About the 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’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 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, 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 will achieve these ends by utilizing:
Faculty: The Institute is actively recruiting and will attract leading scholars in various fields related to the study of free market economics to become faculty members at Texas Tech.
Research Projects: The Institute will support research projects aimed at better understanding the operation of markets and their advantages relative to other coordination processes. The Institute will encourage scholars at Texas Tech and other universities to join in collaborative research efforts.
Public Speaker/Visiting Scholars Program: The Institute will host scholars from around the world who will deliver public lectures and advance the Institute's research mission.
Graduate Programs: The Institute will award fellowships to promising doctoral students who will become researchers and teachers at other domestic and international institutions.
High School Outreach Programs: The Institute will coordinate with K-12 institutions and home schooling coalitions to develop programs that strengthen pre-college economic education.
Technologically-Interfaced Learning: The Institute maintains www.fmi.ttu.edu providing information about programming, a catalog of recorded programs, an archive of outreach efforts and a listing of student resources.
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 Free Market Institute has the ability to place Texas Tech at the pinnacle of universities constructively addressing the challenges of modern economies.
Ultimately, our 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 the future growth of the Institute. Board members include individuals from the Texas Tech University community as well as other academic and business communities. Members are listed below.
Dr. Robert Duncan - Vice President for Research, Texas Tech University
Dr. Benjamin W. Powell - Director, Free Market Institute/Visiting Professor, Rawls College of Business, Texas Tech University
Dr. Eduardo Segarra - Professor, Department of Agricultural and Applied Economics, Texas Tech University
Mr. F. Scott Dueser - Member, Board of Directors, Texas Tech Foundation/Former Chairman, Board of Regents, Texas Tech University System/Chairman, President & CEO, First Financial Bankshares, Inc.
Dr. Jerry R. Goolsby - Alumnus (BA/MBA/PhD), Texas Tech University/Graduate Programs Director and Hilton/Baldridge Eminent Scholar, Loyola University New Orleans
Dr. Peter Boettke - University Professor of Economics & Philosophy, Economics Department, George Mason University
Dr. J.R. Clark - Scott L. Probasco, Jr. Chair of Free Enterprise, College of Business, University of Tennessee Chattanooga