In my book, Living Economics: Yesterday, Today and Tomorrow, I employ the distinction between mainline and mainstream economics. The language of mainline economics comes from one of my teachers -- Kenneth Boulding -- and you can find this disctinction in my own work surfacing through the years as I sought to stress the historically orthodox nature of the work of Menger, Mises and Hayek, though its contemporary out-of-sync position. But the terms took on a new significance for me after contemplating this mural at UFM everyday for a two-week period roughly 2 years ago during a visit there with Chris Coyne.
It was during that trip that the idea of Living Economics came into existence. The book was eventually co-published by the Independent Institute and UFM Press, and its release coincided with my earning an honorary doctorate at UFM in May 2012. Clearly, this is one of the real highlights of my professional life as I joined a list of economists that includes F. A. Hayek, Armen Alchian, James Buchanan, Harold Demsetz, Milton Friedman, Israel Kirzner, and Vernon Smith. UFM is a beacon of free market ideas throughout Latin American, and its founder Manuel Ayau was a major champion for liberty as Mary O'Grady described in her WSJ obituary.
The vision of Manuel Ayau and the dedication of the people to quality economic education that Chris and I witnessed at UFM made me decide that for Living Economics I would donate all my royalties to the Friends of UFM, and the Manuel Ayau Society in particular.
Please consider purchasing a copy of Living Economics (available at the Independent Institute, but also at Amazon, Barnes & Nobel, etc., and in hardback, paperback and e-book formats) as a way to indirectly support the mission of UFM. You can also contibute directly to UFM by following the instructions on the link provided above. Any size gift will be appreciated.
The good people at UFM are amazingly dedicated to the high quality teaching of the mainline of economic thought and the moral principles and the political and social theory of a society of free and responsible individuals. They have earned my admiration and respect, and I want to encourage everyone to provide their intellectual, spiritual, and financial support. My greatest hope for the future is to see the educational vision of Manuel Ayau and the example of UFM spread throughout the world, and that the teachings of mainline economics from Adam Smith to our day captures the intellectual imagination of contemporary and future generations of students, and that the living body of mainline economic thought will continue to grow and flourish through their studies and work.
This mural is a great place to start, and I encourage all the students out there to head to their college/university library as soon as it opens after break and pick up all the works mentioned and work their way through them. This is how they will gain a lasting knowledge-base for becoming great students of mainline economics and eventually outstanding communicators of the core principles of economics and political economy.