Quarterly Journal of Austrian Economics, vol. 21, no. 3, 2019

The Quarterly Journal of Austrian Economics (QJAE) is a refereed journal that promotes the development and extension of Austrian economics and the analysis of contemporary issues in the mainstream of economics from an Austrian perspective..

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Quarterly Journal of Austrian Economics
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Christian Hugo Hoffmann

What are the different concepts of financial risk? How do Austrian economists conceive of risk, uncertainty, and probability? Christian Hoffmann, parting ways with Mises, provides a taxonomy and cautions about the predominance of probability statistics in the realm of economics and finance.

Jeffrey M. Herbener

The marginalist revolution posed a fundamental problem for economic theory. Mises’s approach not only solved the problem of economizing resources in a division of labor, but provides a robust framework for economic research.

Samuel Bostaph

This article discusses the changes in Austrian economics stimulated by the Second Socialist Calculation Debate and suggests a direction for future research.

Xavier Méra

Méra argues in this comment that Hoffmann’s criticisms of the Misesian approach to risk and his case for an alternative are unconvincing.