Quarterly Journal of Austrian Economics

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Corporate Risk Evaluation in the Context of Austrian Business Cycle Theory

Calculation and KnowledgeEntrepreneurshipPraxeology

11/04/2020Quarterly Journal of Austrian Economics
During the boom phase of the business cycle, the economy shifts to a more risky position as the result of entrepreneurs’ profit targeting. The duration can be used to quantify this risk and to determine the discount rate for calculating the project's present value.


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Income and Substitution Effects: A Rejoinder to Professor Joseph Salerno

11/04/2020Quarterly Journal of Austrian Economics
Professor Joseph Salerno (2019) has commented on my recent reconstruction of the income effect from a causal-realist perspective (Israel, 2018b). In this rejoinder, I clarify my position and show that the main points of criticism in Salerno’s response are unfounded.
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On the Impossibility of Intellectual Property


08/05/2020Quarterly Journal of Austrian Economics
Beyond being incompatible with natural rights and detrimental to the dissemination of innovations, the concept of intellectual property is a praxeological impossibility.
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Say's Law and the Austrian Theory of the Business Cycle

Booms and BustsProduction Theory

07/30/2020Quarterly Journal of Austrian Economics
Economists have tried to explain business cycles as well as fluctuations in the economy, but over the past two centuries, the explanations have fallen into two areas.


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The Relevance of Bitcoin to the Regression Theorem: A Reply to Luther

BitcoinMoney and Banks

07/24/2020Quarterly Journal of Austrian Economics
Does the emergence of bitcoin invalidate the regression theorem? William Luther argues that it does, but Pickering here contends that Luther's view misinterprets the regression theorem.
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Review: American Bonds: How Credit Markets Shaped a Nation

U.S. HistoryBusiness CyclesMoney and Banking

07/23/2020Quarterly Journal of Austrian Economics
Quinn’s American Bonds shows that the federal government’s credit policies were important factors behind the particular evolution of securitization and credit markets in the United States.
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Review: The Bitcoin Standard: The Decentralized Alternative to Central Banking

BitcoinMonetary PolicyGold Standard

07/21/2020Quarterly Journal of Austrian Economics
This book is a rarity: a reasonable treatment of bitcoin from the point of view of Austrian economics.
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Review: Narrative Economics: How Stories Go Viral and Drive Major Economic Events

Monetary PolicyBusiness Cycles

07/04/2020Quarterly Journal of Austrian Economics
Brendan Brown reviews "Narrative Economics," which argues that "economic fluctuations are substantially driven by contagion of oversimplified and easily transmitted variants of economic narratives."
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Review: Prosperity and Liberty: What Venezuela Needs…

Economic FreedomEconomic PolicyFree MarketsSocialism

06/30/2020Quarterly Journal of Austrian Economics
David Gordon reviews Prosperity and Liberty , a compilation of essays on Venezuela's wrecked economy and plans for reconstruction, edited by Rafael Acevedo.
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Review: Beyond Brexit: A Programme for UK Reform

Economic PolicyMacroeconomics

06/29/2020Quarterly Journal of Austrian Economics
George Pickering reviews the Policy Reform Group's Beyond Brexit: A Programme for UK Reform , a series of essays on the Great Recession and Britain's retreat from the global economy's forefront.
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