Luhnow was interested in theories of political economy that are generally called "libertarian" or "classical liberal," but at various times have been called "Conservative," "neoliberal," "right-wing radical," "eighteenth- and nineteenth-century liberal," or Straussian. As Luhnow's commitment to these ideas grew, he used the Volker Fund to give sizable contributions to libertarian and conservative causes. The Fund was instrumental in bringing Friedrich Hayek to the University of Chicago. It also helped support many other classical liberal scholars who at the time could not obtain positions in American universities, such as Ludwig von Mises and Aaron Director. Through its subsidiary the National Book Foundation, the Volker Fund gave away books authored by libertarian and conservative academics to college libraries throughout the U.S. The National Book Foundation distributed books by wide range of influential authors, including Eugen von Böhm-Bawerk, Gordon H. Clark, Hayek, Mises, Roscoe Pound, Leo Strauss, Eric Voegelin, and many others.