In this paper the theory of optimum currency areas (OCA) is presented, and then I will attempt to prove:
1. The OCA theory is nonoperational and irrelevant in dealing with the present international monetary situation.
2. The basic postulates of OCA theory are internally inconsistent and incompatible with economic theory.
In the context of legal analysis, one important praxeological doctrine is the distinction between action and mere behavior. The difference between action and behavior boils down to intent.
The title of the book may initially seem to be an exercise in hyperbole, but such is not the case. How Capitalism Saved America is indeed the untold history of our country.
The aim of this paper is to criticize the foundation and the relevance of the insulation argument. In what follows, I will attempt to show that: (1) The favor flexible exchange rates enjoy
This paper has incorporated challenges to the dominant neoclassical model that were fashioned by Rothbard and, to a much lesser extent, Baumol.
The Eastern European countries have been going through a transition phase since the liberalization of their economies with the collapse of communist regimes in the early 1990s.
ABC theory is founded on the concept of a sustainable, market-determined interest rate, and predicts negative consequences when that equilibrium is persistently disturbed.
Our hope in publishing this symposium is to assist other instructors in teaching Austrian macroeconomics at the intermediate level and to inspire those who are inclined and equipped to contribute publications
The efficacy of the decentralized market process is perhaps the foremost contribution of Austrian economics. But if Austrians are correct about the performance of spontaneous order processes,
Tyler Cowen has two great aims in his new book on government arts funding. One is to explain the distinctions between what he calls the aesthetic perspective and the economic perspective.
