Rothbardian demand: A critique

@article{Hudk2011RothbardianDA,
  title={Rothbardian demand: A critique},
  author={Marek Hud{\'i}k},
  journal={The Review of Austrian Economics},
  year={2011},
  volume={24},
  pages={311-318}
}
  • Marek Hudík
  • Published 6 April 2011
  • Economics
  • The Review of Austrian Economics
This paper refutes Rothbard’s claim that the law of diminishing marginal utility implies a non-increasing demand curve. It is argued that the law under Rothbard’s interpretation is, in fact, irrelevant for demand theory. An example of increasing demand is provided. 

The Giffen Paradox Revisited

This paper aims at defending the Austrian causal-realist demand theory which refutes the existence of an upward-sloping demand curve or the Giffen good. The analysis traces back to the fundamental

The Pure Time Preference Theory: A Neoclassical Critique

The pure time preference theory of Ludwig von Mises and Murray N. Rothbard is a cornerstone of the Austrian theory of interest. In the past, several attempts were made to demonstrate that this theory

Can the Natural Rate of Interest Be Zero? A Neoclassical Approach

Very low real rates of interest observed in modern economies might be caused by the fact that the natural rate of interest declined to a zero level. This article shows that a zero or a negative

'Mises and Hayek Mathematized': Towards Mathematical Austrian Economics

The paper argues that the communication gap between Austrian economics and the rest of the profession could be narrowed if only the Austrians became more mathematized. Benefits as well as costs of

References

SHOWING 1-10 OF 12 REFERENCES

Realism: Austrian vs. Neoclassical Economics, Reply to Caplan

This Reply is part IV of an ongoing debate that first began with Caplan (1999) as part I. Part II can be found in Block (1999), and part III in Caplan (2002?).Overall, the debate concerns the issue

The Austrian Search for Realistic Foundations

Self-designated Austrian economists have two different views of modern neoclassical economics. Some, such as F. A. Hayek, take issue with certain aspects of neoclassical economics without disputing

Economic science and neoclassicism

For more than forty years, economists have routinely rejected the postulate that economic theory should be realistic. Ever since Milton Friedman (1953) sketchily outlined a positivistic methodology

Austrian theorizing: Recalling the foundations

It is a pleasure to reply to Caplan’s (1999) critique of Austrian economics. Unlike other such recent reactions this one shows evidence of great familiarity with the Austrian (praxeological)

Giffen Behavior and Subsistence Consumption.

This paper provides the first real-world evidence of Giffen behavior, i.e., upward sloping demand, bysidizing the prices of dietary staples for extremely poor households in two provinces of China, and finds that their elasticity of demand depends significantly, and nonlinearly, on the severity of their poverty.