Quarterly Journal of Austrian Economics - 2015 V-18 I-04

Mises’s unique social theory does not appear to have had any precursors. However, the French liberal Destutt de Tracy, is one author who preceded and shared Mises’s rationalist views on society.

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.

It is a shame that most economic students, whether at the undergraduate or graduate student level, are exposed to precious little about the different schools of economic thought.

The importance of economic messages in media has not been lost on Austrian economists. Mises, for example, had much to say throughout his career about the importance of novels and the media in shaping people’s ideas about political economy.

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.

Doing Bad by Doing Good is an accessible treatment of a major foreign-policy problem from a perspective solidly grounded in the tradition of Austrian economic thought.

The aftermath of the recent recession has brought renewed skepticism to EMH, even leading some to redefine it as the “inefficient” market hypothesis. We demonstrate that such a course of action is misguided.

The paper aims to defend the general validity of the ABCT against the assumption that the theory does not hold if entrepreneurs are able to anticipate correctly the inflationary effects of a fiduciary credit expansion.