Volume 6, No. 3 (Fall 2003) The debate concerns the issue of whether the Austrian or the neo-classical vision more closely approaches the truth in economics, with regard to such issues as methodology, indifference, envy , verschtehen , continuity demonstrated preference, welfare economics, public goods, and cardinality. Block, Walter
Volume 7, No. 2 (Summer 2004) Let us begin our analysis by making the distinction between free markets in their pure, laissez faire or capitalist dimension, on the one hand, and market socialism on the other. Markets for the libertarian are at the very core of this philosophical perspective. Free markets are based upon legitimately owned
Volume 7, No. 4 (Winter 2004) The title of this symposium is Austrian Law and Economics: The Contributions of Adolf Reinach and Murray Rothbard . The second part of this title is not at all problematic; these two authors have made many and important contributions to both law and economics. It is therefore of great interest to compare and
Volume 8, No. 2 (Summer 2005) Selgin and White commence their defense of monetary systems with fractional-reserve banking, provided they are based on gold specie money. They argue that such systems are both ethically and economically defensible. With respect to the economics of the matter, they address several issues. We consider them in the
Volume 9, No. 1 (Spring 2006) What sets Austrians apart from mainstream economists is methodology and consequent analyses . The first section contains an analysis of their methods, which are found wanting. Although G&V “tip their hats” to Austrian economics, in section two, “Incompatibility with Austrian Economics,” we challenge their claim
Volume 9, No. 3 (Fall 2006) Rothbard (1993, pp . 638–45) refuted the important economic fallacy that excess capacity is a normal consequence of profit maximizing behavior by businesses in some industries when they are in long-run equilibrium. And, in so doing provided a manifest example of misuse of mathematics in modern economics.
Volume 17, no. 2 (Summer 2014) ABSTRACT : We welcome Professor Dolan’s (2014) contribution to Austrian economics, and the contributions of all economists associated with the Austrian school of thought to environmental issues. Although not an Austrian economist himself, Dolan has made more of a contribution to the praxeological school than perhaps
Volume 15, No. 2 (Summer 2012) Transitivity in economics maintains that if a is preferred to b , and b to c , then a must also be preferred to c. The problem with this is that these three decisions are made at different points of time, and tastes may have changed in the interim. The difficulty with a rejection of transitivity (which
Volume 13, Number 4 (Winter 2010) There are two Coase theorems. The simplistic one deals with the unrealistic world of zero transactions costs. The more important one addresses itself to the real world, where transactions costs are positive, and, often, larger than any possible gains that might ensue from market transactions. Demsetz and I
Volume 12, No. 1 (2009) The author provides a commentary. Despite Hoppe’s more elegant way of describing choice, it still remains a logical contradiction to oppose indifference and embrace interchangeable commodity units. For what does “interchangeable” mean other than “indifferent between”? Block, Walter. “Rejoinder to Hoppe on
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.