ABSTRACT : This article discusses the influence of the initiation of the Second Socialist Calculation Debate on my own subsequent research and contributions to that debate, and briefly summarizes that research presented in articles on arguments made by Plato, Karl Marx, Friedrich von Wieser, Friedrich Hayek, Lionel Robbins, Joseph Schumpeter,
ABSTRACT : In exalting the subjectivity of value, the marginalist revolution posed a fundamental problem for economic theory. Each person chooses how to allocate his means and thereby, economize his actions by rank ordering the value of alternatives. Being interpersonally incomparable, ordinal ranks cannot serve directly to economize means
[ Full issue of the Quarterly Journal of Austrian Economics 20, no. 4 (2017)] Scandinavian Unexceptionalism: Culture, Markets, and the Failure of Third-Way Socialism by Nima Sanandaji London: Institute for Economic Affairs, 2015, 132 pp. The Scandinavian countries, and primary among them Sweden, are commonly referred to as anomalies or
[ Full issue of the Quarterly Journal of Austrian Economics 20, no. 4 (2017)] The Captured Economy: How the Powerful Enrich Themselves, Slow Economic Growth, and Increase Inequality by Brink Lindsey and Steven M. Teles Oxford: Oxford University Press, 2017, viii+ 221 pp. During the late nineteenth and early twentieth centuries, the Progressives
[ Full issue of the Quarterly Journal of Austrian Economics 20, no. 4 (2017)] Anti-Piketty: Capital for the 21st Century Edited by Jean-Philippe Delsol, Nicholas Lecaussin, and Emmanuel Martin Washington, D.C.: Cato Institute, 2017, xxvii + 272 pp. When Thomas Piketty’s Capital in the 21st Century was published in 2014 (the French edition had
Quarterly Journal of Austrian Economics 22, no. 2 (Summer 2019) full issue. ABSTRACT: This paper examines John Maynard Keynes’s ethical theory and how it relates to his politico-economic thought. Keynes’s ethical theory represents an attack on all general rules. Since capitalism is a rule-based social system, Keynes’s ethical theory is
Quarterly Journal of Austrian Economics 22, no. 2 (Summer 2019) full issue. ABSTRACT: One of the fundamental conditions for overcoming the economic disaster in Venezuela and being sure that a new government could not snatch away economic freedom again, is the desocialization of the economy. Following Rothbard (1992), we propose one of the required
Abstract: The French social model is mainly a model of state interventionism, which creates a strange contrast between two things: the fact that France is a collectivized society and the fact that it has produced some of the most famous and important intellectuals (for instance, Turgot, Bastiat, and Jean-Baptiste Say). We are inclined to wonder
Abstract: This paper extends Austrian business cycle theory to the command economy and demonstrates that Mises’s socialist commonwealth would not be free from Rothbardian error cycles, which J. Guido Hülsmann has argued must originate in “institutions in which the error of many persons is inherent.” Booms and busts are shown to be unavoidable
Prosperity and Liberty: What Venezuela Needs Rafael Acevedo, ed. Miami: Econintech, 2019 xvii + 153 pp. Abstract: Prosperity and Liberty: What Venezuela Needs is a compilation of essays gathered together by distinguished Venezuelan economist Rafael Acevedo. Venezuela has suffered from shortages of essential consumer goods, and a high inflation
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The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
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