Volume 12, No. 3 (2009)
This paper briefly summarizes Ulrich Fehl’s important contributions to Austrian capital theory. While his work is well known in Europe he remains a relative unknown to the English speaking world. The intent of this paper is to introduce Ulrich Fehl to English-speaking economists who are interested in the Austrian School of economics.
Volume 12, Number 4 (2009)
Much has been written about the quantity of money and its effects on money’s purchasing power. However, changes in the quality of money have been widely neglected. This paper analyzes changes in the quality of money and its influence on the purchasing power of money.
Volume 12, Number 4 (2009)
Volume 12, Number 4 (2009)
This paper tracks the economic and political developments in the state of Kentucky that led up to the murder, trial, and execution constituting “The Kentucky Tragedy,” and to a second murder involving a son of the Governor of the state. In doing this, the paper ties the developments in money, banking, and the economy to the political and social tensions of the time. As a result, what might otherwise be seen as an overly-wrought anecdote can be seen as among the predictable consequence of misguided policy.
Volume 12, Number 4 (2009)
ABSTRACT: While corporate income taxation is a major issue in the debate over international finance, economic theory has no clear stance on who bears its burden. On balance, economists seem still more prone to accept that taxing profits does not affect corporations’ outcomes. This paper makes three cases for non-neutrality. First, since corporate income taxation is asymmetric between profit and loss, the tax rate may change the ranking of alternative investments.
ABSTRACT:
ABSTRACT: This paper explains how grants of monopolistic privileges to capitalists can lower labor and land factors’ prices compared to what would prevail in a free market environment. Monopoly gains of privileged business owners are not only “extracted” from their clients but also from factor owners. We revisit Rothbardian monopoly price theory and extend it to the realm of factor pricing.
