Review of Austrian Economics

Today, the term "Austrian economics" is used to designate two very different paradigms.

Review of Competition versus Monopoly: Combines Policy in Perspective by Donald Armstrong

For many years, I have been critical of the Austrian theory of depressions and this led Walter Block to ask me to put my criticisms in print.

There is no use talking about a return to a gold standard until the US has abolished the deficit in the federal budget and kept it balanced for a couple of years.

Demand calls forth supply in the world of economic journals as much as in the “real” economic world. The proliferation of new journals since World War II has been a function of the increasing number of Ph.D.s and of the acute exigencies of “publish or perish.” But there is another category of new journals more relevant to this one: periodicals that function as a nucleus and a sounding board for schools of economic thought partially or wholly outside the prevailing neoclassical paradigm.

From The Review of Austrian Economics Vol. 1, No. 4, 1987.

Discipline after discipline, from literature to political theory to philosophy to history, have been invaded by an arrogant band of hermeneuticians, and now even economics is under assault.

Mises convincingly argues that, given the existence of the long-run objectives instilled by private property rights, cooperation in the form of division of labor and trade emerge naturally; and therefore, under these circumstances, "there is no need to enforce cooperation by special orders or prohibitions."

From The Review of Austrian Economics Vol. 26, No. 2, 1993.