DOCSLIB.ORG

Quarterly Journal of Austrian Economics 22 No 3 2019.Pdf

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Quarterly Journal of Austrian Economics 22 No 3 2019.Pdf THE QUARTERLY JOURNAL OF AUSTRIAN ECONOMICS VOLUME 22 | No. 3 | FALL 2019 WWW.QJAE.ORG ARTICLES Interest Rates, Roundaboutness, and Business Cycles: An Empirical Study ........................ 311 Mark Gertsen Negative Inflation Targeting: A Proposal of a Non-Distortionary Monetary Policy ...........336 Tomáš Frömmel Intra-Firm Coordination through Rule-Following and the Emergence of Hierarchy .........357 Aidan Walsh and Malcolm Brady Over the Cliff: How Brazil’s 2004–2016 Business Cycle Became Its Worst Recession in a Century .......................................................................................................................................383 Henrique Lyra Maia, Dale Steinreich, and Bruno Saboia de Albuquerque Brazilian States’ Economic Freedom Index: Applying Fraser’s Methodology for 2003-2016 Data ..................................................................................................................................428 Vladimir Fernandes Maciel, Ulisses Monteiro Ruiz de Gamboa, Julian Alexienco Portillo, Mariangela Ghizellini On Understanding France and the French Situation .................................................................453 Pascal Salin Book Review: Gun Control in Nazi-Occupied France: Tyranny and Resistance By Stephen P. Halbrook ...................................................................................................................470 Audrey D. Kline Book Review: The Origin of the Prolonged Economic Stagnation in Contemporary Japan: The Factitious Deflation and Meltdown of the Japanese Firm as an Entity By Masayuki Otaki ..........................................................................................................................477 Jason Morgan Book Review: People, Power, and Profits: Progressive Capitalism for an Age of Discontent By Joseph E. Stiglitz .........................................................................................................................486 David Gordon Book Review: Political Capitalism: How Economic and Political Power Is Made and Maintained By Randall Holcombe ......................................................................................................................492 David Gordon Book Review: Reflections on Ethics, Freedom, Welfare Economics, Policy, and the Legacy of Austrian Economics By Israel M. Kirzner. Eds. Peter J. Boettke and Frédéric Sautet ...............................................498 David Gordon Book Review: Money, Inflation, and Business Cycles: The Cantillon Effect and the Economy By Arkadiusz Sieroń ........................................................................................................................503 Mark Thornton FOUNDING EDITOR (Formerly The Review of Austrian Economics), Murray N. Rothbard (1926–1995) EDITOR, Joseph T. Salerno, Mises Institute and Emeritus, Pace University BOOK REVIEW EDITOR, Mark Thornton, Mises Institute ASSISTANT EDITOR, Timothy D. Terrell, Wofford College COPY EDITOR, J. Mark Stanley PUBLICATIONS DIRECTOR, Judy Thommesen, Mises Institute ASSOCIATE EDITORS Per Bylund, Oklahoma Jeffrey M. Herbener, Grove David Howden, St. Louis State University City College University–Madrid Matthew McCaffrey, University of Manchester CONTRIBUTING EDITORS Philipp Bagus, Universidad Rey Juan Carlos Mateusz Machaj, University of Wroclaw Carmen Elena Dorobăt, Leeds Trinity University G.P. Manish, Troy University Lucas M. Engelhardt, Kent State University–Stark Xavier Mera, University Rennes Nicolai Juul Foss, University of Copenhagen Robert P. Murphy, Mises Institute David Gordon, Mises Institute Malavika Nair, Troy University Randall G. Holcombe, Florida State University Alexandre Padilla, Metropolitan State University