Quarterly Journal of Austrian Economics - Single Articles

Economic growth is determined by two elements, by (a) by the available quantities of goods that can be used in the productive process and (b) by the adroitness with which these available factors of production are combined.

Between 1830 and 1903, Sweden experienced one of the longest and most successful free-banking periods in history. During this period, private note issuing banks were allowed and prospered. 

Authors, Ekelund and Price have produced an engrossing and informative study of the economic life and times of Edwin Chadwick. Scholars interested in economic policy and reform, the history of industrialization,

It is within the bowels of government where the real yes-men problem lies. Here, there is no automatic feedback mechanism of the market to rely upon, to quell any incipient tendencies in the direction of yes-manning.

Bank clearinghouse associations provided critical emergency services to their member banks during times of crisis. However, these associations, and the New York City Bank Clearinghouse Association (NYCHA) in particular,

In this article, the prime concepts are based on the Mises-Hayek theory of the business cycle.  Using this model as the general framework for analysis, additions and modifications are introduced reflecting theoretical advances and current problems

Kaza reviews Alan Greenspan's book The Age of Turbulence: Adventures in a New World. Kaza asks "Which social acquaintance will defend Greenspan against the charge the seeds of the greatest 

Austrian business cycle theory (ABCT), we contend, is essential to understanding the recent boom and bust cycle in the American (and, to a great extent, the global) economy.

Throughout much of modern history, gold served as the commodity that most widely facilitated free exchange. While its virtues as a medium-of-exchange were clear to people of previous eras, gold has fallen out of favor,

In a recent article appearing in this journal, Douglas MacKenzie (2010) argues that President Hoover’s business conferences artificially propped up wages in the early years of the Depression,

Persons with an Austrian perspective must evaluate the probability that an Austrian message will reduce their publication chances in mainstream journals.

Fritz Machlup distinguished himself in several main areas, including industrial organization, with particular emphasis on the production and distribution of knowledge, and international monetary economics. 

A rational response to the possibility of large-scale environmental change is to establish the economic freedom of individuals to deal with it,  if and when it comes. 

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, 

This paper documents and articulates Murray N. Rothbard’s contribution to our understanding of the theory and practice of socialism.

This very ambitious book starts with the high promise of a radically new and superior theory of business cycles, but when it ends the reader cannot resist the conclusion that the promise has gone unfulfilled.

ABC theory is founded on the concept of a sustainable, market-determined interest rate, and predicts negative consequences when that equilibrium is persistently disturbed. 

This article is therefore intended as a complement to the Austrian tradition and will point out more specifically the importance of local conditions for the production of innovative goods and services.  

Arthur Burns, Federal Reserve chairman (1970-1978), delayed Murray Rothbard's doctoral dissertation at Columbia University in the mid-1950s. Rothbard (1969) later observed

In the last twenty years, continual financial innovation has led to the increased use of MMMFs as a substitute for checkable deposits.  While many technical considerations suggest that it