I was saddened to hear of the sudden passing of David Theroux, the President of the Independent Institute. I was a professor of economics at Ball State University in Muncie, Indiana when David approached me to be the research director (later Vice-President) of II. I had great colleagues at Ball State but was never happy about living in Muncie. Nevertheless, leaving academia was a big leap. My career at the time, however, was in the doldrums and when things aren’t happening it’s good to throw some variance into the mix…so I leapt. David and his wife Mary made my wife and I feel very welcome in Oakland. I remember fondly my young children playing in their garden in their beautiful house in the Oakland hills.
David was a great intellectual entrepreneur. He was the founding Vice President for the Cato Institute and the founding President of the Pacific Research Institute for Public Policy. He started the Independent Institute on a shoestring budget in 1986, building it into a major institute that produced many important books and research articles.
Among the highlights of Independent’s extraordinary publications are Crisis and Leviathan: Critical Episodes in the Growth of American Government by Robert Higgs (1986, with a 25th anniversary edition in 2012); Antitrust and Monopoly, by Dominick Armentano (1990); Beyond Politics: The Roots of Government Failure, by Randy Simmons (updated edition 2011); Out of Work, by Lowell E. Gallaway and Richard Vedder (1997); Entrepreneurial Economics, by Alexander Tabarrok (2002); The Empire Has No Clothes, by Ivan Eland (2004); Making Poor Nations Rich, edited by Benjamin Powell (2007); The Enterprise of Law, by Bruce Benson (2011); Living Economics, by Peter J. Boettke (2012); Liberty in Peril, by Randall Holcombe (2019); and many more.
All told, Independent Institute books produced under David’s direction received more than 50 prestigious book awards, including three Eric Hoffer Book Award Grand Prizes, the Templeton Freedom Award, two Mencken Awards for Best Book, eight Sir Antony Fisher International Memorial Awards for Best Book, three Benjamin Franklin Awards, ten Independent Publisher Book Awards, the Peter Shaw Memorial Award, and three Choice Magazine Awards for Outstanding Book.
David spotted talent in other people, encouraged them, and made things happen. He was a prime mover in launching Bruce Benson’s important work on the law merchant and a big supporter of the great Robert Higgs (who started The Independent Review).
I learned a lot from David, especially about militarism and libertarian foreign policy, the marketing of ideas, and also about what it means to be an entrepreneur. I recall two instances in particular. The first was during the Microsoft trial when we had published the excellent book Winners, Losers & Microsoft: Competition and Antitrust in High Technology by Stan Liebowitz and Stephen Margolis. II opposed the antitrust case against Microsoft, seeing it as waste of resources in a rivalrous industry (in retrospect, yup we got that one right). Larry Ellison at Oracle (a Microsoft competitor) didn’t like our work and hired detectives to buy the Independent Institute’s garbage and sift through it (yes, really!) to try to discredit us. The story become a page one headline in the New York Times (Independent Institute not really Independent!). I was worried about the impact on the Institute but David always saw the positive even in “bad news.” At the time I found this frustrating as this seemed to me like a failure to see reality but David had the entrepreneur’s faith that vision, a positive attitude, and hard work can make reality. He kept calm and steered us through the difficulties to further strengths. I was wrong. David was right. He made it happen. The second time was when II was launching its scholarships for low-income children to attend private schools in Oakland. I sketched out a careful, well-thought out plan to get us ready to go in a year. David said no, “I want it ready in six weeks!”. I thought this was insane. But we did it! No surprise that David was an entrepreneur and I was an academic. Ultimately, of course, I returned to academia by moving to GMU but not before learning many valuable lessons from David and my years at the Independent Institute.
He will be missed.