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Why the Austrians Are Wrong about Depressions

Booms and BustsAustrian Economics Overview

02/19/2015Review of Austrian Economics, Volumes 1-10
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. Since in oral discussions, I am frequently accused of misrepresenting the theory, I asked him to give me a canonical version and he gave me the Rothbard...


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Legal Polycentrism, the Circularity Problem, and the Regression Theorem of Institutional Development

02/03/2015Quarterly Journal of Austrian Economics
ABSTRACT : The circularity problem states that before legal polycentrists can employ price theoretic arguments about market competition, they must first show that legal polycentrism is able to instantiate the institutional framework within which property rights are protected and contracts are...
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Review of Masters of the Universe: Hayek, Friedman, and the Birth of Neoliberal Politics by Daniel Stedman Jones

History of the Austrian School of Economics

02/02/2015Quarterly Journal of Austrian Economics
Book Review by Greg Kaza Masters of the Universe: Hayek, Friedman, and the Birth of Neoliberal Politics Critics of neoliberalism and its variants including Misesianism have responded to its emergence in two distinct ways: pejoratively, 1 or scholarly discourse that seeks to engage neoliberal...


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Money: How the Destruction of the Dollar Threatens the Global Economy—and What We Can Do About It by Steve Forbes and Elizabeth Ames

Global EconomyMoney and BanksMonetary Theory

01/30/2015Quarterly Journal of Austrian Economics
Money is an odd book. “Moderation” in the use of a bad measure is no virtue. If cyanide is poison, “drink in small doses” is not the appropriate response. Money falls exactly into this bad pattern.
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Review of The Dollar Trap: How the U.S. Dollar Tightened Its Grip on Global Finance by Eswar S. Prasad

U.S. EconomyValue and Exchange

01/30/2015Quarterly Journal of Austrian Economics
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...
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The Natural Rate of Interest Rule

The FedMoney and BanksBusiness Cycles

01/30/2015Quarterly Journal of Austrian Economics
This article reviews the Fed’s performance with particular emphasis on its contribution to the 2008 crisis and then suggests an alternative policy which, had it been in place would have dampened the most recent boom and bust.
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Was the American Revolution Radical?

U.S. History

12/18/2014Articles of Interest
[Chapter 80, "Was the American Revolution Radical?," from Murray N. Rothbard's Conceived in Liberty , vol. 4, The Revolutionary War, 1775–1784 .] Especially since the early 1950s, America has been concerned with opposing revolutions throughout the world; in the process, it has generated a...
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A Summer Fellow Discusses Her Academic Future

12/16/2014The Free Market
This fall, we talked briefly with Audrey Redford, who was a Summer Fellow at the Mises Institute this year.
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The Fed: Reality Trumps Rhetoric

The FedMoney and BanksMonetary Theory

12/15/2014The Free Market
The Fed would have us believe that it has am impressive record of success in preventing recessions and improving the economy. The actual historical record suggests otherwise.
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Ngrams and the Austrian School

Austrian Economics OverviewHistory of the Austrian School of Economics

11/19/2014Quarterly Journal of Austrian Economics
The Google Ngram Viewer is used to highlight some of the ideas, nomenclature, individuals, and events that have come to comprise the Austrian tradition. Key terms and literature are also examined primarily using the English corpus, with occasional examinations using German and French corpus as well...
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