dissertation advisor, she wrote a paper on Aristotelian friendships in the marketplace. They ran a survey of thousands of people, testing different sorts of Aristotelian friendship and how present they were in marketplace versus non-market systems. "It was a perfect place to marry my two passions." PhD Alum Rachael Behr LaRose shares her Mercatus Fellowship Story. loom.ly/DTz_zTo

250 years ago, America declared its independence. About 60 years later, a young Frenchman named Alexis de Tocqueville arrived to investigate the sources of this democratic experiment's stability — and the conditions that might undermine it. 🇺🇸 This volume, edited by @PeterBoettke & Adam Martin, brings together emerging scholars across economics, political science, sociology & philosophy to explore Tocqueville's political economy: his views on constitutionalism, liberalism, education & institutions, and how they apply to today's biggest debates — from mass incarceration to international relations. As we reach this 250-year milestone, Tocqueville's diagnosis of democratic life demands a fresh hearing. 🔗 loom.ly/C_CG3f8

Some additional recommendations on the economics of socialism and the capitalist alternatives. "The Socialist Calculation Debate" by @PeterBoettke, Rosolino Candela, & Tegan Truitt mercatus.org/hayekprogram/re… "National Economic Planning: What is Left?" by Don Lavoie mercatus.org/hayekprogram/re…. "Capitalist Alternatives" by Paul Dragos Aligica & @vladtarko mercatus.org/hayekprogram/re… "Politics as a Peculiar Business" by Richard E. Wagner mercatus.org/hayekprogram/re…

📚 Coming July 29: "The Routledge Handbook of Classical Liberalism," edited by @RichardAEpstein , Mario Rizzo, and @MissLiyaP. Bringing together leading scholars, this new handbook offers a comprehensive examination of classical liberalism—its core principles, enduring arguments, and relevance to today's most pressing policy challenges. From public health and healthcare to technology, policing, taxation, constitutional design, and beyond, the volume demonstrates how classical liberal thought provides a coherent framework for understanding a wide range of contemporary issues. Whether you're a student, researcher, policymaker, or simply interested in political economy, law, or public policy, this handbook is an essential new resource. Click here to pre-order! loom.ly/0AW4Lfw

The fellowship's classroom experience proved transformative, they didn't just teach economics; they modeled intellectual honesty and the willingness to question assumptions. MA Alum @JoshLoucks27 shares his Mercatus Fellowship Story. loom.ly/cDxMnFA

On this episode, @KristenRoseC and @lkatfield explore conservative critiques of liberalism, as part of their wider conversation on "Furious Minds: The Making of the MAGA New Right" and the 250th anniversary of the Declaration of Independence. 🎧 Tune in to Virtual Sentiments mercatus.org/hayekprogram/vi…

When asked where to study in the US, @JMilei suggested one place: George Mason University. “He said, you should go to George Mason. There is a classical liberal perspective there.” Agustin applied, was accepted immediately, and moved to Virginia knowing almost nothing about what awaited him. MA Alum @agustinforzani shares his Mercatus Fellowship Story. mercatus.org/students/econom…

Congratulations to our Mercatus alumni on your well-deserved awards and recognitions! We're proud to see you leading, achieving, and making a lasting impact. #EconomicsWithAttitude @BryanPCutsinger, @cesarbaezc, @Abigail_R_Hall

Congratulations to our Mercatus alumni on your recent awards and recognitions! We're proud to celebrate your accomplishments and the impact you're making. #EconomicsWithAttitude @_MattCaulfield, @ismailkurun_, @ZaneAWillard, @ZulfiqarFasih

On this episode of Virtual Sentiments, @KristenRoseC talks with @lkatfield about the 250th anniversary of the Declaration of Independence and her recent book, "Furious Minds: The Making of the MAGA New Right." Together, they explore the different intellectual camps within this "New Right" and their varying and sometimes conflicting visions of the American founding. 🎧 Tune in to Virtual Sentiments: loom.ly/Q56b51U

Is the system rigged? @PeterBoettke joins @davidlin_TV to discuss shifting public attitudes toward capitalism and socialism and what artificial intelligence may mean for the future of work and the economy. piped.video/01V6f_eQXQ0?si=gRHj…

