Quarterly Journal of Austrian Economics - Single Articles

This paper tracks the economic and political developments in the state of Kentucky that led up to the murder, trial, and execution constituting “The Kentucky Tragedy,”

Unfortunately, Peter Bossaerts’ text, The Paradox of Asset Pricing, offers no relief from past use of flawed methodologies. Bossaerts is professor of finance and director of the Laboratory

The present work is a doctoral dissertation written at the University of Hamburg. It deals with Mises’s work on monetary economics and business cycle theory. 

This paper examines several problematic aspects of George Reisman’s Capitalism: A Treatise on Economics , specifically, five problems in the economics of natural resources. 

The problem of cost is the cornerstone of economic calculation.  Entrepreneurs act upon the cost implications of their decisions and depend on cost data that represent the actual pattern of resource consumption.

The author wishes to convince the intelligent general public that contemporary neoclassical economics is not only virile, rather than sterile, but is of crucial importance for public policy.

Economic analysis can be applied to the phenomenon of crime. In the present paper, we will deal with an approach to the economics of crime that is built on the foundations of neoclassical welfare theory.

Tony Yu’s Firms, Strategies, and Economic Change joins a growing list of book-length treatments applying Austrian economics to the theory of the firm, corporate strategy, innovation, new venture formation, and other popular issues in management.

The spread-model provides no point of attachment for spiral reasoning because there is no representativity assumption that forces the model agents to behave in a similar way. 

The theory of free banking establishes that free competition in note issue decreases the probability of financial instability and currency depreciation. 

Supporters of Kaldor-Hicks believe it useful to have a quantitative measure to assess the efficiency of different situations.  Although it may appear convenient to be able to judge policies

The article by Jörg Guido Hülsmann, “Free Banking and the Free Bankers,” is an important contribution to a proper understanding of free-banking systems. He is perfectly correct in blaming some advocates of free banking who support arguments which are irrelevant or wrong,

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 conventional wisdom proposition suggested by Galbraith that there is endemic instability in a market-based economy that can be remedied only by government policy interventions is inappropriate. 

Engelhardt’s analysis implicitly assumes away the presence of diminishing returns. Diminishing returns have long been at the heart of growth theory 

In light of the argument presented in the present paper, it is difficult to avoid the speculation that the main argument that Hayek either half accepted or regarded as exaggerated and one-sided

In this article it will be argued that collective corruption - which is the logical result of government interventionism in the field of money production 

The Hotelling Principle defines socially-optimal conservation of an exhaustible resource i a mathematically-defined, equilibrium environment in which no human action can occur.

In 1920 Mises presented his famous essay on socialism, which would change, and eventually destroy, the whole scientific case for Marxist socialism (Mises 1990). Afterward, no one could seriously defend that doctrine. 

Hayek points to the works of Bernard Mandeville, David Hume, and Adam Smith as the primary origins of his social theory of spontaneous order.