It had been established by Robert Kephart in 1972 as a book-review magazine, initially titled SIL Book Review (2 issues), then Books for Libertarians, and was renamed with the March, 1974 issue.

[independent source needed] In the summer of 1981, the Koch Foundation, which was funding Inquiry as well as Libertarian Review, decided that it could not continue to support two magazines and folded Libertarian Review into Inquiry starting with the January 1982 issue.

However, Cato then transferred Inquiry to the Libertarian Review Foundation with the February 1982 issue.

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