Anthony de Jasay

Has Hayek a theory of the social order, a comprehensive view of society as a determinate and self-reproducing system, in the same way as Hobbes or Marx, though perhaps no one else can be said to have an (albeit simpler) theory of the social order?

David W. Boyd

Vertical restraints are restrictions that manufacturers place on the retailers who carry their products regarding to whom those dealers may resell the goods, or on the retail prices they may set.

Leland B. Yeager

Contrary to Joseph Salerno’s “Reply” (1994), my article (1994) did not try to specify what Professors Salerno, Rothbard, and Herbener mean by “calculation.” I did not say that they “equate calculation and arithmetic” (Salerno 1994, p. 116). Instead, I implicitly raised the question of what they might mean. I did so by pursuing my avowed main purpose, namely, to challenge their attempted dichotomy between the “calculation” and “knowledge” problems of socialism.

Joseph T. Salerno

Leland Yeager’s rejoinder “Salerno on Calculation, Knowledge, and Appraisement” (1996) merits a final word, because I believe it makes a subtle though very important concession to the argument made by Rothbard, Herbener, and myself regarding the function of the price system. Before addressing this issue, I will offer comments relating to two other points raised by Yeager in his rejoinder.

Jeffrey M. Herbener

The view that Ludwig von Mises had more in mind in his calculation critique of socialism than the Hayekian knowledge problem has recently been attacked by Leland Yeager.1 This article addresses Yeager’s central claim that,

Roger W. Garrison

The State of Interpretation of Keynes
Edited by John B. Davis

Murray N. Rothbard*

Knowledge and Persuasion in Economics
Donald N. McCloskey

On first seeing Murray Rothbard’s two volumes, I regretted having agreed to review them, for they cover the history of thought only up to about 1870, when, in my view, economics begins to get really interesting. Actually reading them changed my mind. Rothbard—not just the libertarian guru but the joyful and indefatigable scholar—makes the thinkers even of reputedly dreary epochs come alive.

Hans-Hermann Hoppe

In a series of recent articles in The Review of Austrian Economics, Joseph Salerno began to de-homogenize the often conflated economic and social theories of Ludwig von Mises and Friedrich A. Hayek.

Peter G. Klein

Economists have become increasingly frustrated with the textbook model of the firm. The “firm” of intermediate microeconomics is a production function, a mysterious “black box” whose insides are off-limits to respectable economic theory (relegated instead to the lesser disciplines of management, organization theory, industrial psychology, and the like).