The Review of Austrian Economics, the predecessor to the Quarterly Journal of Austrian Economics
The Review of Austrian Economics, the predecessor to the
Quarterly Journal of Austrian Economics, was
founded and edited by Murray N. Rothbard and functioned as the premier Austrian School scholarly journal between 1987
and 1997. After 1995, it was edited by Walter Block, Hans-Hermann Hoppe, and Joseph T. Salerno.
Published first by Lexington Books and later by Kluwer Academic Publishers, the journal played a central role in
attracting a new generation of economists to the theoretical foundations established in the work of Carl Menger and
Ludwig von Mises. It is now permanently archived on this site.
Global Table of Contents
Volume 1
Introductory Editorial
Murray N. Rothbard and Walter Block
Editorial: The Inflationary Chaos
Ahead
Henry Hazlitt
ARTICLES
Why Subjectivism?
Leland Yeager
Wages, Prices, and Unemployment: Von Mises and the
Progressives
Lowell Gallaway and Richard K. Vedder
A Critique of Monetarist and Austrian Doctrines on
the Utility and Value of Money
Richard H. Timberlake, Jr.
Breaking Out of the Walrasian Box: The Cases of
Schumpeter and Hansen
Murray N. Rothbard
Two Forgotten Articles by Ludwig von Mises on the
Rationality of Socialist Economic Calculation
William Keizer
Rent Seeking: Some Conceptual Problems and
Implications
E.C. Pasour, Jr.
Some Austrian Perspectives on Keynesian Fiscal
Policy and the Recovery in the Thirties
Gene Smiley
GNP, PPR, and the Standard of
Living
Robert Batemarco
REVIEW ESSAYS
The Economics of Time and Ignorance: A
Review
Charles W. Baird
Method versus Methodology: A Note on The Ultimate
Resource
M.W. Sinnett
REVIEWS
The Evolution of Cooperation
Roger Arnold
Competition versus Monopoly: Combines Policy in
Perspective
Roger Arnold
A Response to the Framework Document for Amending
the Combines Investigation Act
Roger Arnold
Writing History: Essay on
Epistemology
Edward H. Kaplan
The Unseen Dimensions of Wealth: Towards a
Generalized Economic Theory
Edward H. Kaplan
VOLUME 2
ARTICLES
The Economic Calculation Debate: Lessons for
Austrians
Israel M. Kirzner
Praxeology and Understanding: An Analysis of the
Controversy in Austrian Economics
G.A. Selgin
Competition and Political Entrepreneurship:
Austrian Insights into Public-Choice Theory
Thomas J. DiLorenzo
Why the Austrians Are Wrong About
Depressions
Gordon Tullock
"Social Utility" and Government Transfers of
Wealth: An Austrian Perspective
David Osterfeld
Austrian Methodology: The Preferred Tax
Type
Jeffrey Herbener
The Neglect of the French Liberal School in
Anglo-American Economics: A
Critique of Received Explanations
Joseph T. Salerno
The Austrian Economists and the Late Hapsburg
Viennese Milieu
Arthur M. Diamond, Jr.
NOTES AND REPLIES
Hayek's "The Trend of Economic
Thinking"
Bruce J. Caldwell
Timberlake on the Austrian Theory of Money: A
Comment
Murray N. Rothbard
Reply to Comment by Murray N.
Rothbard
Richard H. Timberlake, Jr.
On Yeager's "Why Subjectivism?"
Walter Block
Reply to Comment by Walter
Block
Leland B. Yeager
Saving the Depression: A New Look at World War
II
Mark Skousen
BOOK REVIEWS
The Myth of Free Banking in
Scotland
Murray N. Rothbard
White's Free-Banking Thesis: A Case of Mistaken
Identity
Larry J. Sechrest
A Critique of What Do Unions
Do?
Morgan Reynolds
The Crash and Its Aftermath: A Review
Article
Clifford F. Thies
Berger on Capitalism
David Gordon
VOLUME 3
IN MEMORY
A Tribute to W.H. Hutt
Morgan O. Reynolds
ARTICLES
The Austrian Theory of the Business Cycle in the Light
of Modern Macroeconomics
Roger W. Garrison
A Subjectivist Perspective on the Economics of
Crime
Samuel Cameron
The Hermeneutical Invasion of Philosophy and
Economics
Murray N. Rothbard
Antitrust Reform: Predatory Practices and the
Competitive Process
Dominick T. Armentano
Why the U.S. Economy Is Not
Depression-Proof
Mark Skousen
The Efficient-Markets Hypothesis and
Entrepreneurship
E.C. Pasour, Jr.
