Quarterly Journal of Austrian Economics, vol. 18, no. 4, 2015

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..

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Quarterly Journal of Austrian Economics
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Patrick Newman

This paper analyzes a recently reconstructed proto-chapter of Rothbard’s Man, Economy, and State tentatively titled “Chapter 5: Producer’s Activity.” In it, Rothbard used many concepts of standard neoclassical microeconomic analysis that he would later criticize, such as perfectly competitive markets and the isolated firm.

David Howden

The reader should trudge his way through this book for two reasons. First is the explanation for why the purchasing power of money must be defined in terms of consumers’ goods prices, not capital goods. Second, and more importantly, Braun resurrects the subsistence fund doctrine, an integral aspect of business cycle theory and completely neglected by modern writers.