Volume 1, No. 2 (Summer 1998) Terminological Remarks It is customary to distinguish between competition and monopoly. This distinction suggests the idea that in the case of monopoly there is no competition at all. However, this is not true with regard to the monopolies we have to deal with in a study devoted to the problems of a market economy.
Volume 2, No. 3 (Fall 1999) The resourceful antitrust community has simply gone ahead and reinvented itself by developing several new theories and an entirely new approach to evidence. (Unfortunately, the new approach is that favorable evidence no longer matters.) All of this is important since the antitrust enthusiasts and regulators intend
Volume 2, No. 3 (Fall 1999) Most economists would, given the opportunity, offer some proposal to reform antitrust policy. Some would contend that this or that aspect of antitrust law should be eliminated or more weakly enforced. Only a brave few, however, deliver a deadly blow to the antitrust beast. In the revised second edition of his
Volume 2, No. 4 (Winter 1999) Solow seems to have no conception of human action as a process of plan coordination, although he uses Austrian-sounding language at one point in discussing “coordination failure” in the marketplace. He sees the job of the economist as the construction of obtuse mathematical theories to ostensibly explain this
Volume 3, No. 4 (Winter 2000) Butler Shaffer’s well-written monograph, In Restraint of Trade , describes in extensive detail why and how most businessmen pleaded for the government to tame them between the end of World War I and the eve of World War II. Other scholars have plowed this field before; most notably John T. Flynn (to whose memory
Volume 5, No. 2 (Summer 2002) Austrianism is far more receptive to business and private enterprise than Marxism, and it certainly exceeds neoclassical economics in this regard. In terms of the phenomenon with which we have been concerned—the assumption of full information —Austrianism is far superior to mainstream economics. For one
Volume 5, No. 3 (Fall 2002) Although bits and pieces of “Competition as a Discovery Procedure” began to appear in English as early a the 1970s , the translator discovered that, by the time he assumed emeritus status in 1998, no full translation of the original 1968 Kiel version was yet extant. Translating such a document into English would
Quarterly Journal of Austrian Economics, Volume 5, No. 3 (Fall 2002) [ This is a translation from German of F.A. Hayek’s “Der Wettbewerb als Entdeckungsverfahren,” a 1968 lecture sponsored by the Institut für Weltwirtschaft at the University of Kiel. Translated by Marcellus S. Snow. ] I. It would not be easy to defend macroeconomists against the
Volume 6, No. 1 (Spring 2003) This article provides a new synthesis between the strategic management literature and Austrian capital theory. The resource allocation process plays out in the context of differing subunit preferences, potentially resulting in tension and periodic conflict that may lead to dysfunctional relationships over time.
Volume 6, No. 1 (Spring 2003) One is not intellectually free to use the neoclassical theory of the firm at one time to explain economic action, and to discard it at another. If the theory of the firm does not apply in all explanations of firm behavior, then it cannot apply at all. If economists cannot explain the theory of predatory pricing
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.