The latest scholarship developing the Austrian School of economic thought.
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.
The QJAE Blog Editors and Editorial Board Submission Information
Book Review: _Money and the Rule of Law: Generality and Predictability in Monetary Institutions_
Peter Earle reviews Boettke, Salter, and Smith's argument that the rule of law should be brought to bear on the Federal Reserve, to rein in its distortions and disruptions.
Book Review: _The Emergence of Arthur Laffer: The Foundations of Supply-Side Economics in Chicago and Washington, 1966–1976_
Greg Kaza reviews Brian Domitrovic's book on Arthur Laffer--his communication of economic ideas and his interactions with U.S. policymakers prior to meeting Ronald Reagan.
Book Review: _The Gold Standard: Retrospect and Prospect_
Robert Murphy reviews Earle and Luther's _The Gold Standard_, finding it a balanced and useful defense of an underappreciated monetary institution.
New Evidence and Some Clarifications on the Ethical Implications of Hybrid Banking Contracts
Are a deposit and a loan mutually exclusive? Or is a deposit contract legitimate even if it permits banks to engage in fractional reserve lending? Evans discusses these hybrid contracts.
The Myth of Natural Monopoly: The Case of Railroads
Explains the origin of the natural monopoly theory, the illusion that monopolies can be efficiently controlled by regulation. Railroads are not natural monopolies.
Alert Judgment: Ford’s Entrepreneurial Five Dollar Day
Was Ford's five dollar day an efficiency wage, rent-sharing, or a high-wage doctrine? Nathaniel Smith argues that Ford was behaving as a profit-seeking entrepreneur.
The Inverted Yield Curve, Austrian Business Cycle Theory, and the True Money Supply
Griggs and Murphy show that the Rothbard-Salerno measure of the "true money supply" tracks Treasury bond spreads well, supporting the Austrian business cycle theory's explanation of yield curve predictive power.
