About the Free Market Institute

Vision and Mission

The mission of the Free Market Institute at Texas Tech is to advance the teaching of and research directly related to the virtues of free markets. The Institute promotes scholarship that crosses disciplinary boundaries, providing a forum that encourages and values discussion and rigorous debate regarding all aspects of free markets.

The Free Market Institute builds on Texas Tech University's strengths across colleges and professional fields, aligning the efforts of existing university programs and aiming to become a top university in the world for studying free market economics.

The Free Market Institute’s teaching and research mission is premised on a belief that a thorough and consistent understanding and application of the principles of a free society—supported by a long tradition of economic and social scientific scholarship—enables the continuous improvement of economic, political and social outcomes and the maintenance and proliferation of a stable and widely shared prosperity.

Institute Initiatives and Activities

The Free Market Institute provides the mechanisms for students to learn about, discuss and research theories that expound the dynamics and stability of free markets. The Institute coordinates educational programs and research initiatives that engage Texas Tech University, the broader Lubbock community, and public and scholarly communities across the nation and the world. Through coordinated technology-interfaced efforts, classroom instruction, associated lectures and programs will be made available to a worldwide audience.

The Institute achieves these ends through:

  • Teaching — Institute faculty and staff offer courses for undergraduate and graduate students through existing academic departments.

  • Faculty — The Institute recruits emerging scholars and recognized experts in free market economics to join the university faculty.

  • Research — Institute faculty and staff develop and execute both independent and collaborative research programs aimed at better understanding the operation of markets and related institutions.

  • Public Speaker Series/Visiting Scholars Program — The Institute hosts scholars from around the world who deliver public lectures and advance the Institute's research and outreach missions.

  • Graduate Programs— The Institute awards fellowships to promising doctoral students who will become researchers and teachers at other domestic and international institutions.

  • Media Outreach— The Institute produces Free to Exchange, an interview-based program, with KTTZ-TV, a local PBS affiliate. Faculty and staff members write op-eds and give television and radio interviews on current public policy issues.

Through a systematic approach of joining diverse parts of the university into a comprehensive effort to better understand and explain the societal benefits of market exchange, entrepreneurship and innovation, the faculty and staff of the Free Market Institute are working to place Texas Tech University at the pinnacle of universities constructively addressing the challenges of modern economies.

The ultimate goal is to establish the Free Market Institute as a world-leading institution for the study of free market economics and the principles of a free society that will attract leading scholars and promising students to promote interdisciplinary cooperation in the understanding and resolution of complex social problems.

Board of Directors

The Board of Directors for the Free Market Institute will provide advice and counsel on the Institute's affairs and play an important role in its future growth. Board members include individuals from the Texas Tech University community as well as other academic and business communities. Current board members are listed below.

  • Robert Duncan — Senior Vice President for Research at Texas Tech University

  • Benjamin Powell — Director of the Free Market Institute and Professor of Economics in the Jerry S. Rawls College of Business Administration at Texas Tech University

  • Eduardo Segarra — Professor of Agricultural and Applied Economics in the College of Agricultural Sciences and Natural Resources at Texas Tech University

  • F. Scott Dueser — Former Chairman of the Board of Regents at Texas Tech University System and Chairman, President & CEO at First Financial Bankshares, Inc.

  • Jerry Goolsby — Alumnus (B.A./M.B.A./Ph.D.) of Texas Tech University and Hilton/Baldridge Eminent Scholar (retired) at Loyola University New Orleans

  • Peter Boettke — University Professor of Economics and Philosophy at George Mason University

  • J.R. Clark — Scott L. Probasco, Jr. Chair of Free Enterprise at University of Tennessee at Chattanooga

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