Trade Unions: The Private Use of Coercive
Power
W.H. Hutt
NOTES AND REPLIES
Mises on the Evenly Rotating
Economy
J. Patrick Gunning
Subjective Cost Revisited
William Barnett II
Reply to Comment by William Barnett
II
Leland B. Yeager
Comment on Tullock's "Why Austrians Are Wrong
About Depressions"
Joseph T. Salerno
Reply to Comment by Joseph T.
Salerno
Gordon Tullock
Comment on Professor Timberlake's Squared Rule for
the Equilibrium Value for the Marginal Utility of Money
William Barnett II
Marginal Utility Equilibrium between Money and
Goods: A Reply to Professor Barnett's Criticism
Richard H. Timberlake, Jr.
Professor Caldwell on Ludwig von Mises'
Methodology
J. Patrick Gunning
BOOK REVIEW ESSAYS
In Defense of Extreme Rationalism: Thoughts on Donald
McCloskey's The Rhetoric of Economics
Hans-Hermann Hoppe
A Look at Subjectivism, Intelligibility, and
Economic Understanding: Essays in Honor of Ludwig M. Lachmann on his Eightieth Birthday
Walter Block
BOOK REVIEWS
You'll Find It in The New Palgrave
Mark Skousen
The Origins of Language: A
Review
David Gordon
The Politics of Hunger: A
Review
Ralph Raico
VOLUME 4
ARTICLES
Eugen Richter and Late German Manchester Liberalism: A
Reevaluation
Ralph Raico
Ludwig von Mises as Social
Rationalist
Joseph T. Salerno
Banking, Nation States and International Politics:
A Sociological Reconstruction of the Present Economic Order
Hans-Hermann Hoppe
National Goods versus Public Goods: Defense,
Disarmament, and Free Riders
Jeffrey Rogers Hummel
Karl Marx: Communist as Religious
Eschatologist
Murray N. Rothbard
The Subjectivist Roots of James Buchanan's
Economics
Thomas J. DiLorenzo
NOTES AND COMMENTS
The DMVP-MVP Controversy: A Note
Walter Block
Misconceptions about Austrian Business Cycle
Theory: A Comment
James Clark and James Keeler
BOOK REVIEWS
Gary B. Madison. Understanding: A
Phenomenological-Pragmatic Analysis
Reviewed by David Gordon
Thomas Sowell. A Conflict of
Visions
Reviewed by David Gordon
David Conway. A Farewell to
Marx
Reviewed by David Gordon
Richard L. Lucier. The International Political
Economy of Coffee
Reviewed by E.C. Pasour, Jr.
Walter Block and Llewellyn H. Rockwell, Jr., eds.
Man, Economy, and Liberty
Reviewed by Hans-Hermann Hoppe
VOLUME 5.1
ARTICLES
Eighteen Problematic Propositions in the Analysis of
the Growth of Government
Robert Higgs
An Evolutionary Contractarian View of Primitive
Law: The Institutions and Incentives Arising Under Customary Indian Law
Bruce L. Benson
Austrian Capital and Interest theory: Wieser's
Contribution and the Menger Tradition
A.M. Endres
New Classical and Old Austrian Economics:
Equilibrium Business Cycle Theory in Perspective
Roger W. Garrison
REVIEW ESSAY
Marxism, Capitalism, and Mercantilism A Review of
Traders Versus the State, by Garcia Clark
David Osterfeld
BOOK REVIEWS
Israel M. Kirzner. Discovery, Capitalism, and
Distributive Justice
Reviewed by David Gordon
Philip Mirowski. More Heat Than Light: Economics
as Social Physics, Physics as Nature's Economics
Reviewed by David Gordon
Robert Formaini. The Myth of Scientific Public
Policy
Reviewed by David Gordon
Morris Silver. Fountains of Economic
Justice
Reviewed by David Gordon
VOLUME 5.2
ARTICLES
The Great Depression of 1946
Richard K. Vedder and Lowell Gallaway
Ludwig von Mises and the Austrian School of
Economics
Jeffrey M. Herbener
The End of Socialism and the Calculation Debate
Revisited
Murray N. Rothbard
De-Socialization in a United
Germany
Hans-Hermann Hoppe
NOTES AND REPLIES
The Preferred Tax Type: Comment on
Herbener
Alexander Tabarrok
Comment on Preferred Tax Type: Reply to
Tabarrok
Jeffrey M. Herbener
BOOK REVIEWS
Bettina Bien Greaves, ed., Ludwig von Mises, Economic
Freedom and Interventionism: An Anthology of Articles and Essays
Reviewed by Roger W. Garrison
Donald N. McCloskey. If You're So Smart: The
Narrative of Economic Expertise
Reviewed by David Gordon
Jonathan Wolff. Robert Nozick: Property, Justice,
and the Minimal State
Reviewed by David Gordon
VOLUME 6.1
ARTICLES
The Development Of Keynes's Economics: From Marshall
to Millennialism
Joseph T. Salerno
How and How Not To Desocialize