Jörg Guido Hülsmann, University of Angers of Denver Peter G. Klein, Baylor University Shawn R. Ritenour, Grove City College EDITORIAL ADVISORY BOARD D. T. Armentano, Emeritus, University of Hartford Jesus Huerta de Soto, Universidad Rey Juan Carlos James Barth, Auburn University Frank Machovec, Wofford College Robert Batemarco, Pace University Yuri Maltsev, Carthage College Walter Block, Loyola University John C. Moorhouse, Wake Forest University Donald Bellante, University of South Florida Robert F. Mulligan, Indiana University East James Bennett, George Mason University Hiroyuki Okon, Kokugakuin University Bruce Benson, Florida State University Ernest C. Pasour, Jr., Emeritus, North Carolina Samuel Bostaph, University of Dallas State University Mark Brandly, Ferris State University William Poole, University of Delaware Peter T. Calcagno, College of Charleston Thorsten Polleit, Degussa Bank AG Anthony M. Carilli, Hampden-Sydney College W. Duncan Reekie, University of Witwatersrand Dan Cristian Comanescu, University of Bucharest Morgan O. Reynolds, Texas A&M University Raimondo Cubeddu, University of Pisa Pascal Salin, University of Paris Thomas J. DiLorenzo, Loyola College in Maryland Frank Shostak, Sydney, Australia Richard M. Ebeling, The Citadel Josef Sima, CEVRO John B. Egger, Towson University Gene Smiley, Marquette University Robert B. Ekelund, Emeritus, Auburn University Barry Smith, State University of New York–Buffalo Lowell Gallaway, Ohio University Thomas C. Taylor, Emeritus, Wake Roger W. Garrison, Auburn University Forest University Fred Glahe, University of Colorado Richard K. Vedder, Ohio University Steve H. Hanke, The Johns Hopkins University Hans-Hermann Hoppe, Emeritus, University of Nevada–Las Vegas THE QUARTERLY JOURNAL OF AUSTRIAN ECONOMICS VOLUME 22 | No. 3 | 311–335 | FALL 2019 WWW.QJAE.ORG Interest Rates, Roundaboutness, and Business Cycles: An Empirical Study Mark Gertsen* JEL Classification: B53, C33, E23, E32, E43, E50 Abstract: I show evidence of Austrian boom-bust dynamics in historical data on the production structure of 28 developed economies. I employ an autoregressive distributed lag model to find that policy-induced deviations from the natural rate of interest increases roundaboutness. This could instigate an unsustainable boom. Additionally, I find that early-stage industries have higher cyclical sensitivity than late-stage industries, consistent with Austrian time-value dynamics in the structure of production. INTRODUCTION he influence of interest rates on the production structure of the Teconomy is a key concept within the Austrian framework. In * Mark Gertsen ([email protected]) is on the faculty of economics and business at the University of Groningen. This paper is based on my MSc thesis. For valuable comments on earlier drafts of this paper including the thesis I thank Prof. Dirk J. Bezemer, Dr. Mark Skousen, Prof. Roger W. Garrison, and Prof. Lex H. Hoogduin. Last, I thank the editor and an anonymous referee for helpful suggestions that considerably improved this paper. All errors remain my own. Quart J Austrian Econ (2019) 22.3:311–335 311 Creative Commons https://qjae.scholasticahq.com/ BY-NC-ND 4.0 License 312 Quart J Austrian Econ (2019) 22.3:311–335 particular, interest-rate-setting central banks are deemed to be insti- tutions distorting the market, often with a combination of artificially low interest rates and expansionary monetary policy. During the Great Moderation some economists claimed that the central banking puzzle was solved, but the 2008–09 global financial crises reignited the debate around this topic. A decade later, central banks are still dealing with the legacy of this crisis, for which the consequences are yet unclear. In this paper I provide an uncommon (to most poli- cy-makers) though sensible view that could enrich the debate about the consequences of policy-induced monetary expansion