Profiles

Though little known among the economics establishment during his lifetime, Ludwig M. Lachmann was always widely connected. The range of scholars whom he knew and with whom he communicated was truly impressive.

For those who know little or nothing about the subject the book is likely to be informative but also to be a source of misinformation, particularly for those who know something about one school

This article offers an analysis of the causes of the subprime crisis, explaining that it is not an isolated incident and that we should concentrate our attention on the Fed’s monetary policy

Austrian economics has important contributions to make in two particular areas — to the theory of rent and to an understanding of the meaning of equilibrium. The legacy of perfect competition casts a long shadow, inhibiting an adequate understanding of the dynamic market process in which rent is...