Source link: http://archive.mises.org/4724/quarterly-journal-of-austrian-economics-8-no-4-winter-2005/
Quarterly Journal of Austrian Economics 8, no. 4 (Winter 2005)
March 3, 2006 by Mises Institute Publications
Volume 8, no. 4 (Winter 2005)
CIRCULAR FLOW, AUSTRIAN PRICE THEORY, AND SOCIAL APPRAISEMENT by Barry Dean Simpson and Scott A. Kjar. Traditional economic analysis frequently begins with a circular-flow diagram showing an on-going relationship between firms and households, connected through markets for goods and services on the one hand and markets for factors of production on the other hand…
AGAINST POLANYI-CENTRISM: HAYEK AND THE RE-EMERGENCE OF “SPONTANEOUS ORDER” by John P. Bladel. Hayek is known for making a number of important contributions to economics and social thought. If, however, one had to identify a single concept that captures the thrust of Hayek’s intellectual project, one would probably have to say “spontaneous order.” The intellectual history of spontaneous order…
THE METHODOLOGY OF PROFIT MAXIMIZATION: AN AUSTRIAN ALTERNATIVE by William L. Anderson and Ronald L. Ross. For nearly a century, the assumption that the firm maximizes profits has been front and center in neoclassical economic theory. Indeed, there has been a rich literature on the subject that for the most part has remained on the periphery of mainstream economic thought.
DIMENSIONS AND ECONOMICS: SOME ANSWERS by Roger Nils Folsom and Rodolfo Alejo Gonzalez. Barnett’s critique of mathematics in economic analysis, “Dimensions and Economics: Some Problems,” claims that economics almost always uses functions and equations without paying any attention to their variable and parameter dimensions and units…
GOLD BONDS AND SILVER AGITATION by Clifford Thies. During the late 19th century, silver agitation threatened the gold standard in the United States. During this period of monetary uncertainty, well-secured railroad bonds promising to pay principal and interest in gold sold at a premium relative to similar currency bonds. Through 1893, this premium behaved exactly as would be expected…
A NOTE ON PREFERENCE AND INDIFFERENCE IN ECONOMIC ANALYSIS by Hans-Hermann Hoppe. In his celebrated article “Toward a Reconstruction of Utility and Welfare Economics,” Rothbard wrote that “[i]ndifference can never be demonstrated by action. Quite the contrary. Every action necessarily signifies a choice, and every choice signifies a definite preference. Action specifically…”
Book Review of LUDWIG VON MISES ALS PIONIER DER MODERNEN GELD UND KONJUNKTURTHEORIE by Carsten Pallas. Reviewed by Jørg Guido Hülsmann. The book deals with Mises’s work on monetary economics and business cycle theory. It starts with a short presentation of Mises’s life and work and gives an overview of the Austrian School and German monetary thought at the eve…
Book Review of THE CHURCH AND THE MARKET: A CATHOLIC DEFENSE OF THE FREE ECONOMY by Thomas E. Woods, Jr. Reviewed by Christopher Westley. When studying the origins of the Austrian School, one is often struck by the influence played by Catholic thinkers and culture during the centuries leading up to the publication of Menger’s Principles. Much recent scholarship…
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