inevitably followed by boom-bust episodes similar to the one in 2008–09. To substantiate, I attempt to quantify the difference between the natural rate of interest, defined by Wicksell ([1898] 1962) as the unobserved equilibrium price of savings and investments, and the market interest rate set by the central bank. Subsequently, I explore the effect of this interest rate gap on the production structure, or roundaboutness, of 28 OECD economies over the years 2000–14. Roundaboutness as originally pioneered by Menger (1871) and later expanded by Böhm-Bawerk (1891) explains the indirectness and lengthiness of the process in which consumption goods are created. To capture the roundaboutness of an economy, I make use of the Gross Output (GO) metric pioneered by Skousen (1990, 2015, 2018). GO measures the combined value of all stages of production in the economy.1 By dividing GO by GDP, one obtains a measure which increases (decreases) with a lengthening (shortening) of the production process. Böhm-Bawerk (1891) argues that more indirect processes ceteris paribus are associated with more economic progress and increased productivity. However, expansionary monetary policy is prone to instigate an unsustainable growth path. A low-interest rate policy stimulates investments which are not profitable under the natural rate, leading to malinvestment and overconsumption, in turn leading to boom-bust dynamics (Mises [1912] 1953; Hayek 1932, 1933; Garrison 2002, 2004). This paper contributes in three ways. First, I construct a unique data set on Gross Output for 28 OECD countries over the years 1 While Skousen has formalized and widely promoted the concept of GO, it is wholly based on Rothbard’s (2009, 396–403) distinction between the Keynesian “net expen- diture / income approach” and the Austrian “gross expenditure / income approach”. Mark Gertsen: Interest Rates, Roundaboutness, and Business Cycles…
Load more

Recommended publications
  • “Grand European Symposium: Training, Research and Innovation in the Europe of Health”
    “GRAND EUROPEAN SYMPOSIUM: TRAINING, RESEARCH AND INNOVATION IN THE EUROPE OF HEALTH” September 30th, 2021 Live from the Sorbonne’s Grand Amphitheater, Paris, France, and in multiplex with partner European universities and research centers Health is involved in many global and strategic challenges. These challenges are increased by the Covid-19 pandemic and by all pandemics in general, but they are also tied to ageing populations, climate change and economic, societal and social crises. Everywhere in the world health is found at the heart of citizens and government leaders’ preoccupations. Also, and perhaps more than any other sector, Health must face the information crisis, the relativism of values and the questioning of knowledge and science. The fears and concerns tied to the health crisis and to the economic difficulties associated with it have a sometimes negative influence on the population’s perception of health, medical and scientific questions. 1 Lastly, health news and the handling of the Covid-19 pandemic may have dramatic effects on the lives and health of young people, especially on students, that are confronted with a crisis which prevents them from having social interactions, immerges them sometimes in economic precarity and keeps them from peacefully building their future. In this context Europe is affirming itself as a solution to face current and future health issues. Having health education and research as its base, the “Europe of Health” will certainly be able to better respond to future sanitary crises but also to offer new perspectives to caregivers and young Europeans worried about the future. Building an efficient, attractive and ambitious European health model that is capable of collaborating with other world powers would bring Europeans together around a common project and a European identity based on Health, Research and Education.
