Value and Exchange

Liechtenstein has long been recognized as one of the most free and prosperous countries in the world.

There are two Coase theorems. The simplistic one deals with the unrealistic world of zero transactions costs. The more important one addresses itself to the real world, where transactions costs are positive, 

Volume 17, Number 3 (Fall 1997)

An Interview with Jeffrey M. Herbener

This short note is a contribution to the solution of the problem of indifference in Austrian economics (“Nozick’s problem”). The problem is divided into two questions:

Volume 13, Number 2

The law of association as espoused by David Ricardo and generalized by Ludwig von Mises cannot directly convey what is at stake in exchanges involving specialization in uncertainty bearing. 

One of the most important areas in which Cantillon influenced J. B.

Professor Spengler refers to Richard Cantillon as the first of the modems. Professor Tarascio presents him from a current perspective.

This note has shown that the possibility of the income effect of a price change is implied by the Misesian pure logic of choice. This note has not assumed that our individual must consume more than four loaves of bread to survive.

Böhm-Bawerk is the most important Austrian economist after Ludwig von Mises.  The author says this on the basis of the fact that his writings provide by far the best and most comprehensive development