Sunday, August 19, 2012

Austrian Labor Economics

You don't see a lot of it, but there is some out there. Peter Boettke and Will Luther try to pull the insights from the literature together in a paper titled "Labor Economics from an Austrian Perspective". It looks like it is more specifically focused on jobless recoveries, which are unfortunately making a habit of rearing their ugly heads in the last couple downturns.

I have not read it yet, but am looking at it now. Let me know what you think if you get a chance to.


  1. The claim that Austrian economics had a knock-down analysis of the Great Recession annoyed me, but I quite enjoyed the rest of the paper. The agency arguments about declining unionisation interested me, though the explanation captured rather less of what was going on that was claimed.

    1. I thought that was pretty funny too.

      Ya - I think there was more background on Austrian economics in general than needed (and much of that I disagreed with - the sharp contrast they drew with the mainstream. But that's not unexpected with Peter). They could have cited many more people than they did. But I found all of Mises's contributions - particularly later in the paper - interesting.


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