Quarterly Journal of Austrian Economics
Author:
Robert P. Murphy
Online Publish Date:
[ Full Issue of the Quarterly Journal of Austrian Economics 20, no. 4 (2017)] ABSTRACT : Roger Garrison (2001) employs the concept of “secular growth” in which a one-shot (but permanent) fall in time preferences can yield a long string of doses of net investment, so long as gross saving exceeds depreciation. However, Salerno (2001) argues that