Richard B. McKenzie grew up in an orphanage in the United States during the 1950s. He went on to complete a PhD in economics at the Virginia Polytechnic Institute and State University.

He is the author of more than 30 books, many on economics.

McKenzie has also written a memoir of growing up in an orphanage and a history of American orphanages.

He is currently Professor Emeritus in the Paul Merage School of Business at the University of California, Irvine (amongst other positions).