Quarterly Journal of Austrian Economics

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Economics in Two Lessons: Why Markets Work So Well, and Why They Can Fail So Badly

Book Reviews

05/20/2020Quarterly Journal of Austrian Economics
David Gordon reviews John Quiggin's "Economics in Two Lessons," an effort to correct Hazlitt's "Economics in One Lesson" by adding "important truths about the limitations of the market."
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Economic Indulgences: Old and New Debates on Welfare and Freedom

InterventionismPhilosophy and MethodologyValue and Exchange

09/09/2016Quarterly Journal of Austrian Economics
I fear we will make little progress politically or economically if the attachment to emotionalism does not change in favor of economic realism.
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Error, Equilibrium, and Equilibration in Austrian Price Theory

PricesValue and Exchange

08/21/2014Quarterly Journal of Austrian Economics
Theorists of the Austrian School have long maintained that every realized price is market-clearing, in sharp contrast to the adherents of the neoclassical mainstream, who view realized prices as constituting a state of disequilibrium with a mismatch between demand and supply. The heart of these...
Formats

qjae17_2_1.pdf

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Environmentalism in the Light of Menger and Mises

The Environment

07/30/2014Quarterly Journal of Austrian 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.
Formats

qjae5_2_1.pdf

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Expansionary Monetary Policy and Decreasing Entrepreneurial Quality

The EntrepreneurMoney and BanksEntrepreneurshipMoney and Banking

07/30/2014Quarterly Journal of Austrian Economics
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
Formats

qjae15_2_2.pdf

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Editorial on Special Symposium Issue: Austrian Law and Economics

Legal System

07/30/2014Quarterly Journal of Austrian Economics
The present number of the QJAE features the proceedings of a symposium held on March 29–30, 2001 at the Mises Institute. The theme “Austrian Law and Economics:
Formats

qjae7_4_1.pdf

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Entrepreneurship and Economic Growth: Comment on Holcombe

The EntrepreneurEntrepreneurship

07/30/2014Quarterly Journal of Austrian Economics
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.
Formats

qjae2_2_5.pdf

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Entrepreneurial Planning in a Regulated Environment: the U.S. Federal Maritime Commission and the Maritime Industry

The EntrepreneurEntrepreneurship

07/30/2014Quarterly Journal of Austrian Economics
Entrepreneurs exploit market opportunities and innovate to achieve or maintain strategic advantage over their competitors.In the absence of government regulation,
Formats

qjae11_2_3.pdf

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Explaining Japan's Recession

World History

07/30/2014Quarterly Journal of Austrian Economics
Japan has experienced an Austrian business cycle. The initial boom was created by a central bank–induced monetary expansion. Because of repeated interventions, the economy has not recovered.
Formats

qjae5_2_3.pdf

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Efficiency Wages and Involuntary Unemployment Revisited

Production Theory

07/30/2014Quarterly Journal of Austrian Economics
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.
Formats

qjae15_3_2.pdf

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