Like many early-career professionals, @AnneLHobson had tried different roles, from journalism to outdoor education, before finding a calling through a fellowship program that combined rigorous academic training with real-world policy experience. What she found was far more than a career path. She found a lens through which to understand the world, mentors who believed in her potential, and a community that would shape the next decade of her professional life. MA Alum Anne Hobson shares her Mercatus Fellowship Story. loom.ly/IFKlTJc

What is Mainline Economics? The term was coined by Kenneth Boulding to describe an intellectual tradition stretching from Adam Smith to the present day — one united by a shared set of positive propositions about social order. Boulding's student, @PeterBoettke, has extended this framework to center around three core ideas: 1. There are limits to the benevolence that individuals can rely on and therefore they face cognitive and epistemic limits as they negotiate the social world. 2. Formal and informal institutions guide and direct human activity. 3. Social cooperation is possible without central direction. This stands in contrast to mainstream economics, a sociological concept that simply reflects whatever is fashionable among the scientific elite of the profession at a given moment: "Form, not substance, is what defines mainstream economics. [...] Explaining the invisible hand of the market from the rational choice postulate via institutional analysis is what unites scholars working in the mainline of economic analysis." To learn more about Mainline Economics, visit the link below. loom.ly/1T_r8nE Still want to learn more, check out these two books: Applied Mainline Economics: Bridging the Gap between Theory and Public Policy loom.ly/eoF_6qc Mainline Economics: Six Nobel Lectures in the Tradition of Adam Smith loom.ly/_N80lcY

Student journalist Kaeden Lincoln interviews @lawrencehwhite1 on his recent lecture at Boise State University on Adam Smith's views on private and government money. piped.video/2R1ypfBneyo?si=rczl…

For another look at F.A. Hayek's conception of coercion, check out @ChandranKukath1's "Liberty" (1993) and his book, "Hayek and Modern Liberalism" (1989). Article: ink.library.smu.edu.sg/cgi/v… Book: global.oup.com/academic/prod…

When @StoneZone47 started his PhD program at Clemson University, he knew something was missing from his economics classes. [...] Today, Stone credits the [Bastiat] fellowship with giving him the philosophical understanding and practical tools that transformed both his research approach and his career trajectory. Bastiat Alum Stone Washington shares his Mercatus Fellowship Story. loom.ly/ZB7GOKQ

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. loom.ly/nXFgbBw

Don't miss the first episode of The Hayekian Triangle: The Wealth of Nations at 250. @vstorr, @ccoyne1, and @PeterBoettke mark 250 years of The Wealth of Nations by highlighting the freedom potential of Smith's project — including his fierce, often forgotten opposition to slavery. 🔗 loom.ly/MHEHcQM

Back in March, @ismailkurun_ sat down with @ChandranKukath1 to discuss immigration and the foundations of liberalism. piped.video/8jL59ekmM3I?si=zvyM…

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. loom.ly/PqOiwN8

Applications due tomorrow for the Fall 2026 Undergraduate Scholars Program or the 2026-2027 Graduate Scholars Program! #EconomicsWithAttitude 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! 🔗 mercatus.org/students/fellow…

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?" loom.ly/sYjqfIo 🔗 @PeterBoettke's article, "Kenneth Boulding as an enchanting, encouraging and engaging professor" loom.ly/wu780bo

Introducing the first episode of our new series: The Hayekian Triangle 🔺 On this episode, our hosts, @vstorr, @ccoyne1, and @PeterBoettke 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: loom.ly/MHEHcQM

Today, as Executive Director of @JoinYoungVoices, now an independent nonprofit reaching over 90 million people annually with classical liberal ideas, Casey credits those early Bastiat experiences with teaching him how to weave policy narratives and connect with a network that has sustained his work for a decade. Bastiat Alum Casey Given shares his Mercatus Fellowship Story. loom.ly/UQDEct0

Apply now for the Fall 2026 Undergraduate Scholars Program or the 2026-2027 Graduate Scholars Program! #EconomicsWithAttitude 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. Click the links below. Undergraduate: loom.ly/1xHekYo Graduate: loom.ly/1nPTlgk

