Volume 17, No.1 (Spring 2014)

ABSTRACT: This article analyzes the housing boom witnessed in the UK economy from 1994–2007 in light of the Austrian theory of the business cycle (ABC). Ludwig von Mises’s parable of the “bricks” is utilized to provide empirical grounding for the theory, and the television series “Property Ladder” is used to illustrate the key aspects of the Austrian narrative. In particular attention is drawn to the role of marginal borrowers, regeneration projects, and forced savings.

Volume 17, No.1 (Spring 2014)

J. Huston McCulloch[1]

Volume 16, No.4 (Winter 2013)

Volume 16, No. 4 (Winter 2013)

Volume 16, No. 4 (Winter 2013)

ABSTRACT: This paper summarizes and compares the theories of entrepreneurship of Joseph A. Schumpeter and Israel M. Kirzner as presented in their major scholarly contributions to economic analysis. It is argued that Kirzner’s theory of entrepreneurial action as “the driving force of the market” contributes greatly to a fundamental understanding of the market process.

One from Mises Poland:

• Hodowcy bydła a imperium na amerykańskim Zachodzie (orig: “Ranchers and Empire in the American West“)

And four new ones from Mises Hispano:

Volume 16, No. 4 (Winter 2013)

Volume 16, No. 4 (Winter 2013)

ABSTRACT: The purpose of this paper is to explain the marginal efficiency of capital.1 The net present value diagram is derived and used to illustrate how the interest rate regulates the intertemporal allocation of resources.