Lowell Gallaway Richard K. Vedder

There was a watershed in the history of economic ideas in the twentieth century, particularly ideas dealing with the relationships, in the aggregate, between money wage rates, price levels, and employment. This watershed occurred not quite a third of the way through the century and was derivative from the dramatic sequence of events known as the Great Depression.

Richard H. Timberlake, Jr.

From the first, the Austrians entertained a wish . . . to apply their marginal utility theory to the case of money—which both the enemies of this theory and some of its foremost sponsors . . . declared to be impossible.

Murray N.

William Keizer

In the past few years, there has been a remarkable revival of academic interest in the Austrian economist Ludwig von Mises’s pioneering and incisive critique of the rationality of economic calculation under socialism. An entire issue of the Journal of Libertarian Studies was devoted to the subject. Other journals have included articles by Karen I.

E.C.

Gene Smiley

The standard explanation for the snail-like pace of the recovery from the Great Depression was first proposed by E.

Robert Batemarco

Over the past two decades, economists have observed and become professionally concerned with falling rates of economic growth. To many young people today trying to establish homes and raise families, that concern is not merely professional. Despite their greater investment in education than any previous generation and despite the extent to which two-earner households have become the norm, this generation, by all indications, is likely to be the first in U.S.

Charles W. Baird

This is a very difficult review for me to write, for my overall assessment of The Economics of Time and Ignorance is strongly negative. Jerry O’Driscoll got me started in Austrian economics, and I have over the years learned much of value from him. Both he and Mario Rizzo have excellent track records of significant contributions to the revival of the Austrian school in the 1970s and 1980s, and I am certain they will make such contributions in the future. The present book, however, is not such a contribution.

M.W. Sinnett

Science appears but what in truth she is,

Not as our glory and our absolute boast,

But as succedaneum, and a prop

To our infirmity. No officious slave

Art thou of that false secondary power

By which we multiply distinctions, then

Deem that our boundaries are things

That we perceive, and not that we have made.

—William Wordsworth, “The Prelude”

Reviewed by Roger Arnold

Robert Axelrod’s The Evolution of Cooperation is destined to find its way into hundreds of scholarly footnotes over the next decade. It is, quite simply, a book that will be widely read and discussed within the academic circles of many fields.