Starting with this issue, I have assumed the position of sole editor of the Quarterly Journal of Austrian Economics. Jeffrey M. Herbener and Mark Thornton continue as associate editor and book review editor, respectively.
As before the journal will publish articles dealing with a wide range of issues in the broad Austrian tradition that is exemplified in the works of Ludwig von Mises, F.A. Hayek, Murray Rothbard and Israel Kirzner. The primary purpose of the journal continues to be to advance the frontiers of Austrian economic theory. In pursuit of this aim we are especially interested in publishing articles elaborating, applying or criticizing Mengerian price theory, which constitutes the distinctive core of Austrian economics and whose development has been relatively neglected since Mises’s restatement in Human Action and Rothbard’s comprehensive elaboration in Man, Economy, and State. The journal also welcomes articles on monetary theory, the theory of monetary calculation, capital theory, and the theory of entrepreneurship, all of which also offer scope for further extension or refinement. Submissions on the method, doctrinal development and policy implications of Austrian economics are also welcome. Since the journal aspires to serve as a forum for vigorously and constructively debating unsettled issues in Austrian economics, we encourage submission of comments on and replies to published articles. All submissions will be refereed in a rigorously fair and timely manner.
The journal will also seek to actively engage the interest of mainstream economists by publishing articles subjecting neoclassical doctrine to critical analysis. As an example, there appears in this issue a Misesian critique of the Hotelling Principle as the standard of social efficiency in the use of depletable natural resources. Also, we intend to publish occasional symposia in which an exchange of views takes place between Austrian and mainstream economists on issues of mutual interest. Accordingly, this issue features the first part of a symposium on publishing in Austrian economics. Finally, since the journal has access to the papers of both Rothbard and Mises, we look forward with great pleasure to periodically making available to readers of the QJAE papers by these two giants of Austrian economics that have not previously appeared in print or have appeared only in foreign-language publications. For instance, this issue of the journal includes a paper by Mises on economic calculation under socialism, which, up to now, has been available only in French. In this paper, Mises, for the first and only time, explicitly addressed the differences between himself and Hayek in their respective critiques of socialist central planning.
Joseph T. Salerno