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The Next Generation of Austrian Economics
The Next Generation of Austrian Economics: Essays in Honor Joseph T. Salerno is a celebratory volume honoring the work of a respected and beloved teacher. It signifies a flourishing career of significant achievement, and also the gratitude and well-wishes of his students. Dr. Salerno, longtime Professor of Economics at Pace University and Academic Vice President of the Mises Institute, is honored in these pages by the very students whose lives and careers he influenced. His important work in monetary theory and policy, not to mention his great exposition of Austrian school sociology, are addressed here by contributors such as Dr. Philip Bagus, Dr. David Howden, Dr. Per Bylund, Dr. Mateusz Machaj, Dr. Matthew McCaffrey, Dr. Peter Klein, and others. Salerno stands at the head of what may be termed the “5th generation” of Austrian economists, having been both a friend and close associate of the late Murray Rothbard (not to mention a young attendee at the famed 1974 South Royalton conference). But as this volume illustrates, Joe is also a great friend, mentor, and godfather to an emergent new generation of formidable Austrian economists.
Man, Economy, and State with Power and Market
The era of modern economics emerged with the publication of Carl Menger?s seminal work, Principles of Economics, in 1871. In this slim book, Menger set forth the correct approach to theoretical research in economics and elaborated some of its immediate implications. In particular, Menger sought to identify the causal laws determining the prices that he observed being paid daily in actual markets.4 His stated goal was to formulate a realistic price theory that would provide an integrated explanation of the formation of market phenomena valid for all times and places.5 Menger?s investigations led him to the discovery that all market prices, wage rates, rents, and interest rates could ultimately be traced back to the choices and actions of consumers striving to satisfy their most important wants by ?economizing? scarce means or ?economic goods.? Thus, for Menger, all prices, rents, wage, and interest rates were the outcome of the value judgments of individual consumers who chose between concrete units of different goods according to their subjective values or ?marginal utilities? to use the term coined by his student Friedrich Wieser. With this insight was born modern economics.
Banking and Monetary Policy from the Perspective of Austrian Economics
This book discusses contemporary banking and monetary policy issues from the perspective of the Austrian School of Economics. Based on the heritage of the Austrian school, leading scholars and practitioners offer a coherent diagnosis and analysis of the factors leading to Europe’s current financial crisis. The first part of the book discusses Ludwig von Mises’s and Friedrich August von Hayek’s ideas on banking and monetary policy from both historical and economic standpoints. It includes contributions on Austrian monetary dynamics and micro-foundational business cycle theory, von Mises’s concepts of liquidity and solvency of fractional-reserve banks, and liberalism of Austrian economics. The second part analyzes the measures taken by the European Central Bank (ECB) in light of the ideas of von Mises and Hayek. It includes contributions on non-neutrality of money, ECB monetary policy, and the future of the ECB. The third and final part presents discussions on monetary reforms, including contributions on Bitcoins, Cryptocurrencies and anti-deflationist Paranoia.
Hearings
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The Crayon Man
Celebrating the inventor of the Crayola crayon This gloriously illustrated picture book biography tells the inspiring story of Edwin Binney, the inventor of one of the world's most beloved toys. A perfect fit among favorites like The Day the Crayons Quit and Balloons Over Broadway. purple mountains' majesty, mauvelous, jungle green, razzmatazz... What child doesn't love to hold a crayon in their hands? But children didn't always have such magical boxes of crayons. Before Edwin Binney set out to change things, children couldn't really even draw in color. Here's the true story of an inventor who so loved nature's vibrant colors that he found a way to bring the outside world to children - in a bright green box for only a nickel With experimentation, and a special knack for listening, Edwin Binney and his dynamic team at Crayola created one of the world's most enduring, best-loved childhood toys - empowering children to dream in COLOR
Knowledge and Skepticism
New essays by leading philosophers explore topics in epistemology, offering both contemporary philosophical analysis and historical perspectives. There are two main questions in epistemology: What is knowledge? And: Do we have any of it? The first question asks after the nature of a concept; the second involves grappling with the skeptic, who believes that no one knows anything. This collection of original essays addresses the themes of knowledge and skepticism, offering both contemporary epistemological analysis and historical perspectives from leading philosophers and rising scholars. Contributors first consider knowledge: the intrinsic nature of knowledge—in particular, aspects of what ...
Knowledge and Coordination
This text was the basis for a presentation of the book Knowledge and Coordination: A Liberal Interpretation (Oxford University Press, 2012). The lecture discusses the richness of knowledge, the distinction between concatenate and mutual coordination, and the relation of these to a liberal outlook that the author associates with Adam Smith.