    [Show full text]
  • Cantillon and the Rise of Anti-Mercantilism
    CANTILLON AND THE RISE OF ANTI-MERCANTILISM MARK THORNTON* Resumen: En este trabajo se pretende demostrar que Cantillon formó parte tanto del pensamiento como del movimiento antimercantilista de su época, influyendo en gran medida en el cambio de opinión en contra del mercantilismo que se fue fraguando de 1720 a 1734. Clasificación JEL: B110, B31, N010. Abstract: This article places Cantillon at the center of anti-mercantilist thought and the anti-mercantilist movements in London and Paris between the time of the Bubbles of 1720 and his murder in 1734 and it places his ideas at the turning point between the eras of mercantilism and antimercantilism. JEL classification: B110, B31, N010. «It seems to me that there is a connection between physiocracy and anti-mercantilism, or at any rate between Boisguilbert (1646-1714) and Quesnay (1694-1774), though it is not easy to say just what this connection was.» Martin Wolfe1 «In itself Cantillon’s (168?-1734?) was a contribution of real significance, and it would be difficult to find a more incisive prophet of nineteenth-century liberalism.» Robert B. Ekelund, Jr. and Robert F. Hébert2 * Dr. Mark Thorntorn, Senior Fellow, Ludwig von Mises Institute, [email protected] 1 Martin Wolfe, «French Views on Wealth and Taxes from the Middle Ages to the Old Regime,» Journal of Economic History 26 (1966): 466-483. 2 Robert B. Ekelund, Jr. and Robert F. Hébert. A History of Economic Theory and Method (New York: McGraw-Hill, 1975): 44. Procesos de Mercado: Revista Europea de Economía Política Vol. VI, n.º 1, Primavera 2009, pp.
    [Show full text]
  • New Perspectives on Political Economy Monetary Reform – The
    ISSN 1801-0938 New Perspectives on Political Economy Volume 5, Number 2, 2009, pp. 111 – 128 Monetary Reform – The Case for Button-Pushing Philipp Bagus JEL Classification: E50, P11, P21, P31 Abstract: In this paper I present a monetary reform plan that seeks to achieve a sound monetary system. I suggest the following three criteria of a good reform: it must be ethical, it must be based on sound economic theory and it must leave room for evolutionary processes. Based on these criteria and applying them to the monetary system, I argue for an immediate cancellation of all government intervention into the monetary realm. Assistant professor at Universidad Rey Juan Carlos, Madrid, [email protected]. I would like to thank William Barnett II, Walter Block, Barbara Hinze, Guido Hülsmann and Mark Thornton for helpful comments and the Ludwig von Mises Institute for financial help. 112 New Perspectives on Political Economy 1 Introduction In a previous paper (Bagus, 2008), I presented the proposals for monetary reform of- fered by the Austrian economists Ludwig Mises, Murray N. Rothbard, Jesús Huerta de Soto and Hans Sennholz. Their aim is a more stable monetary system that permits monetary freedom. Without questioning the aim, I set out to criticize the way that those outstanding economists proposed to get to their aim. In fact, Mises, Rothbard, Huerta de Soto and Sennholz offer plans of monetary reform that entail numerous state interventions into the economy, inconsistencies, arbitrariness, and tactical am- biguities. Their proposals contradict their own ethical and political principles, only partially resulting in monetary reform.
    [Show full text]
  • Review of Murray N. Rothbard's an Austrian
    Reason Papers 97 Murray N. Rothbard, An Austrian Perspective on the History of Economic Thought, Vol. i & ii (Cheltenham, UK: Edward Elgar Publ., Ltd., 1995), pp.576 & 544; Index; $99.95 each. Parth Shah, University of Michigan, Dearborn I have always enjoyed Professor Rothbard's talks at various Austrian conferences and seminars, especially the ones on the history of economic thought. That subject itself, I think, brought out all the qualities that made Professor Rothbard such a loving and towering figure in Austrian and libertarian circles; his incredible breadth of knowledge, diligent scholarship, disarming sense of humor, perspective coalescing of personal with social and intellectual history, genuine respect for a worthy adversary, and yes, his unwavering dedication to praxeology and liberty. Professor Rothbard's two volumes on the history of thought more than meet the expectations; they encapsulate all those unique qualities of his. It makes it all the more unfortunate that the volumes cover the period only up to about 1870. Taking his cue from his mentor Joseph Dorfman, Professor Rothbard eschews the "Few Great Men approach" (talking about the already anointed), and focuses on the "'lesser' figures... emphasizing the importance of their religious and social philosophies as well as their narrower strictly 'economic' views" (1, p.xii). With Thomas Kuhn's realistic appraisal of the path of progress in science in terms of paradigm shifts, Professor Rothbard dismisses the Whig theory of history and works with no presumption that "later thought is better than earlier" (1, p.x). The acceptance of the zig-zag path of the progress of the discipline promises us "far more human drama than is usually offered in histories of economic thought." (1, p.xiii).
