The Devil’s Dictionary of Economics
Search For: (All Definitions Starting with the Letter: Q)
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| Quarterly Journal of Austrian Economics |
“This forum is open… to articles expressing cogent criticisms of Austrian economics that are useful in provoking a rethinking and clarification of critical points of its theory, policy or method. As was the case during our tenure with the Review of Austrian Economics, we will not shy away from controversy, regardless of whose oxen are gored.” See the QJAE Referee Comments.
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| Question, The |
When I was a freshman in college, I took intermediate macroeconomics. The textbook came with a study guide that had a quiz for every chapter of the book. Of course I immediately sat down and took all of the quizzes to see if there was anything in my textbook that I didn’t already know. I got every question right except one – “the question.” I answered it in the Austrian way and they wanted the Keynesian answer. I realized then that this was not just a gap in my knowledge; it was the fundamental question that divides Austrians and Keynesians. See Section VII of my 2004 paper to learn what this six-word question is and see The Answer to learn how I respond now. See Contraction and Crash to see how interest rates can move in opposite directions at different times during the downturn.
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