Austrian Macroeconomics

The Austrian approach to macroeconomics was developed by the followers of Carl Menger, Ludwig von Mises, F. A. Hayek, and Murray Rothbard. Unlike mainstream macroeconomics, Austrian macroeconomics is not a body of theory separate from basic value and price theory that aims at analyzing the economy as a holistic entity apart the individual households, firms and markets that constitute it.

Instructor

Joseph T. Salerno received his PhD in economics from Rutgers University. He is professor emeritus of economics in the Lubin School of Business of Pace University in New York City. He is the editor of the Quarterly Journal of Austrian Economics and the Academic Vice President of the Mises Institute where he serves on the Board of Directors. Professor Salerno also held the inaugural Peterson-Luddy Chair in Austrian Economics at the Mises Institute and the inaugural John V. Denson II Endowed Professorship in the economics department at Auburn University.

Professor Salerno is a research associate of the Foundations of the Market Economy in the economics department at New York University (1991-2018) and is on the Board of Editors of five academic journals. Salerno has published over 70 articles and essays in refereed journals and scholarly books. His latest book is The Austrian School of Economics in the 21st Century: Evolution and Impact (Springer 2022) co-edited with Annette Godart-van der Kroon. He is the author of Money: Sound and Unsound (Mises Institute 2010) and is currently writing a book with Patrick Newman on the development of Murray N. Rothbard as a Misesian economist. In the last few years, he has published several articles appearing in peer-review journals including Oxford Economic Papers, The European Journal of the History of Economic Thought, and The Journal of Institutional Economics.