    [Show full text]
  • Heartland Climate Economists List SAMPLE
    U.S. Climate Economists Mailing List May 30, 2017 Name Contact Information Email Address Qualifications Anderson, Terry Property and Environment A founder of the Free Market Environmentalism, coauthor (with Leal) of the basic reference on the Research Center subject, head of PERC until just recently. See Anderson, T.L. and McChesney, F.S. 2003. Property Rights: Cooperation, Conflict, and Law . Princeton, MA: Princeton University Press. Suite A B.S. University of Montana, Ph.D. in economics from the University of Washington. Bozeman, MT Phone Ausubel, Jesse The Rockefeller University Director of the Program for the Human Environment and Senior Research Associate at The Rockefeller r.edu University in New York City. From 1977-1988 Mr. Ausubel worked for the National Academies complex in Washington DC as a fellow of the National Academy of Sciences, staff officer of the National Research New York, NY Council Board on Atmospheric Sciences and Climate, and from 1983-1988 Director of Programs for the National Academy of Engineering (NAE). Mr. Ausubel was a main organizer of the first UN World http://www.rockefeller.edu/ Climate Conference (Geneva, 1979), which substantially elevated the global warming issue on scientific research/faculty/researchaffi and political agendas. During 1979-1981 he led the Climate Task of the Resources and Environment liates/JesseAusubel/#conten Program of the International Institute for Applied Systems Analysis, near Vienna, Austria, an East-West t think-tank created by the U.S. and Soviet academies of sciences. Mr. Ausubel helped formulate the US and world climate research programs. Ausubel is one of the top two or three authorities on how the environment is getting cleaner and safer overtime.
    [Show full text]
  • Building Markets? Neoliberalism, Competitive Federalism, And
    BUILDING MARKETS? NEOLIBERALISM, COMPETITIVE FEDERALISM, AND THE ENDURING FRAGMENTATION OF THE AMERICAN MARKET by BENEDIKT SPRINGER A DISSERTATION Presented to the Department of Political Science and the Graduate School of the University of Oregon in partial fulfillment of the requirements for the degree of Doctor of Philosophy June 2018 DISSERTATION APPROVAL PAGE Student: Benedikt Springer Title: Building Markets? Neoliberalism, Competitive Federalism, and the Enduring Fragmentation of the American Market This dissertation has been accepted and approved in partial fulfillment of the requirements for the Doctor of Philosophy degree in the Department of Political Science by: Dr. Craig Parsons Chairperson Dr. Gerald Berk Core Member Dr. Lars Skålnes Core Member Dr. Bruce Blonigen Institutional Representative and Sara D. Hodges Interim Vice Provost and Dean of the Graduate School Original approval signatures are on file with the University of Oregon Graduate School. Degree awarded June 2018 ii © 2018 Benedikt Springer iii DISSERTATION ABSTRACT Benedikt Springer Doctor of Philosophy Department of Political Science June 2018 Title: Building Markets? Neoliberalism, Competitive Federalism, and the Enduring Fragmentation of the American Market Why do interstate barriers persist and proliferate in the US and go unnoticed by neoliberal policy-makers, while in other places, like the EU, they get systematically addressed? I challenge the common assumption that the EU is trying but failing to emulate the single market created in the US a long time ago. I show that in many ways, the EU has adopted more liberal rules for the exchange of goods and services across its members states than the US has in effect across its state borders.
