Quarterly Journal of Austrian Economics - Single Articles

We must all be grateful to Professors Walter J. Blum and Harry J. Kalven, Jr. for providing in a brief space a cogent review and critique of the various arguments for progressive taxation

In the 1930's the Austrian School of economics lived through a crucial phase in its development, which led from the height of its influence at the beginning of the decade to its decline and dissolution after 1945.

As substantial as economist as Schumpeter could claim that interest is a disequilibrium phenomenon and fantasize about a long-run equilibrium where market forces have pushed the interest rate to zero. 

In this paper we tackle two shortcomings of the present efficiency wage models. Firstly, they do not fully account for labor heterogeneity, thus implying that high-effort and low-effort units of labor are interchangeable.

The essential reason that a 100-percent-reserve gold standard should be the ultimate goal of monetary reform is that is would secure the economic system against the evils both of inflation and of deflation-depression. 

Ludwig von Mises established the foundations of modem Austrian economics while Irving Fisher established the foundations of modem mainstream macroeconomics and central bank policy. 

This article provides a new synthesis between the strategic management literature and Austrian capital theory.  The resource allocation process plays out in the context of differing subunit preferences

The “values-riches” model, on the other hand, seeks to display the relations between the great macroeconomic nominal variables (“values”) and the flows of quantities of consumer goods (“riches”).

The notion that so-called asymmetric information is a source of market failure is deeply flawed. Asymmetric information is essentially a synonym for “the division of  knowledge (and labor) in society,”

We have tried to take Caplan to task for his many errors of omission and commission. Nevertheless, we think his was a very worthwhile article. Why? First, its quality.

Fiscal Sociology and the Theory of Public Finance merits the serious attention of scholars interested in public economics, Austrian economics, and libertarianism alike.

Fiscal policy means simply that the government steals the public’s assets (taxes them), and then either spends the money itself  or donates the funds to others 

This paper contrasts mainstream analysis of the recent boom/bust episode and its massive interventions with Austrian business cycle theory (ABCT). 

Using Mises’s concept of economic calculation, this paper explains why conglomerates are frequently observed in emerging economies across the world.

While corporate income taxation is a major issue in the debate over international finance, economic theory has no clear stance on who bears its burden.

Scholars of Austrian economics argue persuasively that formal models are not able to capture the complex dynamics of market processes.

Almost all contemporary Austrian economists are united in their opposition to central banking and their advocacy of a system of free competitive banking.

Austrian business cycle theory has been criticized on the basis of “rational expectations.” That is, reasonably high quality entrepreneurs—which are required for economic growth

 Both the Quarterly Journal of Austrian Economics and the Review of Austrian Economics are now publishing regularly and have been doing so ever since their respective inceptions. 

Entrepreneurs exploit market opportunities and innovate to achieve or maintain strategic advantage over their competitors.In the absence of government regulation,