Quarterly Journal of Austrian Economics 19, no. 4 (Winter 2016) ABSTRACT : When individuals save more and invest directly in projects there results capital accumulation and growth. When individuals save more in order to add to their cash holdings, consumer goods are liberated that can be used for capital accumulation causing also economic
Volume 6, No. 4 (Winter 2003) This paper examines what Austrian economists think about deflation and offers a critique of their views. This seems to be of particular importance because Austrians differ in their opinions about deflation, quite in contrast to most other subjects, especially inflation. Six Austrian economists, especially Rothbard
Volume 16, No.1 (Spring 2013) The Austrian School of economics has provided the world with devastating critics of Keynes’s magnum opus The General Theory of Employment, Interest and Money ( TGT ) for a long time. Friedrich A. von Hayek, Jacques Rueff, Henry Hazlitt, Murray Rothbard, Ludwig Lachmann, Ludwig von Mises, and William Hutt have already
Volume 12, Number 4 (2009) Much has been written about the quantity of money and its effects on money’s purchasing power. However, changes in the quality of money have been widely neglected. This paper analyzes changes in the quality of money and its influence on the purchasing power of money. Bagus, Philipp. “The Quality of Money.” The
Volume 13, No. 3 (Fall 2010) Recognizing different types of savings allows for a more fruitful analysis of the business cycle. Sustainable investment activities must be financed by an equivalent amount of savings, both in length of availability and quantity. Upward-sloping yield curves are a feature of the unhampered loanable funds market.
Volume 13, Number 4 (Winter 2010) We explore several unaddressed issues in George Selgin’s (1988) claim that the best monetary system to maintain monetary equilibrium is a fractional reserve free banking one. The claim that adverse clearing balances would limit credit expansion in a fractional reserve free banking system is more troublesome
Volume 12, No. 1 (2009) It is with great trepidation and anticipation that we review Robert Shiller’s new book, The Subprime Solution . Trepidation as to the causes of the problem, which were expected to take a behavioral spin. Anticipation that, with gushing reviews from Austrian friendly writers such as Nassim Taleb , there would be a
I. INTRODUCTION The economics profession has recently neglected the connections between the purchasing power and the quality of money. In order to cover this gap, I will analyze the quality of money and how its changes affect the purchasing power of money. I will argue that changes in the quality of money can be far more important for the value of
I. INTRODUCCIÓN La profesión de la ciencia económica ha descuidado recientemente las conexiones entre el poder adquisitivo y la calidad del dinero. Para cubrir esta brecha, analizaré la calidad del dinero y cómo sus cambios afectan el poder adquisitivo del dinero. Argumentaré que los cambios en la calidad del dinero pueden ser mucho más
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.