    [Show full text]
  • IPAG Nice, 5-7 July 2018
    9th International Research Meeting in Business and Management IRMBAM 2018 IPAG Nice, 5-7 July 2018 IPAG Business School South Champagne Business School University of Nice Telfer School of Management University of Bern 9 th International Research Meeting in Business & Management (IRMBAM-2018) Let us dare the interdisciplinarity! Welcoming Note It is our great pleasure to cordially welcome you to the IRMBAM-2018, which is jointly organized by IPAG Business School, South Champagne Business School, Telfer School of Management, University of Bern, and University of Nice Sophia Antipolis. As it becomes a tradition, this conference aims at bringing together international scholars, practitioners and policymakers sharing interests in the broad fields of management, including banking and finance, entrepreneurship, strategic management, marketing, accounting, and applied economics. It also provides, through special sessions and regular tracks of academic research, a forum for presenting new research results as well as discussing current and challenging issues of the world economy that scholars are trying to solve. For this year’s conference, we are very much honored to have two outstanding Keynote Speakers in the field of management and entrepreneurship: Professor David Allen (TCU Neeley School of Business, United States & University of Warwick, United Kingdom) and Professor Shaker Zahra (Carlson School of Management, University of Minnesota, United States). We also have the opportunity to welcome Guest Speakers: 1/ for the Subconference in Environmental Economics, Professor Nicolas Treich (Toulouse School of Economics, France) and Professor Knut Einar Rosendahl (Norwegian University of Life Science, Norway); 2/ for the Subconference in Family Business, Professor Allessandro Minichilli (Bocconi University, Italy); 3/ for the Special Session in Law & Management, Professor Auriane Lamine (Catholic University of Louvain, Belgium); 4/ for the Special Session on Commodity Finance, Professor Brian Lucey (Trinity Business School, Ireland).
    [Show full text]
  • Neoliberal Reason and Its Forms: Depoliticization Through Economization∗
    Neoliberal reason and its forms: Depoliticization through economization∗ Yahya M. Madra Department of Economics Boğaziçi University Bebek, 34342, Istanbul, Turkey [email protected] Yahya M. Madra studied economics in Istanbul and Amherst, Massachusetts. He has taught at the universities of Massachusetts and Boğaziçi, and at Skidmore and Gettysburg Colleges. He currently conducts research in history of modern economics at Boğaziçi University with the support of TÜBITAK-BIDEB Scholarship. His work appeared in Journal of Economic Issues, Rethinking Marxism, The European Journal of History of Economic Thought, Psychoanalysis, Society, Culture and Subjectivity as well as edited volumes. His current research is on the role of subjectivity in political economy of capitalism and post-capitalism. and Fikret Adaman Department of Economics, Boğaziçi University Bebek, 34342, Istanbul, Turkey [email protected] Fikret Adaman studied economics in Istanbul and Manchester. He has been lecturing at Boğaziçi University on political economy, ecological economics and history of economics. His work appeared in Journal of Economic Issues, New Left Review, Cambridge Journal of Economics, Economy and Society, Ecological Economics, The European Journal of History of Economic Thought, Energy Policy and Review of Political Economy as well as edited volumes. His current research is on the political ecology of Turkey. DRAFT: Istanbul, October 3, 2012 ∗ Earlier versions of this paper have been presented in departmental and faculty seminars at Gettysburg College, Uludağ University, Boğaziçi University, İstanbul University, University of Athens, and New School University. The authors would like to thank the participants of those seminars as well as to Jack Amariglio, Michel Callon, Pat Devine, Harald Hagemann, Stavros Ioannides, Ayşe Mumcu, Ceren Özselçuk, Maliha Safri, Euclid Tsakalatos, Yannis Varoufakis, Charles Weise, and Ünal Zenginobuz for their thoughtful comments and suggestions on the various versions of this paper.
