The Theory of Money and Credit (1912) is rightly regarded as a seminal book in the development of the Austrian school approach to monetary theory. We argue that Mises’ understanding of the equation of exchange differs from both of the conventional textbook versions, and warrants recognition as...

In light of Wittman (<CitationRef CitationID="CR86">1995</CitationRef>) and Caplan (<CitationRef CitationID="CR30">2007</CitationRef>) this paper contends that the rational-choice approach to political science (“Public Choice theory”) has reached a dead end. By critiquing their treatment of rationality, knowledge assumptions, and views of the democratic process, an alternative is...</citationref></citationref>

In the last decade, a small group of Austrians has attempted to argue that there are crucial distinctions between the Misesian and Hayekian lines of influence, and that the former is the superior. This paper argues that the group has both misread Hayek and underplayed the similarities of Mises...

Neoclassical treatments of inflation understate the costs associated with inflation, even at very low levels. A comparative institutions perspective that recognizes the epistemological properties of prices and the institutional process by which inflation takes place, reveals the costs of...

Hayek's arguments for a constitutionally constrained government are consistent with, and to some extent rest upon, his work in theoretical psychology. By exploring his view of the mind in The Sensory Order, we can see the psychological and epistemological underpinnings of Hayek's belief in the...