Austrian economics, necoclassicism, and the market test
Article Abstract:
Sherwin Rosen's comparison of Austrian economics and neoclassical economics deserve some careful analysis. Although he clearly favors Austrian economics over neoclassical economics, his appreciation should be amplified while his criticism softened. At the same time, his argument for a market test for evaluating academic work risks contain two fallacies. First, the analogy between the metaphorical market and the actual market is not applicable. Second, the market cannot be a good judge of excellence in goods and services.
Publication Name: Journal of Economic Perspectives
Subject: Economics
ISSN: 0895-3309
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
Distributed computation as an economic system
Article Abstract:
Distributed computation can offer economists interesting puzzles and insight to help solve problems of late, inaccurate information pertaining to statistical economics. Price mechanisms, when put into networks to have actual economic contracts, result in the blending of real and virtual economics. Simulation of agents with disparate notions and postulates and their interactions can help comprehend economic behavior.
Publication Name: Journal of Economic Perspectives
Subject: Economics
ISSN: 0895-3309
Year: 1995
User Contributions:
Comment about this article or add new information about this topic:
'Nation, State and Economy': Mises' contribution
Article Abstract:
The work of Ludwig von Mises on the ideas of liberty, nation and language, in his 'Nation, State and Economy', written in 1919, is examined in detail.
Publication Name: Journal of Economic Studies
Subject: Economics
ISSN: 0144-3585
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Innovations, improvements, and the optimal adoption of new technologies. On the economics of the optimal fallow-cultivation cycle
- Abstracts: Notes on the microfoundations of monetary economics. Monetary integration and economic reform. Information and incentives: the economics of carrots and sticks
- Abstracts: Asking the right questions in business retention and expansion surveys. Sports-based economic development
- Abstracts: The editors and authors of economics journals: a case of institutional oligopoly?
- Abstracts: Consumption smoothing and the current account: evidence for France 1970-1996. The accuracy of OECD forecasts of the international economy: Balance of payment