The Quarterly Journal of Austrian Economics (QJAE) is a refereed journal that promotes the development and extension of Austrian economics and the analysis of contemporary issues in the mainstream of economics from an Austrian perspective..
Industrial Employment and the Policies of Herbert C. Hoover
Most historians claim that Herbert Hoover adhered to a policy of laissez faire after the stock market crash of 1929. This laissez faire policy is allegedly responsible for the severity and persistence of unemployment
Dimensions and Economics: Some Problems — Errata
The economics profession has attempted to achieve the degree of success in understanding, explaining, and predicting events in the social world that physicists and engineers have achieved
Deflation Teaser? Klondike Bars and the Golden 90s in Canada
In an age when deflation is widely feared and the threat of deflation serves as a justification for radical policy proposals, Bordo and Redish have done a great service in showing that deflation is not harmful to the economy,
Review of Deflation: Current and Historical Perspectives by Richard C.K. Burdekin and Pierre L. Siklos, eds.
The book Deflation: Current and Historical Perspectives, dedicated to the history and economics of the phenomenon of falling prices, is composed of 11 contributions by 20 economists
Libertarians and Liberalism: Essays in Honour of Gerard Radnitzky, edited by Hardy Boullion
This Festschrift is dedicated to one of the outstanding champions of liberty in Germany. For most of his scientific life, Gerard Radnitzky has been known as a philosopher of science in the tradition of Karl Popper.
Monetary Orders and Institutions: A Hayekian Perspective
An adaptive systems approach is used to compare a free banking system and a central banking regime with respect to their respective capacities to use and generate relevant knowledge.
Review of Benjamin Powell (ed): Making Poor Nations Rich: Entrepreneurship and the Process of Economic Development
Making Poor Nations Rich is a serious attempt to further develop the theory of entrepreneurship. Fourteen chapters of the book cover the most important issues of our time: wealth and poverty of nations,
Relevance as a Virtue in Economics
Dr. Sennholz, successfully blended his knowledge of the science of economics with a deep commitment to the moral principles governing a society of free and responsible individuals.
Deflation and Japan Revisited
This paper proceeds by explaining deflation and aggregate price determination in more detail. Then, some facts about the development of Japan, 1990–2001, are provided, together with an extensive interpretation
Rothians versus a Rothbardian. Review of Walter Block’s The Privatization of Roads and Highways, Human and Economics Factors and Gabriel Roth, ed., Street Smart, Competition, Entrepreneurship, and the Future of Roads
Carnis reviews these two significant and imposing works that were published almost at the same time and are directed to readers interested in the topic of road infrastructure management.
The Origins of the Federal Reserve
The financial elites of this country, notably the Morgan, Rockefeller, and Kuhn, Loeb interests, were responsible for putting through the Federal Reserve System, as a governmentally created and sanctioned cartel
A Capital-Based Theory of Secular Growth
Roger Garrison (2001) provides a welcome diagrammatic exposition of Austrian, capital-based macroeconomics. The exposition attempts to account not only for Austrian business cycles (ABCs), but also for long-run, secular growth.
Review of Antifragile: Things that Gain, by Nassim Nicholas Taleb
No two buzzwords define the present crisis more than contagion and robustness in the world of economists and policy works.
The Two Contributions of Garrison’s Time and Money
Garrison's Time and Money picks up where Hayek left off, developing a macroeconomic model based on Austrian capital theory that provides significant insights into macroeconomic phenomena.
If a Pure Market Economy Is So Good, Why Doesn’t It Exist? The Importance of Changing Preferences Versus Incentives in Social Change
Many economists argue that a pure market economy cannot come about because people will always have incentives to use coercion.
Entrepreneurship, Economic Evolution, and the End of Capitalism: Reconsidering Schumpeter’s Thesis
This paper seeks to explore and to critically evaluate, from an economic standpoint, Joseph Schumpeter’s theory of the decline of capitalism, as put forward in his Capitalism, Socialism, and Democracy.
Dimensions and Economics: Some Answers
William Barnett’s critique of mathematics in economic analysis, “Dimensions and Economics: Some Problems,” claims that economics almost always uses functions and equations without paying any attention
The Subprime Crisis
This article offers an analysis of the causes of the subprime crisis, explaining that it is not an isolated incident and that we should concentrate our attention on the Fed’s monetary policy
Post-Modern Economics: The Return of Depression Economics by Paul Krugman
While damning the free market with the faintest of praise, Krugman’s book provides us with an excellent example of why it is so important to get the analysis right before prescribing policy solutions for an economic problem.
Coordination Failures, Cluster Theory, and Entrepreneurship: A Critical View
In the last decades, more and more economists have advanced the idea that significant obstacles impeding economic growth (especially in less developed regions) consist in different market failures,