Quarterly Journal of Austrian Economics
Author:
Joseph T. Salerno
Online Publish Date:
Volume 4, No. 3 (Fall 2001) I would like to emphasize two implications of my argument. First, the concept of secular growth as an uncaused phenomenon contradicts the Mengerian method of analyzing dynamic market processes as well as modern Austrian capital and interest theory and should be purged from capital-based macroeconomics. In its