Solow seems to have no conception of human action as a process of plan coordination, although he uses Austrian-sounding language at one point in discussing "coordination failure" in the marketplace.
This note has shown that the possibility of the income effect of a price change is implied by the Misesian pure logic of choice. This note has not assumed that our individual must consume more than four loaves of bread to survive.
The Mises Institute is pleased to accept unsolicited submissions for the Quarterly Journal of Austrian Economics.
Joseph T. Salerno (2003) argues economic growth has occurred in periods of deflation. The Austrian School’s broad understanding of deflation is underscored by the four definitions offered by Salerno.
F.A. Hayek is known for making a number of important contributions to economics and social thought. If one had to identify a single concept that captures the thrust of Hayek’s intellectual project it would be “spontaneous order.”
In my critique of Austrian economics, I carved out a virtually unique position: Despite the Austrians' professed devotion to "realism” against neoclassical pragmatism, the latter approach is in fact far more realistic than the former.
Elliot Sclar's book You Don't Always Get What You Pay For: The Economics of Privatization presents an empirical analysis of privatization that he thinks has been lacking.
