Quarterly Journal of Austrian Economics, vol. 21, no. 3, 2018

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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Joseph T. Salerno

This paper elaborates and defends the concept of owner's rent as a return to the technical decision-making function of the owner of the firm. It argues that owner's rent is a return to unhirable labor and is separate and distinct from the profit earned by the owner in his entrepreneurial function as a forecaster of uncertain future market conditions.