Quarterly Journal of Austrian Economics

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The Economists’ Hour: False Prophets, Free Markets, and the Fracture of Society

Book Reviews

05/21/2020Quarterly Journal of Austrian Economics
Binyamin Appelbaum, the main writer on economics for the New York Times , thinks that economics was appropriately progressive—favoring severe market restrictions—in the first half of the twentieth century. All this changed in the fifties.
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The Marginal Revolutionaries: How Austrian Economists Fought the War of Ideas

CapitalismHistory of the Austrian School of Economics

05/21/2020Quarterly Journal of Austrian Economics
David Gordon reviews Janek Wasserman's "The Marginal Revolutionaries" and finds some concerning errors and misunderstandings.
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Ribatarianizumu: Amerika wo yurugasu jiyūshijōshugi (Libertarianism: The Ultrafreedomism Shaking Up America, published only in Japanese)

Book ReviewsWorld History

05/21/2020Quarterly Journal of Austrian Economics
Yasushi’s fine introduction to libertarianism—a phrase which is translated even more provocatively as “ultra-do-whatever-you-want-ism” ( jiyūshijōshugi )—has turned out to be one of this year’s steady sellers in Japan.
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Planned Economy and Economic Planning: What The People’s Republic of Walmart Got Wrong about the Nature of Economic Planning

Calculation and Knowledge

05/21/2020Quarterly Journal of Austrian Economics
Firms, like other organizations, are unable to substitute the market in coordinating their economic plans. If they ever tried to eliminate the market creating them, they would face the same problems that all planned economies do.
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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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Discovering Markets

Calculation and KnowledgePrices

05/20/2020Quarterly Journal of Austrian Economics
Winning narratives shape market prices until their victory is confirmed by the facts or they are discredited by facts and replaced by new narratives.
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Beyond Calculation: The Austrian Business Cycle in the Socialist Commonwealth

Business Cycles

05/20/2020Quarterly Journal of Austrian Economics
This paper extends Austrian business cycle theory to the command economy and demonstrates that Mises’s socialist commonwealth would not be free from Rothbardian error cycles.
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The Macroeconomic Models of the Austrian School: A History and Comparative Analysis

Austrian Economics OverviewBusiness Cycles

03/30/2020Quarterly Journal of Austrian Economics
Three Austrian macroeconomic models—those of Böhm-Bawerk, Hayek, and Garrison, are reviewed and compared. At a general level, they share several important characteristics.
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Money, Inflation, and Business Cycles: The Cantillon Effect and the Economy

Book ReviewsInflationMoney and BanksCantillon

02/17/2020Quarterly Journal of Austrian Economics
Professor Arkadiusz Sieroń has written an important new book on the Cantillon effect, indicating that the effect of new money on the economy depends on where it is injected.
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The Quality of Money

Monetary TheoryValue and Exchange

02/07/2020Quarterly Journal of Austrian Economics
Much has been written about the quantity of money and its effects on money’s purchasing power, but the quality of money has been neglected.
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