Misesian Insights for Modern Macroeconomics
Volume 17, No.1 (Spring 2014)
J. Huston McCulloch[1]
Sunk Costs and Contestable Markets
Volume 16, No.4 (Winter 2013)
Legal Monocentrism and the Paradox of Government
Volume 16, No. 4 (Winter 2013)
Driving the Market Process: “Alertness” Versus Innovation and “Creative Destruction”
- Read more about Driving the Market Process: "Alertness" Versus Innovation and "Creative Destruction"
Volume 16, No. 4 (Winter 2013)
ABSTRACT: This paper summarizes and compares the theories of entrepreneurship of Joseph A. Schumpeter and Israel M. Kirzner as presented in their major scholarly contributions to economic analysis. It is argued that Kirzner’s theory of entrepreneurial action as “the driving force of the market” contributes greatly to a fundamental understanding of the market process.
New Translations of ‘Mises Daily’ Articles
One from Mises Poland:
- Hodowcy bydła a imperium na amerykańskim Zachodzie (orig: “Ranchers and Empire in the American West“)
And four new ones from Mises Hispano:
How Entrepreneurship Theory Created Economics
Volume 16, No. 4 (Winter 2013)
ABSTRACT: Richard Cantillon is credited with the discovery of economic theory and was the first to fully consider the critical role of entrepreneurship in the economy. Cantillon described entrepreneurship as pervasive and he casted the entrepreneur with a pivotal role in the economy.The Marginal Efficiency of Capital
Volume 16, No. 4 (Winter 2013)
ABSTRACT: The purpose of this paper is to explain the marginal efficiency of capital.1 The net present value diagram is derived and used to illustrate how the interest rate regulates the intertemporal allocation of resources.
