Austrian Capital Theory | Roger W. Garrison

[@nicosmind3]

Hard to believe that there are people who say Austrian Capital Theory is too simple, yet it easily has the most detail, its there on the page (or this case lecture) and its precise as well. Its not wishy washy. Mainstream seems to be so vague and jumps to assumptions. Lastly a good economist realises there no such thing as macroeconomics, that the micro blends into the macro. All businesseses doing something wrong on the micro level affects the economy on the macro level. It cant be any other way. And if they all suffer on the micro it can never add to a positive macro in the end. On a temporary high (boom) followed by that inevitable bust (if houses are unaffordable no one will buy, keeping their prices unaffordable when wages havent risen is madness. Hence dropping interest rates to support prices is redirecting spending and investment to an area of the economy which needs to shrink, and not grow)

[@jzk2020]

yawn

[@connorism69]

Someone needs his Ritalin.