    [Show full text]
  • Economía Política
    PROCESOS DE MERCADO REVISTA EUROPEA DE ECONOMÍA POLÍTICA Procesos de Mercado Yeso y pigmentos sobre tela y madera Julio Toquero, 2005 “Subyace en este cuadro una reflexión relativa al cambio, a la energía —acción vigorosa— y a la consciencia: realidades fundamentales en los procesos de mercado y en el arte”. PROCESOS DE MERCADO REVISTA EUROPEA DE ECONOMÍA POLÍTICA VOLUMEN X, NÚMERO 1, PRIMAVERA 2013 REVISTA SEMESTRAL PUBLICADA POR UNIÓN EDITORIAL, CON LA COLABORACIÓN DE LA FACULTAD DE CIENCIAS JURÍDICAS Y SOCIALES DE LA UNIVERSIDAD REY JUAN CARLOS HIMNO Dio, che nell’alma infondere Dios, que has querido poner amor volesti e speme, en nuestra alma el amor y la esperanza, desio nel core accendere debes alumbrar en nuestro corazón tu dei di libertà. el deseo de libertad. Giuramo insiem di vivere Juramos juntos vivir e di morire insieme. y morir juntos. In terra, in ciel En la tierra, en el cielo ... congiungere ci può, ... reunirnos podrá, ci può la tua bontà. podrá tu bondad. Ah! Dio, che nell’alma infondere ¡Ah!, Dios, que has querido poner amor volesti e speme, en nuestra alma el amor y la esperanza, desio nel core accendere debes alumbrar en nuestro corazón tu dei di libertà. el deseo de libertad. Don Carlo (1884), GIUSEPPE VERDI (Dúo de Don Carlo y Don Rodrigo, final de la Escena Primera, Acto Segundo) © 2004, Jesús Huerta de Soto Unión Editorial, S.A. © 2004, Unión Editorial, S.A. Martín Machío, 15 ISSN: 1697-6797 28002 Madrid Depósito legal: M-17.229-2004 Tel: 91 350 02 28 • Fax: 91 181 22 12 Correo: [email protected] Administración de Procesos de Mercado: www.unioneditorial.es c/o Jesús Huerta de Soto Universidad Rey Juan Carlos Diseño y Maquetación: JPM GRAPHIC, S.L.
    [Show full text]
  • Report from the 26Th Meeting on Toxinology,“Bioengineering Of
    toxins Meeting Report Report from the 26th Meeting on Toxinology, “Bioengineering of Toxins”, Organized by the French Society of Toxinology (SFET) and Held in Paris, France, 4–5 December 2019 Pascale Marchot 1,* , Sylvie Diochot 2, Michel R. Popoff 3 and Evelyne Benoit 4 1 Laboratoire ‘Architecture et Fonction des Macromolécules Biologiques’, CNRS/Aix-Marseille Université, Faculté des Sciences-Campus Luminy, 13288 Marseille CEDEX 09, France 2 Institut de Pharmacologie Moléculaire et Cellulaire, Université Côte d’Azur, CNRS, Sophia Antipolis, 06550 Valbonne, France; [email protected] 3 Bacterial Toxins, Institut Pasteur, 75015 Paris, France; michel-robert.popoff@pasteur.fr 4 Service d’Ingénierie Moléculaire des Protéines (SIMOPRO), CEA de Saclay, Université Paris-Saclay, 91191 Gif-sur-Yvette, France; [email protected] * Correspondence: [email protected]; Tel.: +33-4-9182-5579 Received: 18 December 2019; Accepted: 27 December 2019; Published: 3 January 2020 1. Preface This 26th edition of the annual Meeting on Toxinology (RT26) of the SFET (http://sfet.asso.fr/ international) was held at the Institut Pasteur of Paris on 4–5 December 2019. The central theme selected for this meeting, “Bioengineering of Toxins”, gave rise to two thematic sessions: one on animal and plant toxins (one of our “core” themes), and a second one on bacterial toxins in honour of Dr. Michel R. Popoff (Institut Pasteur, Paris, France), both sessions being aimed at emphasizing the latest findings on their respective topics. Nine speakers from eight countries (Belgium, Denmark, France, Germany, Russia, Singapore, the United Kingdom, and the United States of America) were invited as international experts to present their work, and other researchers and students presented theirs through 23 shorter lectures and 27 posters.
