Demand and Supply, Consumer Goods, Prices and Exchange
New Twitter Account for ‘Quarterly Journal of Austrian Economics’
You’ll receive general updates about new issues of QJAE at our usual Twitter account @Mises, but you can also follow the Twitter account for QJAE that is administered by Assistant Editor Timothy Terrell if you’re interested in a separate stream specifically devoted to QJAE. 
Summer 2014 ‘Quarterly Journal of Austrian Economics’ Now Online
The Summer issue of QJAE is now available online, featuring new research and book reviews:
Error, Equilibrium, and Equilibration in Austrian Price Theory by GP Manish
Police Departments are Over-funded: It’s All About Priorities
Based on a reading of reader comments below articles about Ferguson, Missouri, some people seem to be under the impression that the police help people recover stolen property, and that we’ll all appreciate the police if we’re ever a victim of property crime. Everyone who has ever owned a small business or otherwise been burgled, however, knows that when you are a victim of property crime, calling the police is a mere formality in which a police report is filed, and then sent to the insurance company.
The State’s Priority Is the State
In the real world, managing a budget is all about setting priorities. Money is a scarce resource and must be spent on those items that bring the best returns.
The Freeman 1970
The Freeman
“Free Trade” with Japan, Circa 1853
“On July 8, 1853, Commodore Matthew Perry of the United States Navy, commanding a squadron of black-hulled frigate steamers, sailed into Edo (Tokyo) harbor. When the Japanese refused to allow the Americans come into the port, Perry threatened to fire on coastal cities. Perry ordered his ships to steam past Japanese lines towards the capital of Edo, and turn their guns towards the coasts of Japan. Perry refused Japanese demands to leave.