🌟 NEW SERIES ALERT 🎙️✨ Introducing The Hayekian Triangle 🔺 — conversations between @PeterBoettke , @ccoyne1 , & @vstorr on the ideas that shape free & prosperous societies 🎧 First episode drops next Wednesday, May 27 📚 Kicking off with a discussion on the 250th anniversary of Adam Smith’s The Wealth of Nations 🎉 🔗 Subscribe to the Hayek Program Podcast: mercatus.org/hayekprogram/ha…

When @Pri_Venkat arrived at George Mason University as an economics student, she brought a vague understanding of markets from high school. But studying at GMU introduced her to something different: Austrian economics, methodological individualism, and the idea that markets aren't abstract supply and demand curves, they're people making decisions. Undergraduate Alum Priyanka Venkat shares her Mercatus Fellowship Story. mercatus.org/students/econom…

"What we lack is a liberal Utopia, [...] a truly liberal radicalism which does not spare the susceptibilities of the mighty [...] and which does not confine itself to what appears today as politically possible." 🎂 Happy birthday to F.A. Hayek, whose work continues to inspire liberals to articulate a bold vision of individual rights and dignity. Share your favorite book/article by Hayek in the comments!

When Benedikt Schmal joined the Oskar Morgenstern Fellowship as a PhD student in industrial economics, he came with a strong background in game theory and quantitative methods. [...] Today, Benedikt credits the fellowship with making him "a better economist," one who can approach problems with entrepreneurial thinking and multiple perspectives. Morgenstern Alum Benedikt Schmal shares his Mercatus Fellowship Story. loom.ly/NKsXQ5A

Encouraged to apply for the MA Fellowship, @adamnmichel discovered a passion for economics as a tool for understanding and improving the world. Today, as Director of Tax Policy Studies at the Cato Institute, Adam credits the MA Fellowship with giving him both the rigorous economic foundation and the practical communication skills that enable him to bridge deep academic work with urgent policy debates. MA Alum Adam Michel shares his Mercatus Fellowship Story. loom.ly/Ew7Bo2s

Today, as a documentary producer creating content about Venezuelan immigration and Latin American policy, César credits the fellowship with giving him the intellectual tools and frameworks he applies daily to his storytelling work. Lavoie Alum @cesarbaezc shares his Mercatus Fellowship story. loom.ly/ylMlD5w

Today, as Strategic Research Director at @PacificLegal, Megan credits the Frédéric Bastiat Fellowship with giving her the interdisciplinary framework and professional network she needed to bridge economic theory with real-world policy challenges. Bastiat Alum Megan Jenkins shares her Mercatus Fellowship story. loom.ly/i6iOIA0

Last day to apply for the Don Lavoie and James Buchanan Fellowships! 🚨 If you, or someone you know, is interested in the foundations of classical liberal political economy and its contemporary relevance for economic, political, and social life, please apply. Lavoie Fellowship: loom.ly/-WVR8fg Buchanan Fellowship: loom.ly/qTRteW8

Coming later this year, @DeirdreMcClosk's new book, "Equality of Permission: The Politics of Feasible Liberalism," published by @UChicagoPress. Pre-order now mercatus.org/hayekprogram/re…

Applications close soon! The Don Lavoie Fellowship is a competitive, semester-long program for students from any discipline interested in exploring the foundational ideas of political economy through structured readings, faculty mentorship, and rigorous discussion. Apply here: loom.ly/mR8c5Y8

Applications close soon! The James Buchanan Fellowship is a one-year, competitive fellowship program awarded to scholars in any discipline who have recently graduated from their doctoral programs. Apply here: loom.ly/hJ00yeY

Applied Mainline Economics by @PeterBoettke & @Matt_d_Mitchell mercatus.org/hayekprogram/re… Living Economics: Yesterday, Today, and Tomorrow by @PeterBoettke mercatus.org/hayekprogram/re… Austrian Economics: An Introduction by @ccoyne1 & @Abigail_R_Hall mercatus.org/hayekprogram/re… How the World Became Rich: The Historical Origins of Economic Growth by @MarkKoyama & @jaredcrubin mercatus.org/hayekprogram/re…