Murray N. Rothbard
The Role of Entrepreneurship in
Desocialization
Jeffrey M. Herbener
REVIEW ESSAY
Aurophobia: or, Free Banking on What Standard? A
Review of Gold, Greenbacks, and the Constitution, by Richard H. Timberlake
Murray N. Rothbard
BOOK REVIEWS
Bruce L. Benson. The Enterprise of
Law
Reviewed by David Gordon
Paul Edward Gottfried. Carl Schmitt: Politics and
Theory
Reviewed by David Gordon
Donald R. Hoke. Ingenious Yankees: The Rise of the
American System of Manufactures in the Private Sector
Reviewed by Murray N. Rothbard
David Schmidtz. The Limits of
Government
Reviewed by David Gordon
VOLUME 6.2
ARTICLES
Ludwig von Mises on Principle
Larry J. Eshelman
The Impetus for Recognizing Private Property and
Adopting Ethical Behavior in a Market Economy: Natural Law, Government Law, or Evolving
Self-Interest
Bruce L. Benson
The Protectionist Roots of
Antitrust
Donald J. Boudreaux and Thomas J. DiLorenzo
REVIEW ESSAYS
Toward a Deconstruction of Utility and Welfare
Economics
David Gordon
Mises and Hayek Dehomogenized
Joseph T. Salerno
BOOK REVIEWS
Tibor Machan. Capitalism and
Individualism
Reviewed by David Gordon
Henry B. Veatch. Swimming Against the Tide in
Contemporary Philosophy
Reviewed by David Gordon
VOLUME 7.1
ARTICLES
Hyperinflation and Hyperreality: Thomas Mann in Light
of Austrian Economics
Paul A. Cantor
The Theory of the Firm: The Austrians as
Precursors and Critics of Contemporary Theory
Nicolai Juul Foss
F.A. Hayek on Government and Social Evolution: A
Critique
Hans-Hermann Hoppe
The Philosophical Contributions of Ludwig von
Mises
David Gordon
The Contributions of W.H. Hutt
John B. Egger
NOTE
A Note on Jean-Baptiste Say and Carl Menger Regarding
Value
Kenneth K. Sanders
BOOK REVIEW
Mark A. Kleiman. Against Excess: Drug Policy for
Results
Reviewed by Mark Thornton
VOLUME 7.2
ARTICLES
Banning a Risky Product Cannot Improve Any Consumer's
Welfare (Properly Understood), with Applications to FDA Testing Requirements
Robert Higgs
Slavery, Profitability, and the Market
Process
Mark Thornton
How is Fiat Money Possible?-or, The Devolution of
Money and Credit
Hans-Hermann Hoppe
The Consumption Tax: A Critique
Murray N. Rothbard
NOTES AND REPLIES
Mises and Hayek on Calculation and
Knowledge
Leland B. Yeager
Reply to Leland B. Yeager
Joseph T. Salerno
The Philosophy of Austrian
Economics
Barry Smith
Second Thoughts on The Philosophical Origins of
Austrian Economics
David Gordon
VOLUME 8.1
ARTICLES
The Federal Reserve: Then and Now
Roger W. Garrison
Sticky Wages, Efficiency Wages, and Market
Process
Don Bellante
Total Repeal of Antitrust Legislation: A Critique
of Bork, Brozen, and Posner
Walter Block
Ludwig von Mises's Monetary Theory in Light of
Modern Monetary Thought
Joseph T. Salerno
Justice and Redistributive Taxation: James
Buchanan versus Ludwig von Mises
David Gordon
VOLUME 8.2
ARTICLES
Arthur Marget in the Austrian Tradition of the Theory
of Money
John B. Egger
A Critical Analysis of Central Banks and
Fractional-Reserve Free Banking
Jesús Huerta de Soto
Egalitarianism and the Elites
Murray N. Rothbard
NOTES AND REPLIES
Ethics, Efficiency, Coasian Property Rights, and
Psychic Income: A Reply to Harold Demsetz
Walter Block
Information and the Market Economy: A Note on a
Common Marxist Fallacy
Nicolai Juul Foss
BOOK REVIEW
James M. Buchanan. Ethics and Economic
Progress
Reviewed by David Gordon
VOLUME 9.1
ARTICLES
Free Banking and the Free Bankers
Jörg Guido Hülsmann
Portfolio Management of the Free Banks of
Illinois: An Examination of Historical Allegations
Salim Rashid and Abdus Samad
Hayek, Business Cycles, and Fractional Reserve
Banking: Continuing the De-Homogenization Process
Walter Block and Kenneth M. Garschina
The Myth of the Income Effect
Pascal Salin
Hayek: Some Missing Pieces
Anthony de Jasay
Vertical Restraints and the Retail Free Riding
Problem: An Austrian Perspective
David W. Boyd
NOTES AND REPLIES
Rejoinder: Salerno on Calculation, Knowledge, and
Appraisement
Leland B. Yeager
A Final Word: Calculation, Knowledge, and Appraisement
Joseph T. Salerno
Socialism: A Property or Knowledge
Problem?
