Volume 2, No. 2 (Summer 1999) Recently, scholars working in the field of modern Austrian economics have wondered about what this literature might offer for an understanding of the nature of modern business organizations (for example, Foss 1994, 1997b; Sautet 1998; Mathews 1998). In this article, we examine the received literature on firms and
Volume 3, No. 3 (Fall 2000) It is a rare individual who is able to draw from many disparate traditions in economic thought and combine these into a coherent research program. Brian J. Loasby , longtime professor of economics at the University of Stirling , United Kingdom, is one such individual. This first of two volumes of essays written
Volume 4, No. 2 (Summer 2001) It is within the bowels of government where the real yes-men problem lies. Here, there is no automatic feedback mechanism of the market to rely upon, to quell any incipient tendencies in the direction of yes-manning. At best they are extraordinarily weak; at worst they are nonexistent. Thus, far from Prendergast
Volume 4, No. 4 (Winter 2001) Austrian insights are useful for not only interpreting recent claims, but also for understanding their reach. In particular, Misesian insights are helpful here, and it may be argued that there is a certain in ance in the above writings because of their neglect of these insights. Thus, I have argued that
Volume 4, No. 4 (Winter 2001) Fiscal policy means simply that the government steals the public’s assets (taxes them), and then either spends the money itself (what is usually termed “government expenditure”) or donates the funds to others (makes subsidies), who then spend them. Clearly, the government may not make expenditures or donations
Volume 5, No. 1 (Spring 2002) The existence of and need for property is a consequence of scarcity, which is further affected by the very institution to which it gives rise. H owever, this “problem” in a sense sup plies its own solution, as ownership implies the ability to exchange, and con sequently , the emergence of exchange ratios in a
Volume 5, No. 2 (Summer 2002) Empirical analysis and interpretation of employment and interest data based on the Hayekian triangle have proved highly fruitful in revealing new information about the structure of U.S. production. Statistical inference has demonstrated the Hayekian triangle’s strong explanatory power. Demonstration of stable,
Volume 5, No. 2 (Summer 2002) The authors’ proposed solutions are interesting but ultimately disappointing. Laudably, they do call for what they believe to be the privatization of urban transit. They call for an increase of fares, as well as reductions in the frequency of service and route coverage. They argue that with competition, the bus
Volume 7, No. 3 (Fall 2004) There exists a modest but steadily growing literature on the economics of science. Much of it concerns the funding of research and the reaping of societal benefits therefrom, but one also sees increasing interest in applying economic concepts to the conduct of research itself, extending even to matters traditionally
Volume 8, No. 4 (Winter 2005) This paper has incorporated challenges to the dominant neoclassical model that were fashioned by Rothbard and, to a much lesser extent, Baumol . In examining the work of both economists, we conclude that the Rothbard model is more complete, as it factors time into the model, where Baumol’s does not, which
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.