Joseph's research focuses on American politics and political development, using game theory to understand complex political interactions. He came to graduate school "interested in quite abstract questions around the nature of the state and legal authority," but over time has focused more on contemporary policy issues, particularly housing and environmental policy in Alaska. The James Buchanan Fellowship helped him bridge these interests in powerful ways. Buchanan Alum Joseph Warren shares his Mercatus Fellowship story. loom.ly/048VcaU

Applications close in one week! The Don Lavoie Fellowship is a competitive, semester-long program for students from any discipline interested in exploring the foundational ideas of political economy through structured readings, faculty mentorship, and rigorous discussion. Apply here: loom.ly/mR8c5Y8

Applications close in one week! The James Buchanan Fellowship is a one-year, competitive fellowship program awarded to scholars in any discipline who have recently graduated from their doctoral programs. Apply here: loom.ly/hJ00yeY

When @barbaragrdv discovered the Don Lavoie Fellowship something clicked. Today, as Senior Producer at the Cato Institute, Barbara credits the fellowship with giving her "four months of a mini college experience" that transformed her understanding of economics. Lavoie Alum Barbara Galletti shares her Mercatus Fellowship story. loom.ly/lm5T8cE

Why does public administration often fail despite expert control? In "The Intellectual Crisis in American Public Administration," Vincent Ostrom argued that the field adopted the wrong paradigm, treating governance as hierarchical administration rather than constitutional self-governance in a polycentric system. Building on Ostrom, Paul Dragos Aligica shows that self-governance depends on more than formal rules. It requires civic capabilities, a rich associative life, and a moral order that enables citizens to practice the art of association and self-governance.

Final call for papers! 🚨 We invite scholars, students, and practitioners to submit paper abstracts and session proposals on the role of markets and society in human life. Visit loom.ly/ZRCUTNs

Jennifer Huddleston is a Senior Fellow in Technology Policy at the Cato Institute and adjunct professor at George Mason's Scalia Law School. She credits the Bastiat Fellowship with more than just knowledge; it gave her the interdisciplinary perspective, the communication skills, and the network that launched her policy career. Bastiat Alum @jrhuddles shares her Mercatus Fellowship story. loom.ly/tC6qIzI

⏳ Deadline approaching! We invite scholars, students, and practitioners to submit paper abstracts and session proposals on the role of markets and society in human life. Visit loom.ly/syX6la4

How do we judge our own conduct? In "The Theory of Moral Sentiments," Adam Smith argued that moral judgment arises through an impartial spectator. By viewing ourselves as others would, we learn to moderate passions, cultivate self-command, and develop a sense of duty. Building on Smith, Kristen Collins shows that the impartial spectator is not an abstract rule, but a socially formed standard. Moral judgment develops through interaction, habits, and institutions that shape how individuals learn to see themselves from others’ perspectives.

Today, as faculty in the Department of Economics and Director of the Philosophy, Politics, and Economics program at Florida State, Doug teaches over 300 students each year, exposing them to the interdisciplinary thinking, institutional analysis, and appreciation for complexity he first encountered at Mercatus. Smith Alum @norton_econ shares his Mercatus Fellowship story. loom.ly/HMcJaHI

Submit your paper for the 2026 Markets & Society Conference. As Dr. Bryan Carson reflects, attending the conference has offered “new ways to advance [his] research and a stronger appreciation for the economic way of thinking.” ℹ️ Learn more here: loom.ly/XC2b4GY

⏳ Deadline approaching! We invite scholars, students, and practitioners to submit paper abstracts and session proposals on the role of markets and society in human life. Visit loom.ly/ZRCUTNs

What makes large-scale cooperation possible? In his book, "Socialism," Ludwig von Mises argued that the answer is private property. Without private property in the means of production, there can be no rational allocation of scarce resources. Building on this insight, Rosolino Candela shows that Mises' book offers not just a critique, but also a positive theory of liberalism: private property under the rule of law enables economic calculation, sustains social cooperation, and replaces privilege with contract.

