Böhm-Bawerk is the most important Austrian economist after Ludwig von Mises. The author says this on the basis of the fact that his writings provide by far the best and most comprehensive development
Teaching Microeconomic Principles well, a blend of good pedagogy and good economics, is the professional obligation of many economists. Since such courses are conventionally grounded in neoclassical theory,
In response to Block and Barnett (2012), this paper clarifies some misunderstandings about the concept of transitivity and shows its relation to rationality, asynchronicity of choice
The circular-flow approach is decidedly Neoclassical, and suffers from many problems which traditional Austrians would notice. The circular-flow diagram’s greatest problem is, in fact, its circularity.
There are two Coase theorems. The simplistic one deals with the unrealistic world of zero transactions costs. The more important one addresses itself to the real world, where transactions costs are positive,
Over the span of one hundred and fifty years, dissatisfaction with one or more of the fundamental postulates of theoretical economics has given imp
Fueled by almost frantic efforts to adjust and adapt in the face of intense inter- national competition, American industry undertook an immense cor
One of the most important areas in which Cantillon influenced J. B.
Professor Spengler refers to Richard Cantillon as the first of the modems. Professor Tarascio presents him from a current perspective.
The influence of moral philosophy on the rise of laissez faire is a topic that several scholars have examined.
