ABSTRACT: Murray Rothbard developed the concept of decision-making rent as a return to a kind of unhirable labor performed by the entrepreneur in his role as owner and ultimate decision-maker of the firm. Rothbard conceived owner’s rent as separate from profit and loss and the decision-making function as concerned with productive organization and
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
The Economic Theory of Costs: Foundations and New Directions Matthew McCaffrey, Ed. London and New York: Routledge, 2018, xiv + 270 pp. Karl-Friedrich Israel (KF_Israel@gmx.de) is lecturer at the Department of Law and Economics at the University of Angers, France. Quarterly Journal of Austrian Economics 21, no. 3 (Fall 2018) full issue, click
[ Originally published in Volume 5, No. 1 (Spring 2002) of the Quarterly Journal of Austrian Economics .] A central theme of all schools of economics is the notion that goods are scarce. The extent of human wants and needs is sufficiently great that the means man would apply to those ends are limited, requiring that he choose among alternative
Quarterly Journal of Austrian Economics 22, no. 2 (Summer 2019) full issue. ABSTRACT: This Lou Church Memorial Lecture given at the AERC in March 2019 focuses on the outcomes of the Enlightenment: reason, the individual, equality, property rights, the separation of church and state, science and politics freed from religious dogma; but also the
Quarterly Journal of Austrian Economics 22, no. 2 (Summe 2019) full issue. ABSTRACT: This paper discusses the epistemological status and potential scope of the discipline of sociology based on the writings of Ludwig von Mises. More specifically, it presents his epistemological distinction between theory and history, and argues that sociology can
RESUMEN : Este artículo analiza la influencia de la iniciación del Segundo Debate sobre el Cálculo Socialista en mi propia investigación posterior y las contribuciones a ese debate, y resume brevemente la investigación presentada en artículos sobre argumentos de Platón, Karl Marx, Friedrich von Wieser, Friedrich Hayek, Lionel Robbins, Joseph
RESUMEN : Al exaltar la subjetividad del valor, la revolución marginalista planteaba un problema fundamental para la teoría económica. Cada persona elige cómo asignar sus medios y, por lo tanto, economiza sus acciones ordenando el valor de las alternativas. Al ser interpersonalmente incomparables, los rangos ordinales no pueden servir
[Publicado originalmente en el Volumen 5, No. 1 (primavera de 2002) del Quarterly Journal of Austrian Economics ] Un tema central de todas las escuelas de economía es la noción de que los bienes son escasos. El alcance de los deseos y necesidades humanas es lo suficientemente grande como para que los medios que el hombre aplicaría a esos fines
What is the Mises Institute?
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.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.