Hans-Hermann Hoppe
Calculation and the Question of
Arithmetic
Jeffrey M. Herbener
REVIEW ESSAYS
Keynes Was a Keynesian
Roger W. Garrison
Intimidation by Rhetoric
Murray N. Rothbard
BOOK REVIEW
Murray N. Rothbard. Economic Thought Before Adam
Smith (vol. I) and Classical Economics (vol. II)
Reviewed by Leland B. Yeager
VOLUME 9.2
Dedicated to the Memory of Murray N. Rothbard
ARTICLES
Economic Calculation and the Limits of
Organization
Peter G. Klein
Cartels as Efficient Productive
Structures
Pascal Salin
The Myth of Natural Monopoly
Thomas J. DiLorenzo
New Light on the Prehistory of the Theory of
Banking and the School of Salamanca
Jesùs Huerta de Soto
In Defense of Fiduciary -- Media or, We Are Not
Devo(lutionists), We Are Misesians!
George Selgin and Lawrence H. White
Central Banking, Free Banking, and Financial
Crises
Roger W. Garrison
Who Owes What, and To Whom? Public Debt, Ricardian
Equivalence, and Government Form
Richard E. Wagner
Reflections on the Misesian Legacy in
Economics
Israel M. Kirzner
VOLUME 10.1
ARTICLES
A Theory of the Theory of Public
Goods
Randall G. Holcombe
Knowledge, Judgement, and the Use of
Property
Jörg Guido Hülsmann
On Certainty and Uncertainty, Or: How Rational
Can Our Expectations Be?
Hans-Hermann Hoppe
The Pareto Rule and Welfare
Economics
Jeffrey M. Herbener
The Recession of 1990: An Austrian Explanation
Arthur Middleton Hughes
NOTES AND REPLIES
How Different Were Röpke and
Mises?
Ivan Pongracic
Calculation and Knowledge: Let's Write
Finis
Leland B. Yeager
BOOK REVIEWS
Frank M. Machovec. Perfect Competition and the
Transformation of Economics
Reviewed by William D. Curl
Paul Krugman. Pop
Internationalism
Reviewed by David Gordon
Robert Skidelsky. The Road From Serfdom: The
Economic and Political Consequences of the End of Communism
Reviewed by David Gordon
VOLUME 10.2
ARTICLES
The Option Clause in Free-Banking Theory and
History: A Reappraisal
Parth Shah
In Defense of Fundamental Analysis: A Critique of
the Efficient Market Hypothesis
Frank Shostak
Government Family Planning: Effects and
Incentives
Jacqueline R. Kasun
NOTES AND REPLIES
Statistical Malfeasance and Interpreting Economic
Phenomena
Richard Vedder
Some Austrian Perspectives on Unintended
Consequences
Lowell Gallaway
Block's Erroneous
Interpretations
Harold Demsetz
Fiat Money as an Administrative
Good
Yuri Kuznetsov
BOOK REVIEWS
George Reisman. Capitalism: A Treatise on
Economics
Reviewed by Alexander Tabarrok
Karen I. Vaughn. Austrian Economics in America:
The Migration of Tradition
Reviewed by Robert Ekelund, Jr.