Review of Austrian Economics

From The Review of Austrian Economics Vol. 6, No. 1, 1992.

Banks under a free-banking system, like banks with fractional reserves under any other system, are susceptible to runs. Free-banking theorists maintain that the option clause would be one effective means of dealing with runs on banks.

With regard to Tullock’s “major objection” to the theory, his argument (pp.

A standard theorem in neoclassical public finance holds that income taxes are preferred to equal revenue excise taxes. Herbener (1988) rejects this theorem.

From The Review of Austrian Economics Vol. 4, 1990.

Decisively refuted by the facts of economic life, Marxism has been forced to retreat to the one place in the academy where empirical reality seems to carry no weight in an argument: the humanities departments.

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. 8, No. 2, 1995.

Randall G. Holcombe A Theory of the Theory of Public Goods Adobe Acrobat 6.0 Paper Capture Plug-in

David Osterfeld VENTURA Adobe Acrobat 6.0 Paper Capture Plug-in