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.
The QJAE Blog Editors and Editorial Board Submission Information
The Puzzle of Prison Order: Why Life Behind Bars Varies Around the World
Christopher Calton reviews David Skarbek's insightful book on prison social order, which shows how informal governance systems form and operate in a surprising environment.
The Disutility of Labor
Leisure (the state of not engaging in labor) is a necessary complementary good for consuming other goods. As such, leisure’s status as a consumer good is a priori true, not an empirical assumption.
Austrian Perspectives on Entrepreneurship, Strategy, and Organization
This book is a must-have for management and economics scholars whose research interests include Austrian economics, entrepreneurship, strategy, and organization.
The Marginal Revolutionaries: How Austrian Economists Fought the War of Ideas
Before I had read less than a hundred pages of this book, I surmised that the author was not an economist and definitely not an economist who had any “Austrian School” affiliation. Instead, I was sure he was an historian.
The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy
The good news is that Stephanie Kelton—economics professor at Stony Brook and advisor to the 2016 Bernie Sanders campaign—has written a book on modern monetary theory that is very readable, and will strike many readers as persuasive and clever. The bad news is that Stephanie Kelton has written a book on MMT that is very readable and will strike many readers as persuasive and clever.
The Disutility of Labor: A Comment on Fegley and Israel
We can easily imagine a world in which leisure does not represent the opportunity cost of labor, and that Mises and Rothbard have been misconstrued.
Corporate Risk Evaluation in the Context of Austrian Business Cycle Theory
During the boom phase of the business cycle, the economy shifts to a more risky position as the result of entrepreneurs’ profit targeting. The duration can be used to quantify this risk and to determine the discount rate for calculating the project's present value.
Income and Substitution Effects: A Rejoinder to Professor Joseph Salerno
Professor Joseph Salerno (2019) has commented on my recent reconstruction of the income effect from a causal-realist perspective (Israel, 2018b). In this rejoinder, I clarify my position and show that the main points of criticism in Salerno’s response are unfounded.
