The Efficient-Markets Hypothesis and Entrepreneurship
From The Review of Austrian Economics Vol. 3, 1989.
From The Review of Austrian Economics Vol. 3, 1989.
There is an implicit assumption in the literature that rent-seeking behavior can be objectively identified and that waste due to rent seeking can, at least in principle, be measured. The problem of identifying rent-seeking activity under real world conditions is shown in this article to be similar to that of determining monopoly waste and other market inefficiencies. It follows that rent-seeking waste can only be identified by substituting the observer’s own standard of value.
From the Journal for Institutional Innovation, Development, and Transition, Vol. 3, 1998.
The offering which the most prominent leader of the younger generation of the historical school has made to the founder and head of that school, Wilhelm Roscher, at the fiftieth anniversary of his doctorate, is a most fitting tribute.1 The book is dedicated to Professor Roscher, in honor of the fiftieth anniversary of his doctorate.
From Shorter Classics, 1962.
SUMMARY: The identity of capital and capital goods: is it admitted by Professor Clark? A difference as to knowing the existence and finding the explanation of the return on capital, A question of method: shall a theory of distribution confine itself to the present, or must it reach back to the past? The synchronizing effect of “capital” considered once more.
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Frank Chodorov The Freeman October 1954
Frank Chodorov The Freeman November 1054
Frank Chodorov The Freeman December 1954