New EH.Net book review by Bob Higgs: Vernon W. Ruttan, Is War Necessary for EconomicGrowth? Military Procurement and Technology Development. New York: Oxford University
a slowdown or even a financial crisis? A debate is taking place in the Far Eastern Economic Review over how the Chinese boom is being funded: bank credit expansion or capacity-expansion and fixed-asset investment. There is no question that China’s growth continues to be financed by banks. In fact, total investment by industrial
In his classic book On the Accuracy of Economic Observation Oskar Morgenstern deals with a common, yet widely neglected From the difficulties of national income statistics, it also follows that growth rates too should not be taken at face value. Obviously, the choice of the
THEORY AND POLICY OF INTERGENERATIONAL SUSTAINABILITY by John Bratland. The economic theory of intergenerational sustainability is essentially neoclassical in output and the interest rate term spread is examined... DEFLATION AND ECONOMICGROWTH by Greg Kaza. Salerno argues economicgrowth has occurred in periods of
“Capital Workers” Independent Productivity in Nature Labor’s Income Share Binary Economics on Savings and Consumption “Sterile” Savings Binary Economics and Say’s Law Rights, and Freedom Conclusion References Notes Binary economics is a theory of economicgrowth that places emphasis upon the distribution of capital, rather than the
los socráticos influyeron en sus filosofías éticas y políticas y en sus opiniones económicas. Así, tanto para Platón como para Aristóteles, «el bien» para el hombre no en países como Mesopotamia, India y China es Joseph J. Spengler, Origins of Economic Thought and Justice (Carbondale, Ill., Southern Illinois University Press, pensamiento económico que hacen justicia a la contribución griega son Spiegel, The Growth of Economic Thought y Barry Gordon, Economic Analysis Before Adam Smith (Nueva
much to various fields of science and knowledge, one branch he did lack in was economics. Murray Rothbard left in one of his banking volumes an interesting footnote of money and interest rates. This essay has some remarkable similarities to the economic doctrine propounded by Keynes in the General Theory . Franklin held a firm to capital production. An increase in present saving is what enables economicgrowth and a rise in future consumption to occur. In addition, Benjamin Franklin
paper, shares the form of a logarithmic power law. It suggests that an exponential growth in technological progress is currently taking place, and humanity is on the mere “reputation points.” [10] Stross manages to mangle a bevy of technical and economic gobbledygook and dress it with an exponentially spiraling plotline, [11] but
contrary, saving, investment, and entrepreneurship are the critical components of economicgrowth. Suppose the vast majority of Americans heeded the standard imperative to “put
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.