Austrian Economics Overview

Mainstream economists are especially critical of Austrians for their lack of desire to incorporate mathematics in general, and multivariable calculus in particular, into their economic analysis. The criticism goes something like this: It does not matter whether or not mathematics is the most appropriate tool to describe economic human action. What matters is that most economists do use math, it has passed the "market test," and, therefore, it is the correct tool to use.

Like Gilbert Ryle, under whom he studied at Oxford, Antony Flew is ever alert to "systematically misleading expressions." Flew’s careful attention to the nuances of ordinary language, on full display in the present book,

Professor Kirzner’s outstanding book "aims to present, in briefest outline ... the story of Mises in his role of economist" (emphasis removed). In this task, it is eminently successful. 

Professor Reisman centers his enormous book about a key insight: It is capitalists who run the capitalist system. (He has been greatly influenced by Ayn Rand,

In 1940, Mises set out to explain the errors of "middle-of-the-road" policies. He ended up writing the history of the next ten years before they occurred. Robert Murphy is the reviewer.

In a masterly essay included in The Driving Force of the Market, Israel Kirzner asks whether Hayek can best be seen as a hedgehog, who sees one big thing, or as a fox, who sees many things.

A notable biography of Hayek does not make a fair, generous, and reasoned attempt to present the ideas of the individual whose life story is being told. Richard Ebeling is the reviewer.

Four hundred freedom-minded intellectuals gathered at the most recent meeting in Santiago, Jon Basil Utley reports. 

Back in Print: A book by Murray N. Rothbard that shaped a generation of intellectuals and laid the groundwork for a revolt against centralized social and economic management.

New approaches to cost accounting show market forces impacting upon the quality of economic calculation itself. New in the QJAE.