When Gianna Englert joined the Adam Smith Fellowship as a Georgetown PhD student, studying 19th-century liberalism, she began a quest to understand economic liberalism's role in democratic thought that has shaped her entire career trajectory. From publishing research on Hayek to teaching philosophy, politics, economics, and law at the University of Florida's Hamilton Center. Smith Alum @GiannaEnglert shares her Mercatus Fellowship story: loom.ly/ST28vcI

The term “knowledge problem” is often associated with F.A. Hayek, but it was Don Lavoie who first popularized its usage! In "National Economic Planning: What is Left?, Lavoie builds off the ideas of Mises, Hayek, and Polanyi to challenge the notion that "non-comprehensive planning" offers a safe middle ground between state-planning and freed markets. Extending this insight, @ccoyne1 and @Abigail_R_Hall argue that cronyism would be rampant even if government were limited solely to providing core protective functions.

When Alexander Salter reflects on his time as a Mercatus PhD Fellow, he doesn’t just remember the classes or papers—he remembers the moment he realized economics was not about models, but ideas. PhD Alum Alexander Salter shares his Mercatus Fellowship story: loom.ly/EUQ1guA

Applications are open! The James Buchanan Fellowship is a one-year, competitive fellowship program awarded to scholars in any discipline who have recently graduated from their doctoral programs. Apply here: loom.ly/hJ00yeY

Applications are open! The Don Lavoie Fellowship is a competitive, semester-long program for students from any discipline interested in exploring the foundational ideas of political economy through structured readings, faculty mentorship, and rigorous discussion. Apply here: loom.ly/mR8c5Y8

The Frédéric Bastiat Fellowship didn't just provide Izabela Patriota with monthly flights from São Paulo to D.C. for colloquia; it connected her to a global network of fellows and scholars who shared her commitment to liberty. Bastiat Alum Izabela Patriota shares her Mercatus Fellowship story: loom.ly/nc018vk

Why does information fail inside bureaucracies? In Bureaucracy, Gordon Tullock explains how information gets distorted as it moves up and down hierarchical chains of command. Each layer filters, reshapes, and strategically frames what it passes along. The result? Centralized decision-makers operate on biased or incomplete knowledge—undermining effective control from the top. Building on Tullock, Stefanie Haeffele and Anne Hobson highlight a deeper problem: communication noise and limited monitoring make coordination difficult. Without the feedback mechanisms of prices and profits, agencies struggle to evaluate performance, correct errors, and adapt—even when their goals are sincere.

National Economic Planning: What Is Left?: mercatus.org/hayekprogram/re… The Political Economy of Soviet Socialism: The Formative Years, 1918-1928: mercatus.org/hayekprogram/re… Marxism and Workers' Self-Management: The Essential Tension: bloomsbury.com/us/marxism-an…

Watch "Notes on the Margin" here: piped.video/QKI52d8PSCo?si=D_iC…

At @mercatus, Daniel Smith didn't just learn research methods; he was immersed in an intellectual culture that shaped him profoundly. Today, as Director of the Political Economy Research Institute at Middle Tennessee State University, Daniel has built that same culture with his own PhD students. PhD Alum @Smithdanj shares his Mercatus Fellowship story. loom.ly/4pRWVt4

Frédéric Bastiat famously argued that political economy requires more than tallying a policy’s immediate, visible effects. It also demands attention to what is unseen: the forgone alternatives and unintended consequences that unfold over time. Extending this insight, Don Boudreaux notes that public debate often acknowledges some secondary effects but rarely traces the full chain of consequences. The economist’s role, he argues, is to follow those chains systematically and make visible the tradeoffs and indirect costs that would otherwise remain outside public view.

For Dr. Malte Dold, the Adam Smith Fellowship was more than an academic opportunity. It was a catalyst for a meaningful and unconventional career in economics. Now an Associate Professor at Pomona College, Malte credits the Mercatus Center with giving him the courage and community to pursue interdisciplinary research that bridges economics, philosophy, and psychology. Smith Alum Malte Dold shares his Mercatus Fellowship story: loom.ly/MHc3eIo