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Quarterly Journal of Austrian Economics
Scopus
ISSN 1936-4806 · Mises Institute · 255 artikel di indeks
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Artikel Jurnal
The Development and Application of the Disutility of Labor in Marginalist Theory
Within the Austrian school, labor economics is among the topics least emphasized, so that crucial concepts such as the disutility of labor and opportunity cost are divorced from their original contexts. This article examines the origins and evolution of the disutility of labor postulate and…
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Controversy on COVID-19 Models of Communication and Management: Visible Fist (Bureaucratic Coaction) versus Invisible Hand (Social Coordination)
This article offers an economic analysis, along with empirical illustrations, of the controversy over COVID-19 models of communication and management. It compares mainstream and heterodox models—that is, the interventionist model based on bureaucratic coaction and the liberal model based on agile…
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The Falsity of Positive Technology Shocks
In mainstream macroeconomic models, random shocks drive economic outcomes. Macroeconomic shocks are typically categorized as positive or negative. However, all shocks are exogenous. Although many types of shocks exist, this article argues that there can be no such thing as a positive technological…
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How Say and Jefferson Transformed American Political Economy
Who laid the intellectual foundations of American political economy in the early Republic—the Jeffersonians or the Hamiltonians? This article argues that American economic thought developed primarily along Jeffersonian lines, shaped through a transatlantic exchange with the French liberal school…
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Entrepreneurship and State Interventions
This article examines how state minimum wage policy and economic freedom affect establishment dynamics in low-wage-intensive industries across US counties from 2010 to 2024. Rather than relying on aggregate employment measures, the analysis uses establishment counts disaggregated by industry and…
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Artikel Jurnal
Agency and Entrepreneurship in Capital Markets: Return on Equity and Asset Manager Wages
In Austrian theory, the entrepreneur is the bearer of uncertainty in pursuit of profit (Mises 1998, 255). In capital markets, where stocks and bonds are traded, entrepreneur-investors speculate, forecasting future prices (Rothbard 2009, 848). Klein (2010, 48) has highlighted the lack of Austrian…
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Momentary Monetary Equilibrium: Refining Rothbard
Murray Rothbard (2009b, 265) sought to correct the “fallacy in the distinction that some writers make between ‘circulating’ money and money in ‘idle hoards,’” explaining that “all money is always in someone’s cash balance” and is voluntarily held for the services it provides. This implies that at…
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On the Shoulders of Shrinking Giants
Despite significant economic progress by many measures, progress in the quality of economic policy is often painfully slow and frequently marked by setbacks. This article suggests that these facts can be explained by recognizing, first, that the application of expertise is sufficient for progress…
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Artikel Jurnal
Hayek’s Normative Basis of Market Order
This article reconstructs the normative foundations of the free-market order in the thought of Friedrich August Hayek, treating the market as the paradigmatic instance of what he describes as a spontaneous order. Such an order presupposes a determinate set of rules that protect individual liberty…
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The Misesian Essentialist and the Hayekian Antiessentialist: A New Dimension in the Dehomogenization
Ludwig von Mises and Friedrich Hayek are commonly dehomogenized across four axes: epistemology, methodology, social theory, and political philosophy. This article argues for a fifth, more fundamental axis: their ontologies. Mises was an essentialist, while Hayek was an antiessentialist. Mises held…
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Multifamily Malinvestment and the Skyscraper Curse: Evidence from Five-Star US Development
Austrian business cycle theory (ABCT) holds that artificially low interest rates distort entrepreneurial calculation by making long-duration projects appear more sustainable than real savings and time preferences justify. This article applies that framework to US five-star multifamily development…
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Hurst Analysis of Sectoral Capacity Utilization over the Business Cycle, 1948–2025
This article examines the business cycle with US macrodata using two techniques. First, aggregate consumption and investment are analyzed for substitution and complementarity over expansions and contractions. These results are used to assess empirical support for Keynesian, monetarist, and Austrian…
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Artikel Jurnal
Isolating Malinvestment: How the Austrian School Can Engage in the Debate on Credit Cycle Transmission
The contemporary macroeconomic literature has documented a now-classic empirical regularity: Intense credit expansions are followed by more severe recessions (Jordà et al. 2013). The debate on the mechanisms that explain this correlation remains open, and the dominant hypotheses (credit channel…