    [Show full text]
  • Peter J. Boettke
    PETER J. BOETTKE BB&T Professor for the Study of Capitalism, Mercatus Center at George Mason University, & University Professor of Economics and Philosophy Department of Economics, MSN 3G4 George Mason University Fairfax, VA 22030 Tel: 703-993-1149 Fax: 703-993-1133 Web: http://www.peter-boettke.com http://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=182652 http://www.coordinationproblem.org PERSONAL Date of birth: January 3, 1960 Nationality: United States EDUCATION Ph.D. in Economics, George Mason University, January, 1989 M.A. in Economics, George Mason University, January, 1987 B.A. in Economics, Grove City College, May, 1983 TITLE OF DOCTORAL THESIS: The Political Economy of Soviet Socialism, 1918-1928 PROFESSIONAL EXPERIENCE Academic Positions 1987 –88 Visiting Assistant Professor, Department of Economics, George Mason University 1988 –90 Assistant Professor, Department of Economics, School of Business Administration, Oakland University, Rochester, MI 48309 1990 –97 Assistant Professor, Department of Economics, New York University, New York, NY 10003 1997 –98 Associate Professor, Department of Economics and Finance, School of Business, Manhattan College, Riverdale, NY 10471 1998 – 2003 Associate Professor, Department of Economics, George Mason University, Fairfax, VA 22030 (tenured Fall 2000) 2003 –07 Professor, Department of Economics, George Mason University, Fairfax, VA 22030 2007 – University Professor, George Mason University 2011 – Affiliate Faculty, Department of Philosophy, George Mason University FIELDS OF INTEREST
    [Show full text]
  • Introduction
    INTRODUCTION I The 1920s and 1930s were a glorious era in the history of the Austrian School of economics. In those days, the city of Vienna saw the first genuine culture of scholars working in the tradition established by Carl Menger, and this culture radiated throughout the rest of the German-speaking world and into other countries. Many important works of this period have been translated into English, in particular, the books by Ludwig von Mises and F.A. Hayek, and also works of other scholars like Fritz Machlup, Gottfried von Haberler, Oskar Morgenstern, Franz uhel, Hans Mayer, Paul Rosenstein-Rodan, and Leo Schönfeld-Illy.1 Among the pioneering works of this time that have hitherto not been accessible to the anglophone public is that by Richard von Strigl. First published in 1934 under the title Kapital und Pro- duktion by the former Austrian Institute for Business Cycle Research in its series “Contributions to Business Cycle Research,”2 it was reprinted in 1982 by Philosophia Verlag in 1For a sample of writings by these authors from the inter-war period see Austrian Economics: ASampling in the History of a Tradition, Israel M. Kirzner, ed., vol. 2 (London: William Pickering, 1994). 2Beiträge zur Konjunkturforschung, edited by the Österreichischen Institut für Konjunkturforschung. The first seven volumes in this series are all classics of Aus- trian economics: F.A. Hayek, Geldtheorie und Konjunkturtheorie (Vienna: Hölder- Pichler-Tempsky, 1929); Fritz Machlup, Börsenkredit, Industriekredit und Kapitalbil- dung (Vienna: Springer, 1931); F.A. Hayek, Preise und Produktion (Vienna: Springer, 1933); Erich Schiff, Kapitalbildung und Kapitalaufzehrung im Konjunkturverlauf (Vienna: Springer, 1933); Oskar Morgenstern, Die Grenzen der Wirtschaftspolitik (Vienna: Springer, 1934); Fritz Machlup, Führer durch die Krisenpolitik (Vienna: Manz, [1934] 1998); and Richard von Strigl, Kapital und Produktion (Munich: vii Capital and Production Munich under the editorship of Professor Barry Smith.
    [Show full text]