ABSTRACT: Considerable research has been conducted on central bank monetary policies. Particular attention has been focused on policies that have the potential to ensure “sound money,” the symptoms of which are full employment and economic stability. Debate has centered on employing rule-based strategies to improve the monetary policies of the
Volume 17, No. 4 (Winter 2014) Eswar S. Prasad Princeton: Princeton University Press, 2014, 432 pages The great mystery of international finance is how the U.S. dollar has managed to retain its dominance. This is a currency, after all, that has lost about 83 percent of its purchasing power since President Richard Nixon cut the dollar’s remaining
Volume 17, No. 4 (Winter 2014) Steve Forbes and Elizabeth Ames New York: McGraw Hill, 2014, xvii + 249 pages Money is an odd book. Its odd character can be brought out through an analogy. Imagine that someone wrote an eloquent book about price and wage controls. The book showed how attempts to control prices led to economic disaster. Faced with
Volume 17, No. 4 (Winter 2014) KEYWORDS: monetary policy, Mariana, Jefferson, Cervantes, Don Quixote, Austrian School, School of Salamanca, Philip II, Philip III, libertarianism, liberty, slavery, regicide, billon coins, Constitutionalism, Aragon, Euclid, Ron Paul, Paul Krugman JEL CLASSIFICATION: B1, B2, B3, N1, N4 What will I say about our own
Volume 17, No. 4 (Winter 2014) Daniel Stedman Jones Princeton University Press, 2012, 418 pages Critics of neoliberalism and its variants including Misesianism have responded to its emergence in two distinct ways: pejoratively, or scholarly discourse that seeks to engage neoliberal proponents. The first approach is traceable to the Marxists
Quarterly Journal of Austrian Economics 17, No. 4 (Winter 2014) KEYWORDS: Panic of 1873, Austrian Business Cycle Theory, Depression of 1873–1879, national banking system JEL CLASSIFICATION: E2, E3, E4, N1, N2 SECTION I: INTRODUCTION With the recent financial meltdown in 2008, Austrian economics has experienced a revival by both professional and
Volume 17, No. 4 (Winter 2014) Timothy P. Roth Cheltenham, UK: Edward Elgar, 2014, 192 pages The Federal legislative process has completely broken down, from a deliberate rule-guided process to one that seems completely ad hoc and driven by lobbyists. This trend continues no matter what party is in power. Congress bypasses its own rules, ignores
Volume 17, No. 4 (Winter 2014) Legal polycentrism is the view that law and defense are, in relevant respects, no different from other goods and services normally supplied by the market, and that, in view of the generally acknowledged superior allocative properties of the market, freely competing protection and arbitration agencies would provide
Quarterly Journal of Austrian Economics 18, no. 3 (Fall 2015) In the introduction to this collection, Guinevere Nell applauds Austrian scholars for their noteworthy contributions to economics. However, in her view, contemporary Austrians are too often motivated—and constrained—by the search for free-market conclusions, leading them to neglect both
Quarterly Journal of Austrian Economics 18, no. 3 (Fall 2015) It wouldn’t be a stretch to compare patent trolls to the playground bully, initiating scare tactics to gain control and in the case of the trolls, revenue. Following Bill Shughart’s informative foreword, William Watkins packs a good amount of information into his book about patent
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.